Ethereum and Dogecoin grow amid bitcoin’s slump

Bitcoin BTC $117,889.09 Bitcoin 0.48% Market capitalization $2.35 trillion VOL. 24 hours $2.04 billion continues to lose ground amid uncertainty over the future of cryptocurrency regulation in the United States. In recent days, the main cryptocurrency’s rate has declined, which is associated with Congress’s delay in considering key bills that should determine the status of digital assets.

Against this background, Ethereum and Dogecoin showed positive dynamics. Ethereum is strengthening its position, and analysts note the growth of its dominance in the market. In particular, an expert quoted by Benzinga points out that in order to form a stable bullish sentiment, Ethereum must confidently overcome the 10% market share mark.

Despite bitcoin’s decline, Ethereum ETH $3,333.32 Bridged Ether (StarkGate) 6.84% Market capitalization $92.94 million VOL. 24 hours $3.8 billion continues to attract investors' attention. The main interest is caused by the growing use of smart contract technology, as well as the stable operation of the network amid market turbulence.

Dogecoin DOGE $0.21 Binance-Peg Dogecoin 5.76% Market capitalization $0.54 billion VOL. 24 hours $0.39 billion is also showing growth amid the overall recovery of the altcoin market. Experts attribute this to the community’s activity and the emergence of news about the potential introduction of meme coins in new financial services.

In general, analysts note that the share of Ethereum in the market structure is an important indicator for assessing investor sentiment. Further strengthening of this cryptocurrency’s position may determine trends for the coming months.