Home Altcoins News Ethereum (ETH) Closely Examined Has Huge Potential in the Blockchain and Cryptocurrency Space

Ethereum (ETH) Closely Examined Has Huge Potential in the Blockchain and Cryptocurrency Space

Ethereum ETH

Most of us are left wondering what is going on with Ethereum.  The ETH price rise is meteorically high.  It just looks like a coin that might take over BTC with further improvements. Will the market cap of ETH take over Ethereum? A lot has to happen before ETH can flip BTC.

Bitcoin dominance refers to the market cap of Bitcoin against all other kinds of Altcoins.  It is a measure of how much of the total market cap of crypto is comprised of Bitcoin.  When BTC Dominance increases, alts on the whole lose BTC value. When BTC Dominance decreases, alts on the whole gain BTC value.

The most well-known way to measure “Bitcoin dominance” over other cryptocurrencies is by calculating relative market capitalization, i.e. comparing the total supply of circulating tokens multiplied by current price.

The battle of which cryptocurrency and blockchain pair will eventually dominate the rest continues to be. Ever since the beginning, BTC continues to top the crypto wave.

Many times Altcoins skyrocket in terms of value along with BTC and at other times they are not affected by the BTC price. Most of the time when the price of BTC increases, there is an increase in trading volume of the BTC and this in turn attracts investor interest away from the rest of the alternative assets.

When BTC is dominant the alts lose their value. Technically, it is very much possible for BTC value to come down to zero and crash, but that is a very rare thing to happen.

There are several Altcoins which have helped investors make more money than Bitcoin. Ethereum has more focus on utility along with aspects of decentralization. However, there is not much guarantees for censorship resistance.

There are others who keep wondering why only ETH. There are ETH killers, which have the option to flip ETH and take its place. Things can change drastically.

Until some alt like that flips off ETH, there is a lot to love about ETH, their DeFi movement, and they have been decentralizing several areas of trust. Some analysts feel that it is not about who will flip who, for now BTC and ETH are going to share the dominant spot in the cryptocurrency space.

When the Ethereum network is closely examined, anyone will be able to see that it’s potential is huge.

The European Investment Bank issued its first ever digital bond on the Ethereum blockchain, ether’s underlying network. And, a lot of things are yet to follow. 

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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