The Ethereum price is nearing previous all-time high levels, while Bitcoin appears to be stuck in a sideways motion between $34,000 and $38,000.
Ethereum’s momentum has been gradually strengthening over the past few weeks, leading it to outperform Bitcoin. Since 1 January 2020, ETH has seen an 80% increase, while BTC has only seen a 27% increase. Ethereum is up more than 12% over the past 24 hour period, with bulls likely to strengthen as Ether approaches previous ATH levels.
https://twitter.com/cz_binance/status/1351375887703293953
Ryan Watkins, Senior Research Analyst at Messari took to Twitter, to boast that Ethereum’s daily transaction volume “is going parabolic”. Included in the Tweet was a chart showing that Ethereum (including Ethereum-powered stablecoins but excluding non-stablecoin ERC-20 transactions to avoid double-counting DEX volumes.) have processed $12.3 billion in transactions over the past 24 hours, compared to Bitcoin (Including USDT issued on Omni) $9.3 billion, a massive $3 billion difference.
Ethereum's daily transaction volume is going parabolic.
It now settles $12 billion in transactions daily – $3 billion more than Bitcoin.
Imagine not being bullish $ETH. pic.twitter.com/3NfOz1ruiM
— Ryan Watkins (@RyanWatkins_) January 19, 2021
Ethereum is not the only altcoin making waves. Polkadot (DOT) also continues to be one of the top-performing altcoins up over 100% in the past 7 days, surging to over $19, flippening XRP in terms of market cap, to become the fourth largest crypto by market cap, according to CoinMarketCap.
Feature image by guncel medya from flickr