This month, Ethereum has been one of the best-performing cryptocurrencies out of the top 10, having increased in value to 46% and even outperforming its main rival Bitcoin by 12%, which is a rare occurrence in itself.
The interesting fact is that on the global charts, the Ethereum dominance has increased only slightly since the beginning of the year from 7.46% to 7.74% as of the first days of February, but even those 0.28% had a significant impact on the price of the 2nd cryptocurrency.
Global dominance chart
Facing important resistance
There is no denying the fact that Ethereum is currently on the brink of fully confirming the trend reversal and declaring authoritatively the commencement of the awaited bull market, during which Vitalik Buterin’s brainchild would make another attempt at getting nearer to its all-time high of $1,570 that is still 88% away.