CNN covers Ethereum and other altcoins in their recent business column articles, highlighting the trends in crypto. Bitcoin has been the center of attention recently but now Ethereum is getting the spotlight thanks to CNN so let’s find out more in our Ethereum news.
The latest CNN coverage only cements the fact that altcoins are spreading everywhere and are entering the minds of investors in the space. This was also boosted in the 2017—era coins like Nano, Verge, and others. Previously, the main focus was on larger caps like Defi-based coins like Aave and YFI as well as Ethereum. CNN covers ethereum and other altcoins in their business articles as the mainstream attention for these coins is enhancing as most outperform BTC in the past few weeks. CNN wrote:
“While bitcoin has soared 15% in the past week to hit a new all-time high just under $20,000, ethereum — the second-largest crypto after bitcoin — is up more than 20% in the past seven days. Meanwhile XRP, the third-largest cryptocurrency, has surged nearly 25%. Litecoin, Polkadot, Cardano and Stellar, which are all among the top dozen biggest cryptocurrencies, have enjoyed larger gains than bitcoin, too.”
Rachid Ajaja, the CEO of Alliance Block said that he expects BTC to be outperformed by Ethereum in the near future:
“There has been more demand from mainstream financial managers about cryptocurrencies, and the big question is what is the relative value for these altcoins compared to bitcoin. There is probably more upside in ethereum than bitcoin.”
Cementing on the rise of altcoins in the public space is Paul Tudor Jones as the billionaire asset manager said to Yahoo Finance that he saw interest in Tether and Ethereum. He said that he is not “smart enough” to articulate a bull case on the world of multiple crypto assets, he thinks that there will be a world where the crypto asset will be seen as a precious one. In reference to the real world, there are precious metals like gold and industrial metals like copper. Ethereum will likely be the precious metal of the crypto space.
As recently reported in our ETH news, Ethereum consolidated above $600 recently and tested the $625 level against the US dollar. The price is still consolidating above it and will likely set up the next move to the upside
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