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Ethereum: Is the king of altcoins eyeing Bitcoin’s throne post the Merge

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ambcrypto.com

The Merge has finally launched on Ethereum [ETH] and nothing has been the same ever since. What had hoped to be a major bullish event has turned into a short-term beacon of pain for ETH traders.However, the post-Merge crypto market is witnessing a strange trend reversal as Ethereum‘s trading volume share hit an all-time high.

This pattern put an end to Bitcoin [BTC]‘s trading dominance and even raised questions of its favouritism in the crypto community.ETH registered nearly 2/3rd of the market share of trading volume during last week’s sell-off.

The crypto market also observed this shift in narrative for some time as ETH tripled its market share since 2020. This suggested a “durable shift” in market structure away from BTC.Source: Kaiko ResearchThe post-Merge crypto markets have been in a free fall as major assets crippled since last week.

Bitcoin fell by over 16% while ETH slumped by a quarter of its value during the same period.Ethereum-forked tokens, such as ETHW and ETC also witnessed dramatic drops since then.

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