Ethereum is now at 80% of Bitcoin market capitalization

Ether has blown through the $300s and is now right at $400/coin, increasing its market cap to $36.7 billion. Bitcoin approached $3000 this weekend but has come back down to $2778 and a total market cap of $45.5 billion.

Ether is poised to pass Bitcoin in total market cap and supplant it as the number one cryptocurrency by market cap. Perhaps, with the smart contract functionality and widespread corporate adoption that the Enterprise Ethereum Alliance enjoys, this should not be a surprise.

I predict that Ether will pass Bitcoin by the end of June and further that this will be a hugely positive development for the cryptocurrency community in general because it will generate significant headlines in mainstream media and drive further interest in the space.

Bitcoin being supplanted by a competitor is a big step and shows that the space is getting more mature. It will be exciting to see what happens next!