Solana hits new high as Layer 1 tokens track Bitcoin gains

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The bitcoin dominance ratio, which measures bitcoin’s market cap relative to the total crypto market cap, fell to 44.62% over the weekend, before falling back to around 45% on Monday. according to TradingView. The decrease in the dominance ratio over the past few days has indicated that at least part of bitcoin’s momentum has shifted to other tokens (altcoins).

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