Ethereum: faster than Bitcoin

Ethereum: faster than Bitcoin

What happened?

Until April, Bitcoin and Ethereum were having very similar trajectories. Both coins reached and re-established themselves at their corresponding all-time highs - Bitcoin at $60,000 and Ethereum at $2,000 and continued going sideways ceding some of the gains. However, while Bitcoin has dropped below the 50-MA floating 10% below the all-time high level, Ethereum kept going upwards and crossed $3,000! Moreover, it's been going upwards since, and currently, it trades at $3,400. As a result, if Bitcoin's market cap was forming around 70% of the total digital currencies value in trade, it is now below 50%. Is Bitcoin losing its place as a primary crypto coin?

What does it mean?

Nobody really knows. Proponents of cryptocurrencies suggest that the rise of Ethereum represents the further expansion of most tokens out there as the majority of them operate based on Ethereum technology. Bitcoin is becoming a digital reserve asset like gold used to be among traditional assets, and Ethereum is seen as a more risky one. Will the rally continue? Observers hesitate to comment but the fact is there: more fiat money is invested in the market of digital assets - that eventually pushed Ethereum through the mark of $3000, and it may be another $3000 in the upside waiting to get crossed. 

What can you do?

              You can trade Bitcon, Ethereum and other crypto currencies in the FBS Trader!

234234.png

                                                                                                  LOG IN 

Similar

Will the CPI Crash the USD?
Will the CPI Crash the USD?

 The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!

Latest news

The US Dollar Is Correcting
The US Dollar Is Correcting

Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?

Bearish Signal For The USD
Bearish Signal For The USD

XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera