Ethereum’s market dominance has plummeted to 7.18%, close to its all-time low. A bearish pattern indicates potential for ETH to fall to 1,100 USD. The rise of competitors in the blockchain space and a decrease in total locked value are contributing to Ethereum’s struggles.
XRP has now surpassed Ethereum’s market share increase, showing growth over 200%. Other layer-1 blockchains have also gained market dominance, affecting Ethereum negatively and heightening concerns about its future performance.
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