Solana Hits New Record High as Layer 1 Tokens Follow Bitcoin’s Gains

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The bitcoin dominance ratio, which measures bitcoin’s market capitalization relative to the total crypto market capitalization, dropped to as low as 44.62% over the weekend, before it returned to roughly 45% on Monday, according to TradingView. The decrease in the dominance ratio in the past few days indicated that at least part of bitcoin’s momentum had shifted to other tokens (altcoins).

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