Ethereum Reaches Record high
It is highly noted that millions of business investors looked satisfied on what was likely the best year ever for cryptocurrencies. Interestingly Ethereum reaches record high and no matter which they put their money in. Though the market’s attention was strongly focused on bitcoin’s impressive five-figure price tag, other familiar cryptocurrencies achieved even greater gains.
Bitcoin once illustrated over 85% of the total crypto capitalization in now stands at just 43%. This is primarily due to competition from other coins like Ethereum, but also the coins that were developed with Ethereum itself. These new entrants professionally captured the imagination of investors in 2017, managing in several ways to steal bitcoin’s familiar thunder.
By holding a single bitcoin from January through December 2017 actually corresponded to unrealized gains of around $13,500 while the same feat for one Ethereum rewarded around $750. Also most would consider bitcoin the better investment, but not when they’re supplied with the starting price of each coin. Ethereum’s January 2017 price of around $7 means that it immensely gained an astounding 10,000% in 2017. The star of the show, bitcoin, started the year at about $800 and actually managed to add about 1,500% to its price.
As per many experts point of view Ethereum has good potential, 2017 been the year of ERC-20 tokens. More amazingly it would be very interesting since Ether is currently traded at about 70% from Bitcoin’s all-time high levels. As many blockchain companies grew, Ethereum actively echoed the ecosystems proliferation. Global businesses and investors alike quickly reaped the rewards of this new style of crowd funding, and Ethereum massively gained market capitalization and price accordingly. Altogether Ethereum’s percentage of the industry’s total capitalization was almost 40%, on par with popular bitcoin. Everyone accept that Ethereum, the second biggest cryptocurrency by market cap, broke to an all-time high.
Altogether the increasing number of projects actively built on the Ethereum blockchain could actually lead investors to pour more money into rival cryptocurrencies to bitcoin and primarily expects this phenomenon to eventually assist Ethereum to overtake its bigger rival.