After the past difficult months for Ethereum (ETH) with its price reaching $100, the crypto community lost all hope about one of the most popular cryptocurrencies. However, in the latest ethereum news, we can see that the price of ETH passed $120 and reached a market cap of $12.60 billion and managed to overtake Ripple which is now valued at $0.30.
Ethereum has now been traded more than 6 times of the volume of XRP and its volume surpassed $3.1 billion. On the other hand, XRP’s trading volume is at $480 billion.
The delay of the Constantinople hard fork has influenced the entire market and threw some pessimistic sentiment but the reschedule could be one of the reasons why Ethereum spiked in price.
Both of the cryptocurrencies have strong and active communities. ETH is mostly dedicated to being a blockchain for building dApps and smart contracts but also has a strong ecosystem which is supported by Enterprise Ethereum Alliance. Also, it has a lot of influence on IT giants such as Microsoft. Vitalik Butrin always highlights how important decentralization is and that it is one of the core principles of blockchain and cryptocurrencies.
XRP, on the other hand, was initially created to serve to financial institutions and banks. It has incredible technology such as xRapid that provides cheap and fast cross border transactions.
It will be very interesting to see and follow the developments on the market especially between these two major cryptocurrencies and to see their effect on the entire market.
Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum
Crypto Market Adds $10 Billion, Currently With $134bn. In Circulation
EOS Skyrockets By 30% In 24 Hours: How Far Can This Altcoin Go?
Ethereum Price Increases By 13% Overnight, Is The Market In For Recovery?
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
Join us on Facebook
- The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
- US Exchange Giant Coinbase Acquires Blockchain Startup Neutrino
- Central Bank Of Japan Examines Digital Currencies According To New Report
- Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum
- Craig Wright Calls Out Ethereum For Being Unable To Scale
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News5 days ago
Bloomberg Editor: JPMorgan’s Cryptocurrency Will ‘Obliterate’ Ripple
Regulation5 days ago
New Blockchain Framework Bill Passed Into Law In Luxembourg
Bitcoin News3 days ago
Bitcoin Is Closer To A First Positive Month Since July 2018
Altcoin News4 days ago
Norwegian Anarcho-Capitalist City Adopts Crypto As Official Medium Of Exchange
Altcoin News3 days ago
ETH-Based Maker (MKR) Outperforms In February With 37% Gains
Bitcoin News5 days ago
Is It About Time Millennials Invest All-In On Bitcoin: Investor Talk
Regulation3 days ago
SEC’s ‘ICO Guide’ With A Gloomy Outlook For Cryptocurrency In 2019
Altcoin News3 days ago
Top Cryptocurrencies See Green, Ending Week With A Positive Action