Quant Suggests Bitcoin Will Be Back In The Driver Seat After Ethereum Merge

A quant has suggested that Bitcoin will again become the driving force in the crypto market once the Ethereum merge hype dies down. Bitcoin Share Of Crypto Trading Volume Already Seems To Be Overtaking Ethereum’s As explained by an analyst in a CryptoQuant post, there are some signs that point to BTC surpassing ETH once more to be the dominant power in the market. The relevant indicator here is the “dominance by volume,” which measures what part of the total crypto trading volume is contributed by each coin in the sector. The “trading volume” is a metric that measures the total amount of crypto being involved in transactions in spot markets. Now, here is a chart that shows the trend in the dominance by volume for both Bitcoin and Ethereum: The value of the metric for BTC seems to have crossed over that of ETH in recent days | Source: CryptoQuant As you can see in the above graph, the Bitcoin percentage share of the trading volume was significantly higher than Ethereum’s during the start of July. However, as the middle of that month approached, ETH slowly started surging up and passing above the BTC volumes. Related Reading: Bitcoin Taker Buy Sell Ratio Hits Highest Value in 636 days In August, the ETH dominance by volume remained higher than BTC’s for the entire month, save for a couple brief spikes for the latter. This continued into September, until just a few days ago. The reas...