Bitcoin dominance drops to 50.03%

Recently, the XRP rate has grown by almost 70%. The reason for this was the court decision in the case of the US Securities and Exchange Commission (SEC) against Ripple Labs. As demand for XRP rises, Bitcoin’s dominance is falling.

At the end of June, this figure exceeded 50%. The day before the announcement of the decision on the said lawsuit, the level of Bitcoin dominance in the market was 51.6%.

During the day, from July 13 to 14, the value decreased by 2.6%. This is the biggest daily drop since June 2022. At the time of writing, the figure is 50.03%, according to Trading View:

Amid the XRP rally, other altcoins also rose significantly in price. During the day, the MATIC rate jumped by 9.36% (to $0.84), according to CoinMarketCap. SOL also demonstrated steady growth – 25.28% in 24 hours.

This could be a sign of the beginning of the alt season, analysts at Decentral Park Capital are sure. This conclusion can be traced from the report of the agency, which refers to CoinDesk. Crypto is Macro Now by Noel Acheson warns from too optimistic views on the movement of altcoins. However, she also believes that the outcome of the SEC lawsuit against Ripple Labs could serve as an important element of Coinbase’s defense strategy in a dispute with the regulator.

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