In recent years, we’ve seen Bitcoin’s market dominance decrease, especially following the rise of decentralized finance (DeFi), which has allowed various ecosystem tokens to thrive. Nevertheless, Bitcoin’s influence on the market remains strong and continues to dominate the entire space.

In 2024, Bitcoin’s dominance is trending upwards, now standing at 56%, while the growth of ETH and BNB has been almost negligible.

It’s undeniable that DeFi has brought significant diversity to the crypto space, but we have yet to witness any major breakthroughs from DeFi projects in this market cycle. For DeFi to make a meaningful impact and reshape the market, new innovations are needed.

The question remains: What key factors will drive DeFi’s growth and development in the future?

Exciting to see Bitcoin's dominance on the rise again! DeFi has definitely added diversity to the market, but innovation will be key for its future growth. Can't wait to see what breakthroughs the DeFi projects will bring next! 🚀