How does altcoin dominance impact the trading volume of cryptocurrencies?

1 answers

• Anthony HallMay 17, 2021 · 4 years ago
  At BYDFi, we have observed that altcoin dominance can have a significant impact on the trading volume of cryptocurrencies. When altcoin dominance increases, we typically see a surge in trading activity for altcoins as investors diversify their portfolios and seek opportunities in the altcoin market. Conversely, a decrease in altcoin dominance often leads to a decrease in trading volume for altcoins, as traders may shift their focus towards Bitcoin or other cryptocurrencies. It's important for traders and investors to keep an eye on altcoin dominance as it can provide valuable insights into market trends and potential trading opportunities.
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