{"id":22189,"date":"2025-04-15T14:31:42","date_gmt":"2025-04-15T14:31:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22189"},"modified":"2025-04-15T14:31:42","modified_gmt":"2025-04-15T14:31:42","slug":"ethereum-market-share-nears-historic-lows-as-eth-price-risks-falling-to-1100","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22189","title":{"rendered":"Ethereum market share nears historic lows as ETH price risks falling to $1,100"},"content":{"rendered":"
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\"Ethereum<\/p>\n

Ether\u2019s (ETH<\/a>) market is very close to hitting all-time lows as a classic bearish chart pattern hints at a deeper correction toward $1,100.<\/p>\n

Ethereum\u2019s market dominance keeps falling<\/h2>\n

On April 9, Ethereum\u2019s market dominance, or the measure of Ether\u2019s share of crypto\u2019s overall market capitalization, hit a new multiyear low of 7.18%, according to Cointelegraph Markets Pro<\/a>\u00a0and\u00a0TradingView data<\/a>.\u00a0<\/p>\n

This value was merely a hair\u2019s breadth above the all-time low of 7.09% reached in September 2019.<\/p>\n

\u201cEthereum dominance is so very close to registering new all-time lows,\u201d said popular crypto analyst Rekt Capital in an April 13 post on X, adding:<\/p>\n

\u201cEthereum Dominance needs to hold this green area to position itself to become more market-dominant over the coming months.\u201d<\/p><\/blockquote>\n

\"Ethereum
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ETH market dominance %. Source: <\/em>Rekt Capital<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Ether\u2019s market share is now at its lowest value since 2019-2020. Meanwhile, Ether\u2019s closest competitor in terms of market capitalization, XRP (XRP<\/a>), has seen its dominance rise by over 200% over the same timeframe.\u00a0\u00a0<\/p>\n

Its top layer-1 rival tokens, BNB Chain\u2019s (BNB<\/a>) and Solana\u2019s (SOL<\/a>), have also seen 40% and 344% increases in their market dominance since 2023.\u00a0<\/p>\n

Several reasons for this underwhelming performance<\/a>\u00a0include weak institutional demand evidenced by negative ETF flows, a sluggish derivatives market, and increasing competition from other layer-1 blockchains.<\/p>\n

More trouble for Ethereum could also be found when analyzing the total value locked<\/a> (TVL) of competing blockchains. <\/p>\n

Although Ethereum remains the leader with a market dominance of 51.7%, this metric has decreased from 61.2% in February 2024. In comparison, Solana\u2019s dominance in terms of TVL has increased by 172% over the same period.\u00a0<\/p>\n

\"Ethereum
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Total value locked market share (%). Source: DefiLlama<\/em><\/p>\n<\/figcaption><\/figure>\n

ETH price \u201cbear flag\u201d targets $1,100<\/h2>\n

Ether price, or the ETH\/USD trading pair, is expected to resume its prevailing bearish momentum despite recovering from recent lows as a classic (bearish) chart pattern emerges.<\/p>\n

Related: <\/strong><\/em>Ethereum could be AI\u2019s key to decentralization, says former core dev<\/strong><\/em><\/a><\/p>\n

Ether\u2019s price action over the past three weeks is painting a possible bear flag pattern<\/a> on the daily chart, as shown in the figure below. A daily candlestick close below the flag\u2019s lower boundary at $1,600 would signal the start of a massive move downward.<\/p>\n

The flagpole\u2019s height sets the target, putting Ether\u2019s potential price drop target at $1,100, or a 33% drop from the current price.<\/p>\n

\"Ethereum
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ETH\/USD daily chart with potential bear flag. Source: Cointelegraph\/<\/em>TradingView<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Meanwhile, one key indicator to keep an eye on remains the relative strength index, or RSI<\/a>, which is still below the 50 mark, suggesting that the market trend still favors the downside.<\/p>\n

As Cointelegraph reported<\/a>, ETH’s price may ultimately bottom out at around $1,000<\/a> based on several other factors.\u00a0<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n