Ethereum News Today: Ethereum Price Surges 19% as Market Share Gains 30% in a Month

Ethereum (ETH) has maintained a price above $4,000, rekindling discussions about the potential arrival of an “altcoin season.” This has prompted a range of perspectives from industry experts, analysts, and traders, many of whom see ETH’s recent performance as a sign of broader market shifts away from Bitcoin’s dominance.

According to dominance charts, Ethereum’s market share has increased by over 30% in the past month, while Bitcoin’s dominance has declined by nearly 6.5% over the same period [1]. Joseph Lubin, Ethereum co-founder and chairman of Sharplink Gaming, highlighted the growing significance of Ethereum, suggesting that it could eventually surpass Bitcoin in monetary base size within a year [1]. He described Ethereum as “digital oil” to Bitcoin’s “digital gold.”

Lucie, marketing lead for Shiba Inu, noted that Ethereum is leading the charge and that the momentum is “undeniable.” She also shared a chart outlining potential phases that could lead to an altcoin season [1]. Meanwhile, 10x Research reported that their tactical altcoin model has favored altcoins over Bitcoin for 31 consecutive days, suggesting the current breakout across major altcoins may be more durable than previous ones [1].

Despite the optimism, some experts caution that the altcoin season is not yet here. Benjamin Cowen, a crypto commentator, emphasized that the current rally is more of an “ETH season,” rather than a broad altcoin resurgence [1]. He stressed that for a true altcoin season to begin, other top coins such as ADA, DOGE, XRP, BNB, and SOL would need to show significant upward momentum alongside Ethereum.

Bitcoin dominance remains a key factor to watch. At the time of writing, BTC.D was hovering around 60% [1]. DanCrypto, a crypto trader, noted that this level is critical for short-term momentum. If Bitcoin dominance stays above 62%, he suggested, Bitcoin could regain the spotlight [1].

Ethereum’s price has climbed 19% in the past seven days, reaching $4,180 [1]. Institutional interest in Ethereum has also grown, with corporate holdings now totaling $13 billion as the price surpassed $4,300 [1]. Firms like BitMine and The Ether Machine are among those increasing their exposure to ETH, reflecting stronger institutional confidence.

Price forecasts for Ethereum are varied. Some analysts predict that ETH could break $10,000 within six to eight months [1], while others, like William Suberg, have set even higher targets of $20,000 [1]. However, Samson Mow, a Bitcoin maximalist, believes Ethereum investors may eventually rotate back to Bitcoin [1].

On-chain activity has also increased, with nearly $270 million flowing into Ethereum ETPs last week [1]. Additionally, Vitalik Buterin, Ethereum’s co-founder, has once again become an on-chain billionaire as the price tops $4,200 [1].

While the narrative of an altcoin season is gaining traction, it remains to be seen whether this momentum will continue. For now, Ethereum’s performance is drawing attention from both retail and institutional investors, reinforcing its role as a key player in the evolving crypto market [1].

Source:

[1] The Coin Republic: Altcoin Season Is Here? Experts Weigh In As Ethereum (ETH) Price Holds Above $4K (https://www.thecoinrepublic.com/)

[2] CoinCentral: Lubin Says Ethereum Could Flip BTC as Price Jumps and ... (https://coincentral.com/lubin-says-ethereum-could-flip-btc-as-price-jumps-and-giants-fall/)

[4] CoinCentral: DOGE Price Support Drops Below Key Levels, Ethereum ... (https://coincentral.com/doge-price-support-drops-below-key-levels-ethereum-whales-back-rblk-as-the-smarter-bet/)

[8] Cointelegraph: Ether treasuries climb to $13B as price breaks $4,300 (https://cointelegraph.com/tags/ethereum)