Bitcoin's market dominance has been on a steady decline since 2017, making room for altcoins to shine. Ethereum, in particular, has been gaining traction, with its market cap now at an all-time high. The increasing adoption of DeFi and NFTs could propel ETH to new heights.

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The rise of DeFi and NFTs is a significant factor in Ethereum's growing popularity. Its smart contract capabilities make it an ideal platform for these innovations, which could further solidify its position in the market.