Ethereum Market Cap Looks to Overtake Bitcoin

Bitcoin has led the cryptocurrency revolution for nearly a decade. In the process, it has become the most recognizable name in the new world of digital currencies, and for many years it dominated the industry by maintain a position of 80% or more of the total cryptocurrency market cap. In the past few months, Bitcoin has also skyrocketed in price, practically tripling in value since the beginning of the year. And yet, in spite of these indicators of its dominant status, there is reason to believe that one of Bitcoin's competitors, a much newer cryptocurrency called Ethereum, is on pace to overtake the iconic digital currency in at least one respect: market capitalization.

39% to 31% As Of Last Week
By Wednesday, June 14th, Bitcoin had seen its share of market capitalization drop from 87% among all cryptocurrencies down to 39%. This sharp decline is in stark contrast to the precipitous gains in value that have accompanied the coin over the same time period of roughly the past four months. At the same time, Ethereum has seen its share of the total market capitalization of digital currencies rise by a considerable amount, too. From 5% of all market capitalization just four months ago, the two year old currency has now claimed nearly a third (31%) of all market capitalization for the industry.

A graphic representation by analysts at CoinMarketCap reveals both the extent of Bitcoin's former dominance in the cryptocurrency field as well as the rapid shift which has brought Ethereum much closer to Bitcoin's level.

Read more update on bitcoin and etherium price

http://www.investopedia.com/news/what-affecting-bitcoins-price/

http://www.investopedia.com/news/ethereums-market-cap-looks-overtake-bitcoins/

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