According to reports, the market capitalization of Ethereum (ETH) has reached $500 billion for the first time. The second-largest cryptocurrency in the world has been in the headlines, thanks to a streak of new all-time highs.
With the increasing worth and prominence of ETH, many have started to wonder if it will soon cross Bitcoin and be the top cryptocurrency in the world, which has been a long-anticipated event.
While that may not be clear as day at the moment, the surging price of ETH indicates good news for the existing investors and traders. The potential investors, on the other hand, can avail the opportunity and use popular exchanges such as SwissBorg or Kraken to buy Bitcoin or Ethereum, considering the impressive growth of both digital assets.
Market Capitalization of Ethereum
Ethereum has taken many by surprise as its market capitalization was recorded to be higher than Visa, earlier today. The worth of the leading altcoin has peaked above $500 billion for the first time, which is a remarkable milestone for the digital asset.
The cryptocurrency reached a new all-time high, recorded to be more than $4,300, which significantly pushed its market cap to new heights.
How ETH’s Price Surge Affects BTC’s Dominance?
The continued rise in Ethereum’s price has been overpowering Bitcoin’s dominance in the market, to some extent. Looking at the trends of both cryptocurrencies in the past few weeks, it can be identified that the price of Bitcoin has been quite volatile while Ethereum has been hitting a series of new ATHs.
The market shares of the flagship cryptocurrency (Bitcoin) were recorded to be 44 percent while previously being 74 percent, at the beginning of January. The increasing worth of Ethereum has somewhat affected Bitcoin’s price, which has led people to speculate that ETH might overtake BTC at one point.
What Should Bitcoin Investors and Traders Do?
Bitcoin’s dominance can be seen as slightly compromised while Ethereum is reaching new all-time highs. But could this mean that Bitcoin will cease to be the leading digital currency?
While there are several factors to consider and analyze, people interested in buying or trading Bitcoin can be sure of its position in the crypto world. Someof the top organizations and companies in the world have been investing in Bitcoin and enabling their customers to make Bitcoin payments for their services. This is one of the most significant factors likely to facilitate Bitcoin in retaining its value and position, despite occasional volatility.
Therefore, people who are interested in buying Bitcoin or start trading Bitcoin can be at ease and use secure and reliable exchanges to start crypto trading or investing. SwissBorg or Kraken are two popular crypto exchanges for potential investors to purchase Bitcoin and even Ethereum.
On the other hand, ByBit is also among the popular exchanges for people who intend on starting crypto trading. People who have a busy schedule but are interested in crypto trading can also participate by opting for copy-trading and using PrimeXBT Covesting.