Bitcoin (BTC) has long held a dominant position in the cryptocurrency market for years. However, recent trends show a shift in the landscape as Bitcoin’s market dominance faces increasing pressure from Ethereum (ETH) and other Layer 1 networks. While Bitcoin’s dominance in terms of market capitalization has been steadily increasing since 2022, when measured by active users and on-chain activity, the leading cryptocurrency is seeing its market share decline. This shift has raised a lot of important questions about the future role of the cryptocurrency king in the crypto ecosystem as its price faces volatility. Even with this drop in
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