Ethereum’s market share drops to 13.1% amid competition from altcoins like Solana, which grew 131.7% in 2024. The Dencun upgrade reduced Layer 2 fees but led to Ethereum’s lowest Layer 1 fee revenue in years. Future upgrades, like Pectra, target scalability, but Ethereum faces rising app-chain and alt-L1 competition. Binance Research recently published a report titled “”, analyzing Ethereum’s shifting role in the crypto ecosystem and exploring major trends influencing its value. According to the report, Ethereum has been a cornerstone of the blockchain revolution, but its place in the…
Binance Report: Ethereum’s Market Share Hits 2021 Low, Altcoin Dominance Surges to 28.2%
