PANews reported on December 16 that Matrixport analysis showed that Ethereum failed to keep up with the market in the 2024 Bitcoin bull run, with its dominance rate dropping sharply from 18% to 12%, while Bitcoin's dominance rate once climbed to 61%. The launch of the Ethereum ETF failed to reverse this trend, and the market focus gradually shifted to emerging blockchain ecosystems such as Solana.

However, the report points out that 2025 may be a key turning point for Ethereum. The inflow of funds from the Ethereum ETF may attract more traditional financial institutions (TradFi) to enter the market, pushing Ethereum to become a "dark horse" in the market and achieve a strong rebound in the future.