The virtual currency Ethereum has always been seen as a promising alternative to Bitcoin and in today's times it has spiked out and strengthen its position in top 3. It is the direct competitor of Bitcoin, it should have been on 2nd place, but Ripple with the support of banks infiltrated in between.
Cryptocurrencies have become a highly publicized topic in the past years and became more popular than ever this year. Most news bulletins at one point included a detailed material in which they tried to explain in a practical way the mechanism and the use of the cryptos. Over time, the phenomenal coverage has only increased the value of these cryptos, even if currently there are still major difficulties in understanding and explaining the use of them or how they bring value.
In the past few months and weeks, the value of the big cryptocurrencies has grown steadily. Their numbers are also on the rise with the promise of solving different real problems, but given the volatility of the market, it is difficult to advise someone to make investments in Bitcoin, Ethereum, Ripple, IOTA or others alike.
Regardless of the opinion you have about these cryptos, they tend to be more and more difficult to ignore. An Ethereum has just exceeded the 1000$ psychological threshold, although its value has been for more than a year around several hundred dollars. As a result of this increase, the total value of the Ethereum traded in the market jumped to 100 billion.
In other words, there are several cryptocurrencies with a total market value of several billion dollars, but Ethereum has amazed everyone. After last month's fluctuation between $ 700 and $ 800, it grew in just a few days by 40%. Thus, the estimated value of Ethereum at present is 13% of all market. We all are precarious and we tend to evaluate before making an investment that can turn out to be a failure, but most of the key players involved in the cryptocurrency market sustain the Ethereum framework and what it offers at a global scale. So, in my opinion, looking at the success of Bitcoin and where it reached today, I don't see any reason for why Ethereum not to have the same evolution as Bitcoin.
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