As we entered the year 2024, Ethereum’s market dominance stood at 16.96%, setting the stage for a tumultuous journey ahead. The cryptocurrency experienced highs and lows, reaching a peak of 19.28% in February before plummeting to a low of 15.42% by mid-May. A brief resurgence occurred with the launch of Ethereum spot ETFs, pushing dominance to 18.8% in June. However, this excitement was short-lived, and Ethereum’s dominance has since declined by approximately 5.42%.
The burning question on everyone’s minds now is: Can Ethereum make a comeback in 2025?
Bitcoin, on the other hand, has had a remarkable year, witnessing a staggering growth of over 115.76%. Starting the year with a dominance of around 51.58%, Bitcoin now commands 58.71% of the market share. Despite a slight dip in dominance between November and December, Bitcoin has consistently outperformed Ethereum and the broader altcoin market.
While Ethereum briefly saw a rise in dominance in late November and early December, it has since experienced a sharp decline, losing at least 1.09% after December 7. The altcoin market as a whole has grown by 65.18% this year, with Ethereum’s growth lagging behind at 40.96%. This indicates that Bitcoin has outshined both Ethereum and other altcoins significantly.
The launch of Ethereum ETFs in 2024 attracted billions in investments, but reports suggest that this had minimal impact on Ethereum’s price. The initial hype surrounding the ETFs quickly faded, leading traders to question Ethereum’s potential for substantial upward movement.
Looking ahead to 2025, experts advise Ethereum enthusiasts to remain patient. They believe that a stronger narrative in favor of Ethereum could emerge next year, potentially shifting market sentiment and driving up its price. Despite the challenges faced in 2024, there is optimism for a more robust performance from Ethereum in the coming year. With the right developments and market conditions, Ethereum could stage a remarkable comeback in 2025.