Ethereum Surpasses the $500 Billion Dollar Market Cap

e_abrams

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Dec 11, 2020
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Ethereum is officially surpassed the $500 billion market cap. ETH is truly the world’s second largest crypto asset with this landmark. The recent rally that Bitcoin experienced, Ethereum was quick to reap the benefits and its retail demand jumped impressively in the last 24 hours.

Coinmarketcap revealed a set of data that disclose Ethereum’s market cap crosses yesterday, on Wednesday. It is for the first time in history that Ethereum jumps the $500 million limit.

In the last few weeks ETH demand among large crypto fishes has dramatically increased. A report by Santiment – an on-chain analysis platform- reveals that the most ETC-rich wallets have increased their ETH holding by almost 14% in just 10 weeks.

It is no wonder that Ethereum is in the top 5 listings of the world’s most popular crypto assets. Its position as the second-best performing crypto coin is well deserved. Just consider that the price of one ETH was $730 on January 1st, while at its highest it was $4 297 (on May 12th).In the last couple of day, the price has spiked by more than 60%.

However, the overall market dominance of Ethereum is still quite insignificant when compared to that of Bitcoin, the current global crypto leader. Bitcoin’s recent spikes have resulted in a decrease of Ethereum’s overall market dominance. Currently, ETH accounts for some 17 percent of the overall cryptocurrency market cap.
Source
This is a great development for Ethereum, but Bitcoin remains the undisputed leader of cryptos, I think.
 

louisejames

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Jul 14, 2021
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It’s a demand and supply thing. Ethereum is being utilized as a core by technology giants and businesses to create customized blockchain models. So the demand for Ethereum is increasing day by day that becomes one of the reasons for its rise.
 

Dora_WalletInvestor

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Aug 17, 2020
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walletinvestor.com
It’s a demand and supply thing. Ethereum is being utilized as a core by technology giants and businesses to create customized blockchain models. So the demand for Ethereum is increasing day by day that becomes one of the reasons for its rise.
Supply and demand is definitely part of Ethereum's price movements, and a lot of projects use its blockchain. Another important thing is people's sentiment about ETH, and that is also pretty positive in general.
 

e_abrams

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Dec 11, 2020
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It is quite amazing how sentiment toward cryptos changed so much in the past few years. Now they have practically become mainstream.
 

Bungey

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Dec 16, 2021
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Bitcoin is sure an undisputed leader in the world of cryptocurrencies but ethereum still managed to reach quite close to it. At the heart of ethereum’s success is the idea of smart contracts, NFTs and most importantly its upgrade to an eco-friendly version. Whether ethereum will surpass bitcoin or not will only be known once the platform’s validation system will move from ‘proof of work’ to ‘proof of stake’ because right now the bitcoiners are in support of bitcoin’s protocol being more decentralised than ethereum.
 

e_abrams

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Dec 11, 2020
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Personally I don't think Ethereum will surpass Bitcoin in the foreseeable future. As for NFTs, I think time will tell whether they are a fad or not.