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 <p class="is-style-lead">In a Nov. 15 post on X, Kaiko, a leading market data provider, reports the market share of altcoin and Ethereum spot <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> relative to Bitcoin has risen to 60%.</p>
 <p>This marks its highest level in more than a year.</p>
 <h2 class="wp-block-heading" id="catching-attention">Catching attention</h2>
 <p>Kaiko’s data goes on to show that market share <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>s were sitting at 55% back in August of this year, with previous months being dominated by Bitcoin (BTC).</p>
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    <p lang="en" dir="ltr">Altcoin <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>s are up <br><br>The market share of altcoin + ETH spot <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> relative to BTC has risen to 60%, its highest level in more than a year. pic.twitter.com/8KDZcoZWFf</p>— Kaiko (@KaikoData) November 15, 2023
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 <p>It is worth noting that market sentiment towards Ethereum (ETH) and other altcoins has caught the attention of many headlines in the&nbsp;last few weeks, both in relation to ETF news and the&nbsp;Federal Reserve’s decision&nbsp;on interest rates.</p>
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    <p lang="en" dir="ltr">ETH/BTC has trended downwards ever since the Merge.<br><br>However, ETH sentiment finally shifted last week after BlackRock filed for a spot ETH ETF, causing the ratio to reverse. pic.twitter.com/wzqZFlpgww</p>— Kaiko (@KaikoData) November 14, 2023
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 <p>Notably, a Nov. 14 post, also from Kaiko, had shown that ETH/BTC had been trending downwards since the Merge; however, following BlackRock’s filing for a spot ETH ETF, the ratio had seen a reversal, while at the same time, several altcoins have since shown double-digit pumps according to CoinMarketCap’s 24-hour charts.</p>
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   Top Crypto Gainers and Losers | Source: CoinMarketCap
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 <p>According to&nbsp;Fortune, these numbers suggest the return of risk on and “old times” are now imminent.&nbsp;</p>
 <div class="cn-block-related-link">
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Kaiko reports Alameda gap still exists
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 <h2 class="wp-block-heading" id="a-different-market-cycle">A different market cycle</h2>
 <p>In contrast to last month, on&nbsp;Oct. 17, Bitcoin had experienced a significant surge, soaring by almost 10% to surpass $19,500. Conversely, major altcoins such as Ethereum had sustained a downward trend.&nbsp;</p>
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 <p>At the time, the Crypto analyst Jason Pizzino attributed this disparity between Bitcoin and altcoins to be something expected based on the current market cycle.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Kaiko reports exchange de-listings at an all-time high
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/altcoin-volumes-up-to-60-according-to-kaiko-data-tbt70450.html">https://thebittimes.com/altcoin-volumes-up-to-60-according-to-kaiko-data-tbt70450.html</a></p>

Altcoin volumes up to 60%, according to Kaiko data

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