比特幣主導地位跌至 50% 以下，預示著潛在的山寨幣季節即將到來

比特幣的主導地位最近顯示出下降的跡象，其市場份額跌至關鍵閾值以下。因此，資本越來越多流入山寨幣

Bitcoin’s [BTC] dominance has recently shown signs of decline, with its market share slipping below key thresholds.

比特幣的主導地位最近顯示出下降的跡象，其市場份額跌至關鍵閾值以下。

As a result, capital is increasingly flowing into altcoins, sparking debate among investors and analysts.

因此，資本越來越多地流入山寨幣，引發了投資者和分析師之間的爭論。

Is this a sign that Bitcoin is losing its grip on the market, or is it merely a temporary dip in an otherwise dominant trend?

這是比特幣正在失去對市場控制力的跡象，還是只是主導趨勢的暫時下跌？

Bitcoin’s dominance has recently fallen below the 50% mark, indicating a significant shift in the crypto market landscape.

比特幣的主導地位最近已跌破 50% 大關，顯示加密貨幣市場格局發生了重大轉變。

This decline can be observed in the 1-day chart attached, where Bitcoin’s dominance is depicted falling below a crucial support level.

這種下降可以在所附的 1 日圖表中觀察到，其中比特幣的主導地位已跌破關鍵支撐位。

Zooming out further showcases this decline, highlighting a weakening hold on the market.

縮小範圍進一步顯示了這種下降，突顯了市場的疲軟。

This decline in Bitcoin’s dominance suggests a growing interest among investors in altcoins, as capital is flowing into these assets en masse.

比特幣主導地位的下降表明，隨著資本大量流入這些資產，投資者對山寨幣的興趣日益濃厚。

This shift is evident in the ranking of coins by active addresses, where altcoins like Ethereum [ETH], Solana [SOL], and emerging tokens are showing strong performance.

這種轉變在按活躍地址劃分的代幣排名中很明顯，其中以太坊 [ETH]、Solana [SOL] 等山寨幣和新興代幣表現出了強勁的表現。

Historically, Bitcoin’s dominance has varied with market cycles.

從歷史上看，比特幣的主導地位隨著市場週期的變化而變化。

During the early crypto era, Bitcoin commanded over 90% of the market.

在早期的加密貨幣時代，比特幣佔了 90% 以上的市場。

However, the 2017 bull run marked a turning point as altcoins surged, reducing Bitcoin’s dominance to below 40%.

然而，2017 年的多頭市場標誌著一個轉折點，山寨幣飆升，將比特幣的主導地位降至 40% 以下。

While Bitcoin regained some ground in subsequent cycles, hitting around 70% in 2021, its market share has since faced steady erosion.

儘管比特幣在隨後的周期中收復了一些失地，並在 2021 年達到了 70% 左右，但其市場份額此後面臨著穩步侵蝕。

This ebb and flow of Bitcoin’s dominance is driven by evolving narratives, technological innovations, and shifting investor preferences.

比特幣主導地位的潮起潮落是由不斷發展的敘事、技術創新和不斷變化的投資者偏好所驅動的。

As the crypto market matures, it is leaving Bitcoin to compete with an increasingly diverse ecosystem of digital assets.

隨著加密貨幣市場的成熟，比特幣正在與日益多樣化的數位資產生態系統競爭。

The transition of capital into altcoins also coincides with a potential ‘altcoin season,’ as indicated by the ranking of coins based on active addresses.

資本向山寨幣的轉變也恰逢潛在的“山寨幣季節”，如基於活躍地址的代幣排名所示。

Coins like Ethereum, Stellar [XLM], and TRON [TRX] are experiencing a remarkable uptick in activity.

以太坊、Stellar [XLM] 和 TRON [TRX] 等代幣的活動正在顯著增加。

Transaction rankings further highlight TRON’s dominance, with 7.41 million transactions showcasing its growing role in payments and DeFi.

交易排名進一步凸顯了 TRON 的主導地位，741 萬筆交易顯示了其在支付和 DeFi 領域日益增長的作用。

Stellar follows closely with 2.37 million, highlighting its strength in cross-border remittances.

Stellar以237萬緊追在後，凸顯其在跨國匯款的實力。

Meanwhile, Ethereum maintains relevance with 1.26 million, focusing on high-value activities like DeFi and NFTs.

同時，以太坊保持著 126 萬的相關性，專注於 DeFi 和 NFT 等高價值活動。

Insights from the Bitcoin dominance chart further reinforce this trend.

比特幣主導地位圖表的見解進一步強化了這一趨勢。

As Bitcoin’s market share declines, altcoins like Ethereum, Solana, and TRON have managed to carve out a significant space for themselves.

隨著比特幣市場份額的下降，以太坊、Solana 和 TRON 等山寨幣已成功為自己開闢了廣闊的空間。

In some sectors, Ethereum now commands over 20% of the market share, while emerging players like Avalanche [AVAX] are seeing steady inflows.

在某些領域，以太坊目前佔據超過 20% 的市場份額，而像 Avalanche [AVAX] 這樣的新興參與者正在看到穩定的資金流入。

This dynamic signals a redistribution of capital as investors are looking beyond Bitcoin for value.

這種動態標誌著資本的重新分配，因為投資者正在超越比特幣尋找價值。

The shift from Bitcoin dominance to altcoins is driven by a combination of factors.

從比特幣主導地位轉向山寨幣的轉變是由多種因素推動的。

Regulatory pressures have also pushed investors toward altcoins with compliant frameworks, such as Stellar, while macroeconomic uncertainty encourages diversification.

監管壓力也促使投資者轉向具有合規框架的山寨幣，例如Stellar，而宏觀經濟的不確定性則鼓勵多元化。

Furthermore, technological advancements, like the upgrades to Ethereum, are enhancing the competitiveness of altcoins.

此外，技術進步，例如以太坊的升級，正在增強山寨幣的競爭力。

Although cyclical, Bitcoin’s market share decline reflects a maturing ecosystem, where altcoins are gaining structural importance.

儘管具有週期性，但比特幣市場份額的下降反映了生態系統的成熟，而山寨幣在該生態系統中變得越來越重要。

This shift signals a potential long-term change rather than a fleeting “altcoin season.”

這種轉變標誌著潛在的長期變化，而不是短暫的「山寨幣季節」。

As the market evolves rapidly, this diversification highlights evolving investor priorities.

隨著市場的快速發展，這種多元化凸顯了投資者不斷變化的優先事項。