Will Ethereum Become The #1 Cryptocurrency?
Ethereum’s Ether token was worth about $8 in early January, and has surged almost 5,000% this year to reach a $412 all-time high, according to data from CoinMarketCap. Bitcoin, on the other hand, started 2017 at around $960 per coin, and has recently been flirting with the $3,000 mark, before dropping over 10% of its value.
Earlier this year, Bitcoin’s dominance was above 80%, but over time Ethereum and other altcoins have been growing at an incredible pace – so much so there are now 7 cryptocurrencies with a market cap above $1 billion. At the time of press, bitcoin’s dominance is at 40.48%, while Ethereum has already gotten to 31.87%.
Right now, Ethereum’s total market cap is of $35.53 billion, while Bitcoin’s is at $44.74 billion – less than $10 billion separate the two cryptocurrencies. This is still a huge gap but, as Bruce Fenton put it on Twitter:
Ethereum will surely go to places.
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Thanks for the article. Do you think bitcoin will pull back more! Meaning people jumping from bit to Eth
Thank you @chriswilcox28. Following the pattern ETH has displayed these past few weeks, am afraid anything may happen