As the overall crypto market experiences a severe correction, mainstream cryptocurrencies have been declining over the past 24 hours. Among them, Ethereum (ETH) has been particularly weak, leading in price decline and dropping to a one-year low in market share, raising market concerns about its long-term competitiveness.
Table of Contents
ToggleTop Ten Non-Stablecoins Decline Across the Board
According to the latest market data, the top ten non-stablecoin crypto assets have almost universally declined over the past 24 hours:
| Cryptocurrency | Price | 24h Decline | 7d Decline | 30d Decline |
|---|---|---|---|---|
| Bitcoin (BTC) | $75,458.93 | -8.94% | -8.18% | -12.34% |
| Ethereum (ETH) | $1,465.36 | -18.24% | -18.79% | -31.23% |
| XRP | $1.68 | -19.21% | -18.59% | -28.41% |
| BNB | $531.62 | -9.79% | -11.03% | -10.89% |
| Solana (SOL) | $97.59 | -17.97% | -22.84% | -29.53% |
| TRON (TRX) | $0.2223 | -6.56% | -4.25% | -10.63% |
| Dogecoin (DOGE) | $0.1323 | -19.59% | -19.55% | -32.50% |
| Cardano (ADA) | $0.5207 | -18.37% | -19.90% | -36.65% |
| UNUS SED LEO | $8.86 | -3.29% | -2.69% | -10.10% |
| Toncoin (TON) | $2.85 | -12.09% | -27.03% | -3.83% |
ETH's decline is among the top among major cryptocurrencies, with its market value evaporating by over 30% in thirty days, indicating a clear shift in investor sentiment towards conservatism.
ETH/BTC Long-Term Technical Structure Breaks
According to ultrasound.money, the ETH/BTC market cap ratio has been gradually weakening since its 2017 high point, and has recently clearly broken below a long-term upward support line, symbolizing that the years-long expectation of "Flippening" (Ethereum surpassing Bitcoin's market cap) is entering a winter period.
Market Cap Ratio: ETH Faces Double Blow
According to CoinMarketCap's latest statistics, as of April 7th:
Bitcoin's market dominance is 63.0%, creating a new yearly high;
Ethereum's market share is only 7.5%, clearly sliding from 9.1% a month ago;
ETH's market share has reached its lowest point since 2024, indicating continuous capital outflow.
Ethereum Application Activity Weakens, Gas Consumption Reflects Demand Decline
According to Etherscan's Gas Tracker, the main trading activities on Ethereum are primarily USDT, Uniswap, and DeFi operations like Aave lending, but overall Gas usage has significantly decreased, indicating reduced on-chain transaction demand.
In comprehensive observation, Ethereum is currently facing multiple pressures of price decline, decreasing market cap ratio, technical structure breakdown, and weak chain activity. Although ETH is still considered the leader in the smart contract field, if it cannot regain market confidence, its dream of "flipping Bitcoin" may become increasingly distant.
Risk Warning
Cryptocurrency investment carries high risk, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
