Ethereum is Crowding Bitcoin
While Bitcoin is consolidating below $ 64 thousand after yesterday’s growth, the Ethereum exchange rate continues to conquer record highs. The second largest digital currency was marked at new peaks beyond the level of $ 4,600 at auction on Wednesday, after which it slightly rolled back. This is the sixth week of a continuous rise in the altcoin rate, which now seems to be aiming at the psychological mark of $ 5,000.
In the wake of the faster-growing dynamics of Ether, the cryptocurrency community has again started talking about the stronger prospects of this cryptocurrency in comparison with bitcoin. By the way, thanks to the recent rally, the market capitalization of Ethereum has almost reached 20%.
The attractiveness of the largest altcoin increased after the update in the Ethereum network
Which occurred at the end of the summer and limited ETH inflation by destroying part of the commission that miners received as a reward. Investors who “picked up” Ethereum in the second half of September, the purchase has already brought almost 2 thousand dollars, and if you believe the prevailing market forecasts, altcoin is just warming up and intends to show new victories both in the near future and in the longer term.
Ripple also shot well, which jumped to almost two-month highs today, almost continuously rising in price since the collapse on October 27. The quotes reached $ 1.2335, but recently rolled back under $ 1.2 amid local profit-taking. In the wake of the recent rise in the XRP exchange rate, trading volumes have also increased noticeably, and after a short pause, it seems that we can count on a new rally.