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Bitcoin Beats Rest of Crypto Market as Ether, DeFi Tokens Struggle

Bitcoin's market share of all cryptocurrencies rises to highest since April 2021.

Oleh Krisztian Sandor|Diedit oleh Nick Baker
Diperbarui 18 Okt 2023, 11.38 a.m. Diterbitkan 17 Okt 2023, 10.05 p.m. Diterjemahkan oleh AI
BTC price on Oct. 17 (CoinDesk)
BTC price on Oct. 17 (CoinDesk)
  • Bitcoin showed strength above $28,000 on Tuesday, while ether, uniswap and sui struggled.
  • BTC's market share of all cryptos rose to 52%, its highest since April 2021.
  • Bitcoin still has "the upper hand" among digital assets due to a potential spot BTC ETF approval and next year's halving event, ByteTree analysts said.

Bitcoin [BTC] continued to outperform the cryptocurrency market as Ethereum's ether [ETH] and decentralized finance, or DeFi, tokens slid Tuesday.

BTC, the largest digital asset by market cap, sunk to $28,100 early during the day before rising to near $28,500, slightly up over the past 24 hours.

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Meanwhile, ETH showed weakness and dropped 1.8% to near $1,560 over the same period, marking a fresh 15-month low price relative to BTC. The broader digital asset market proxy, the CoinDesk Market Index, was slightly down by 0.6%.

Among crypto sectors, the CoinDesk DeFi Index (DCF) struggled the most during the day with its 3.7% decline, led by decentralized exchange UniSwap's native token [UNI] tumbling almost 7% after Uniswap Labs said it will impose a 0.15% fee on some trades executed via its front end starting Tuesday.

The native token of the Sui blockchain [SUI] plummeted 7.6% as the director of the South Korean Financial Supervisory Service reportedly raised concerns that the Sui team could be manipulating the supply of the token via staking. The Sui Foundation called the report "materially false."

Rising bitcoin dominance

Bitcoin's strong showing drove its market share among all cryptocurrencies – also known as the Bitcoin Dominance Rate – to over 52%, its highest level since April 2021, TradingView data shows.

The metric can go even higher, according to investment advisory firm ByteTree, as market participants yearn for a not-fake approval of a spot BTC exchange-traded fund and bitcoin's quadrennial halving approaches early next year, considered bullish for the asset's price.

"Crypto is much less risky today than at any time over the past two years," ByteTree analysts said in a Monday market report. "But, with halving close at hand, we sense bitcoin still has the upper hand for a while longer."

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Protocol Research: GoPlus Security

GP Basic Image

Yang perlu diketahui:

  • As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
  • GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
  • Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

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Barclays Sees ‘Down-Year’ for Crypto in 2026 Without Big Catalysts

(Jose Marroquin/Unsplash)

Spot trading volumes are cooling, and investor enthusiasm is fading amid a lack of structural growth drivers, analysts wrote in a new report.

Yang perlu diketahui:

  • Barclays forecasts lower crypto trading volumes in 2026, with no clear catalysts to revive market activity.
  • Spot market slowdowns pose revenue challenges for retail-focused platforms like Coinbase and Robinhood, the bank said.
  • Regulatory clarity, including pending market structure legislation, could shape long-term market growth despite near-term headwinds.