Cardano $ADA following Ethereum's footsteps in bear market: ADA's performance aligns with Ethereum's path during 2020 bear market
Throughout the previous bear market, Bitcoin dominance increased from approximately 35% to a whopping 73%, largely as a result of the market's flight to the perceived safety of the crypto heavyweight. However, in the last 25 months, the dominance of Bitcoin has only risen from about 39% to 49%, revealing a different pattern this time. This seems to indicate a shift in the crypto landscape, leaning toward a multi-chain future where several blockchains coexist and thrive simultaneously.
It’s true that Ethereum dominance has impressively remained at 20% this bear market and there’s certainly a story there, so congrats to them. ADA is just doing what ETH did too last bear market and is still well above the 2020 lows
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