Public blockchains are in the business of selling block space. A good blockchain has blocks filled with activity that people are willing to pay for. To me, this is one of the core indicators to determine how valuable a blockchain is as it literally translates to how much people are willing to pay to use the ledger. The parties behind the Algerian president’s governing majority dominated local and regional elections, while Islamist parties saw their support diminish, according to official results. The long-ruling FLN party won the most seats in town halls around Africa’s largest country, followed by allied party RND. Support for Islamist parties El Bina and the MSP fell sharply compared to June legislative elections. Alongside BSC, Polkadot, Cardano, Near Protocol, and Solana are Ethereum’s top competitors, all of which have also grown substantially. Nonetheless, Ethereum has another trick up its sleeve – Polygon . Until the ETH 2.0 upgrade completes, Matic is there to remove the congestion as a multichain scaling solution.
Flippening Progress Bar:
1 ETH = 1 BTC Price Progress Bar:
— ETH/BTC Tracking (@FlippenTracking) November 29, 2021
Still, while some analysts focused on the promise of the ethereum network, others emphasized the perceived difficulties bitcoin has encountered of late as the reason this development could be likely. The bigger question is whether or not this goal can be achieved. It is certainly true Ethereum’s value has skyrocketed these past few days. At one point, the ETH/BTC pair briefly surpassed the 0.15 threshold. Right now, it has dropped to roughly 0.14 and may go below it for some time. The flippening will not happen overnight by any means, though. Sustaining the 0.177 point will be quite challenging, to say the least. Once the effects of the Taproot upgrade come to the forefront and developers start constructing a DeFi ecosystem around the Bitcoin network, then that could turn into a whole new argument.
Although China’s recent crackdown on the crypto industry has been difficult for its once-thriving Bitcoin mining sector, the aftermath may be a net positive for blockchain in terms of decentralization and profits for miners in other countries. Peirce accused the SEC of engaging in “merit regulation,” trying to divine the future of Bitcoin and its long-term viability, and said it was overstepping its authority by applying an unprecedented standard. Setting up a Bitcoin ETF has been on the wish list for many in the cryptocurrency and investment industries for years. As Bitcoin’s market cap and mainstream appeal have grown, the SEC’s refusal to approve Bitcoin ETFs is creating confusion about what requirements the regulator may have in mind for such a product. Many, including Peirce, appear to be tiring of rationalizing behind the rejections.
NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. And it seems like DiPasquale is not the only one seeing this price in ETH’s charts – and quite soon. “This momentum is likely to build further in the near-term and I believe ether will hit 5,000 within seven days,” he said. Tether’s flippening brings a concern to some members of the Ethereum community. They believe that USDT’s long history of controversy might not be a step in the right direction since its influence keeps increasing. As a reminder, just a few months ago, Tether became the 4th largest currency by market capitalization.
With a number of decentralized applications currently operating on the network, the use cases of the Network are diverse and never-ending. While Rai claims that Bitcoin is a better store of value, Ethereum actually represents the decentralized space. Ethereum hit its all-time high above $4,700 on Nov. 8th while Bitcoin breached $65k on the same day. It seems that the entire market acquired a bullish stance as the ETH market cap shot up by nearly 4%, resting at $558 billion.
He added that older blockchain networks like Bitcoin and Ethereum are more resilient to quantum attacks. As things stand, the cheapest CryptoPunk currently on sale is available for a base price of 115 Ethereum, or $392K approximately. Furthermore, as per crypto data aggregator Dune Analytics, the last year or so has seen a record number of people enter the DeFi ecosystem, with the figure currently standing at around 3,285,643 users as of August 31. While fees have come down drastically, Ethereum is still generating 4x of Bitcoin’s fees daily.
What Would Flippening Mean For Crypto Markets?
As reported by CryptoSlate previously, the analyst commented that BTC and ETH will likely “race each other” to a trillion dollar valuation in the coming years. It’s the remarkable energy inefficiencies that could render Bitcoin obsolete in the current climate-conscious age, however. In-depth research determine where and how companies may appear. Historical Mortgage Rates A collection of day-by-day rates and analysis. Current Mortgage Rates Up-to-date mortgage rate data based on originated loans.
Is ethereum greener than Bitcoin?
Ethereum creator Vitalik Buterin has confirmed that the crypto will go through a complete overhaul this year which will reduce the energy consumption by almost 99 per cent and make Ethereum 2.0 more environment friendly than Bitcoin.
Ethereum was certainly looking more bullish on Tuesday, trading up over 5% higher in comparison to Bitcoin, which was bouncing up less than 2%. In the interview, Mashinky also suggested that behind the flippening would be the different use cases both BTC and ETH have. Per the CEO, Bitcoin’s primary use case is being a store of value, while Ethereum’s major use case is yield farming. The CEO of Binance, Changpeng Zhao , also brings another plausible positive feature of stablecoins.
Tabtrader Token Is Launching On Acceleraytor And Solanium
Bitcoin hit a new record high in October after the launch of the bitcoin ETF in the U.S. A situation hoped for by Ethereum fans, where the total market cap of Ether surpasses the total market cap of Bitcoin. A massive crypto market selloff set back the prices of Bitcoin and Ethereum by more than 50%. Ether fell a lot harder, wiping out more gains, but has since recovered a lot better. The name to describe the moment when Litecoin surpassed Bitcoin Cash in terms of market capital… – Please THUMBS UP and comment if you appreciate the chart and TA x big love xx ___________________________________________________________________________________ Here we have the MOST Powerful players in the whole of crypto – Bitcoin & Ethereum… Paired together; and if having a knack for trading pivots, can be one of the best ways to increase… The trader, known as Capo, says that he is betting on Ethereum over Bitcoin if the crypto market enters a new bullish period.
— casperbgd.crypto 🏴 🦇🔊🔺 (@casperBGD) November 23, 2021
The growth in the trade volume of Ethereum exceeded that of Bitcoin so far in 2021, according to a report from Coinbase Global Inc. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Nevertheless, BTC retains its market dominance of 44.85%, whereas ETH has a market dominance of 18.3%, according to CoinMarketCap.com. Over the weekend, Ethereum went beyond the $2,300 barrier for the first time since mid-June, following significant capital outflows last month; hence Ether is anticipated to gain further traction as the EIP-1559 blockchain update approaches. Once the transition to proof of stake is done the buying pressure will be much lower. New people in the space might think it is “expensive” and worry that they have missed the boat.
Ether’s market cap is still 2.2x away from reaching Bitcoin’s, but the latter’s dominance continues to decline as Ether gains ground. Coin Metrics report this week notes that, for the first time, the number of ERC-20 transactions has surpassed the number of transactions done in ETH itself. And as popular as those tokens are, they could be on the verge of giving way to the newer class of non-fungible tokens. Forks are clones of a current code-base that is modified with a different vision. With Ethereum, we see the current version as a fork of Ethereum Classic, which was a fork to strengthen security against future attacks similar to the DAO. By contrast, the Bitcoin community has attempted/executed forks including… Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, and SegWit2x.
Does Elon own Dogecoin?
The series of tweets from Musk came shortly after he had confirmed that he currently holds only three cryptocurrencies — Bitcoin, Ether, and Dogecoin.
As markets respond to these developments, Rupsys expects ether’s market capitalization, or the total value of its available token supply, to surpass bitcoin’s. Indeed, ether’s market cap has been drawing steadily close to bitcoin’s amid a broader uptick in interest for so-called ‘tokens’ based on the platform, with the two cryptocurrencies worth $35.9bn and $43.7bn at the time of report. Ethereum is not a threat to Bitcoin because of Ethereum’s early move towards becoming the dApp platform of choice. Indeed Bitcoin has excelled as a store of value and is likely to continue to do so due to it’s geographic and political independence. From an Ethereum stand point, the ability to create stable coins effectively is the biggest threat to Bitcoin’s dominance, however stable coins are still pegged to today’s geographic and judicial boundaries. Therefore they don’t have the same power as Bitcoin and can be shutdown by the appropriate authorities. With on the other hand Bitcoin as long as there is someone on the network somewhere out there it will still keep working. As for Ethereum being deflationary again this is another experiment. This means if mainstream adoption was say 1% i.e. 300 million transactions of that throughput , the impact on the Ethereum network will will be significant across all dimensions.
Please don’t interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder.com compares a wide range of products, providers and services but we don’t provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. Finder.com is an independent comparison platform and information service that aims to provide you with information to help you make better decisions. We may receive payment from our affiliates for featured placement of their products or services. We may also receive payment if you click on certain links posted on our site. To ensure you have the most up to date information, you should verify relevant information with the product or service provider and understand the information they provide. If you are unsure, you should get independent advice before you apply for any product or commit to any plan. Several prominent altcoins, including Ethereum , have been able to post sizable gains recently despite Bitcoin being stuck around the $48K range. As a result of Ethereum’s recent push, the altcoin has been able to accrue monthly gains over 35%.
China’s government has either banned or placed restrictions on crypto mining in Inner Mongolia, Xinjiang, Yunnan and Sichuan provinces, the country’s four biggest crypto mining locations. Crypto miners have had to put their mining rigs up for sale or ship them out of China. All of which begs the question of whether bids to offer ETFs backed by other cryptos might fare any better with the SEC. Data from analytics firm CryptoQuant also shows that Ethereum reserves in cryptocurrency exchange wallets are at a 26-month low, under 21 million ETH. The three-part answer may excite the crypto faithful in general and Ethereum enthusiasts in particular. The Celsius Network CEO said that short-sellers and traders made the most of this bad news. Looking at the positive, he adds that the China crackdown has helped decentralize the control over Bitcoin mining. Mashinsky adds that Celsius Network has invested over $200 million in BTC mining operations in America.
Lmao, flippening my ass, btc gets wrecked : eth gets wrecked
— Rudoh (@Rudoh_) December 1, 2021
Comparatively, two years ago, Bitcoin ruled over 67% of the crypto space while Ethereum dominance was just 8%. While Bitcoin’s dominance dropped, ETH dominance nearly tripled in these two years. Raznick is a graduate of the University of Michigan, where he started multiple companies. He has been quoted in a variety of financial news publications, such asCNBC, theWall Street Journal, and theNew York Post. Raznick has been named to the Crain’s Detroit Business 40 Under 40 list as well as the DBusiness 30 in Their 30s list. Benzinga is based in Detroit, and Raznick is dedicated to helping rebuild Detroit as a hub of technology and finance. From breakouts to unusual volume, analyst ratings, futures and options, Benzinga is the leading full-service, one-stop shop for investors of all stripes and styles. EthereumETHbroke up bullishly from a daily inside bar at 10 a.m.
Your timeline for the flippening might just be right, this is crazy, all the way through a major correction eth is just destroying btc without any good news in particular or anything
— SecondBris (@SecondBris) November 24, 2021
By investing in major ICOs like the iDice crowdsale, you are capitalizing on the future of blockchain gambling on the Ethereum network. Not only will Ethereum continue to grow, iDice will grow on top of it – creating a multiplicative effect for your return. Read more about Bitcoin Price here. Returns on investments for Ethereum casino shares have historically ranged from 10x at the minimum to 50x at the maximum. We believe iDice will be no different once the crowdsale is listed on major exchanges. There are 6,209,058 ETH in the ETH 2.0 deposit contract, worth around US$14.8 billion at the coin’s current price. On Jan. 1 this year, Bitcoin’s market dominance was 71%, far above Ethereum’s 10%. Today, however, the smart-contract blockchain has 18.1% of the entire crypto market, against Bitcoin’s 42.5%. Bitcoin Exchange Guide is a hyperactive hybrid of heavy-handed cryptocurrency content curation creators from christened community contributors who focus on delivering today’s bitcoin news, crypto-asset user guides, and latest blockchain updates. For some time now, Ether has been outpacing Bitcoin in the futures market as retail and institutions alike went for the second-largest cryptocurrency. Compared to BTC futures volume’s increase of nearly 30% to a new ATH of $2.47 trillion, ETH futures’ volume surged much sharply by 94.7% to a new ATH of $1.7trn.
If you’ve been in the cryptocurrency space for more than a month, chances are you’ve come across the term Flippening. As silly as it may be to pronounce, the term refers to the foretold event in the possible future that Bitcoin will be dethroned by another cryptocurrency. When measuring the USD versus other currencies, there isn’t a better one, and “I think this is something that needs to be pointed out,” he added. The volume of ETH traded grew by nearly 1461% against Bitcoin’s 489% compared in the same time period. The statistics are based on a report published by Coinbase Global that considers data from the top 20 cryptocurrency exchanges. Fellow Fool contributor Zhiyuan Sun suggested buying Solana on the dip three weeks ago.
- After Bitcoin crashed and most ICOs under delivered you can see on the chart that Ethereum gave back way more of its market cap than BTC during the bear market.
- The impending London hard fork could see the gap narrow even further.
- “Together with this is the long-term trend towards stronger-handed market participants holding the majority of Bitcoin while the rest of the world continues to be drawn into owning their stake in the headline cryptocurrency,” added Peckham.
After Bitcoin crashed and most ICOs under delivered you can see on the chart that Ethereum gave back way more of its market cap than BTC during the bear market. The first is that gas fees have become very expensive in the last couple of years because the network has become so popular and is therefore very congested. This means these applications can all run without being controlled by a company. Examples include cryptocurrency exchanges, insurance systems, and new kinds of gaming. On the other hand, the main opportunity on Bitcoin is simply sending it to another address. But regardless, there’s less economic opportunity on the Bitcoin network, making it less desirable to pay a higher transaction fee. If you can earn 20% APY on USD and have $100K to deploy, you’re probably willing to pay a sizable fee to make that transaction happen. If you’re looking to buy a cryptopunk for millions of dollars to show off in the Metaverse, you’re probably willing to pay a significant fee to make sure that your transaction goes through. If you there’s a new Uniswap gem that you think is going to 10x, you probably don’t care what the gas fee is.
At the heart of the platform is the idea of smart contracts, which are automated agreements that ensure that money and assets change hands when certain conditions have been fulfilled. All transactions on the platform ultimately use ether, and the success of the platform is why ether has been the second-largest cryptocurrency after bitcoin for the past few years. The fact that ether fuels the platform – even being referred to as gas fees – gives it a utility and an intrinsic value that bitcoin does not have. The trading of NFTs — non-fungible tokens — alone could one day overshadow cryptocurrencies, said Brian Armstrong, co-founder of crypto exchange Coinbase, in a recent Bloomberg interview. Bitcoin’s blockchain is not designed to support the smart contracts required for such applications. “The code in bitcoin is a very poor man’s code..it’s not very sophisticated,” says Biais, the HEC professor.
If it happens we could see a 20-60k eth by the end of the bullrun if btc reaches +200k. The appeal of Ethereum is growing at a pivotal time in the retail investing landscape, as more investors than ever are opting to buy into cryptocurrencies. Although a value of $5,114 seems to be a significant leap from its current price of around $4,000, it pales in significance compared to 2025, in which experts anticipate a price of around $15,364 per coin. The cost of Ethereum by 2030 is even more mind-boggling, with $50,788 expected to be reached by the end of the decade. “Bitcoin is still stuck at scaling dilemma,” said Marius Rupsys, cryptocurrency trader and co-founder of fintech startup InvoicePool. “If some kind of agreement were achieved, could regain much of its dominance.” Analysts queried by CoinDesk largely believe ethereum’s ether token is most likely to spur the change, given it has increased 3,000% this year with no signs of slowing. Ethereum has the richest ecosystem in the crypto space, and DeFi, which largely lives on Ethereum, today holds vast amounts in total value locked, despite the early summer downturn and assertions that DeFi was just a bubble with no inherent value. Ethereum is trading above the above the eight-day exponential moving average but slightly below the 21-day EMA, with the eight-day trending below the 21-day, which indicates indecision. If Ethereum can regain the 21-day EMA as support and remain above it the eight-day will cross back above the 21-day, which would be a bullish sign for going forward.