The dominance of Tether (USDT), the largest stablecoin by market capitalization, has seen a notable decline over the past year. This trend might suggest a potential for an altcoin market rally. As Bitcoin faces challenges in surpassing the $69,000 resistance level, more investors are turning towards alternative investments within the crypto market.
According to TradingView data, USDT's dominance has decreased by 0.53%. This drop in USDT dominance is happening concurrently with Bitcoin’s difficulty in breaking through its resistance levels, highlighting a shift in investor interest towards altcoins.
The anticipation for an altcoin market rebound has grown, with crypto investors becoming increasingly eager to explore opportunities beyond the major cryptocurrencies. As USDT’s market share diminishes, it's creating a more dynamic environment for alternate coins to potentially thrive and capture investor attention.
