Ethereum is Bitcoin’s number one rival in a sense that they’re both decentralized cryptocurrencies. It gained a significant amount of value due to the surge in the market last week, up to the extent that made it overtake XRP and claimed the second place in the ranking of Cryptocurrencies according to their market cap.
Ethereum’s price jumped by 3 percent just in the past day and is now valued at 120 USD each, based on the most recent data on the crypto news site CoinMarketCap, XRP remained stagnant and a lot had put their hands to it, because of the way it gained value over the past 7 days.
Now valued at 3,600 USD, Bitcoin has gained 5 percent of value over the past 7 days after pessimisms that it’s value might go down due to a Litecoin network upgrade.
Ethereum flexes its muscle
Valued at more than 12.6 billion USD, Ethereum is now 8 pct more valuable than XRP at just 12.5 Billion USD. To put it in to context, valued at 2.6 Billion USD, Litecoin has just taken 4th place in the list of the biggest Cryptocurrencies, just these past few days.
The way Cryptocurrencies performed these past few days makes it very enticing for the investors, because of the upgrades on its network, Litecoin is expected to soar up to 40 percent more in value. But we can’t get too excited, it’s always important to keep in mind that we are currently in a bear market.
Some experts might say otherwise, 5,000 USD is the value that Bitcoin should achieve before we can all get relaxed and know that we’re out of the bear market.
There has been a statement that showed a lot of Ethereum applications are unused, then immediately after, Ethereum’s price increased. The statements shown that out of 1,300 active dApps (decentralized apps), almost 90 percent has no users at all, on the other hand, just below 10% of the dApps on Ethereum processed some kind of activities on Saturday.