10x Research: BTC market share drops to 56%, XRP may surpass SOL to become the third largest cryptocurrency

Bitget2024/12/01 01:28

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10x Research pointed out in its market analysis that the market value of cryptocurrencies has soared to $3.43 trillion, and Bitcoin's dominance has dropped from 60% to 56%. A higher overall market value coupled with a continuously declining Bitcoin dominance is often seen as a sign of altcoin season. In cryptocurrency, market theories tend to be self-fulfilling because beliefs drive momentum.

Since November 17th, Solana (SOL) has remained relatively stable while other major altcoins have performed excellently. Ethereum (ETH) rose nearly +18%, Ripple (XRP) soared +70%. The market cap gap between Solana and Ripple is now only $6 billion, which means there could be a "turnaround" within a few days where Ripple might become the third most valuable cryptocurrency.

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