Work In Progress - Total Market Cap (excluding BTC and ETH)
Last Bull Market was about BTC and alts, we saw some alt seasons clearly noticeable using the BTC Market Dominance Chart but now we have something a bit different. BTC is King and will remain King but that King found a Queen (nothing really new, no matter how you name it).
For some traders/investor, ETH died a long ago. Nevertheless, as we know ETH reborn like a phoenix from the ICO ashes to be the most innovative and used Defi network. Not everything is great since ETH network is quite expensive. We all miss the sub 5 gwei fees for sure…
Anyway, using some alternative methods to find where/when alts could be in exhaustion or expansion I decided to also use this new Market Cap Chart.
On the top we have the Total Market Cap excluding BTC+ETH and below the Market Cap Dominance (excluding BTC+ETH). I do believe we now need to merge BTC and ETH into a single entity since ETH is clearly not behaving like many alts. I also believe ETH will remain more volatile than BTC. This chart isn’t about finding patterns/opportunities for each crypto but instead looking at everything to see where alts may find support or resistance, switching the cycle from alts to BTC+ETH or vice versa.
By the way, I'm not assuming ETH will move with BTC but they complete themselves.
For some traders/investor, ETH died a long ago. Nevertheless, as we know ETH reborn like a phoenix from the ICO ashes to be the most innovative and used Defi network. Not everything is great since ETH network is quite expensive. We all miss the sub 5 gwei fees for sure…
Anyway, using some alternative methods to find where/when alts could be in exhaustion or expansion I decided to also use this new Market Cap Chart.
On the top we have the Total Market Cap excluding BTC+ETH and below the Market Cap Dominance (excluding BTC+ETH). I do believe we now need to merge BTC and ETH into a single entity since ETH is clearly not behaving like many alts. I also believe ETH will remain more volatile than BTC. This chart isn’t about finding patterns/opportunities for each crypto but instead looking at everything to see where alts may find support or resistance, switching the cycle from alts to BTC+ETH or vice versa.
By the way, I'm not assuming ETH will move with BTC but they complete themselves.
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