Part 5/8:
As Bitcoin's dominance begins to weaken, the market is observing a growing interest in altcoins. The altcoin dominance, a metric that looks at the overall market cap of all cryptocurrencies excluding Bitcoin, Ethereum, and stablecoins, shows a resurgent interest as these assets have recently outperformed Bitcoin.
A driving force behind this renewed enthusiasm could be attributed to the influx of money into the cryptocurrency market. Observing the minting of stablecoins such as Tether (USDT), where Fiat is converted into cryptocurrencies to trade, provides insights into market activity. The rate of minting stablecoins has seen a growth of nearly 6% since a significant contraction following the collapse of Terra Luna.