The bitcoin has had some difficulties, falling below the 47 000 dollar barrier to reach its lowest point in two months on April 25th, following a sharp drop as the excitement created by Coinbase's initial public offering (IPO) waned.
Ether, on the other hand, has reached a new high of over 2 500 dollars, bringing the bourse capitalization of the second largest cryptocurrency to 300 billion dollars (247,5 billion euros) for the first time.
About the fact that ether is still well behind bitcoin's market capitalization of $1 trillion, some analysts believe the dauphin would not be slow in dethroning bitcoin, which already accounts for 48 percent of the global cryptocurrency market, according to CoinGecko.
"As bitcoin loses its historic market dominance, the currency of 'the computer world' begins to sway, revealing long-foreseen indexes of ether's depreciation," Tim Frost, PDG of Yield App, a decentralized asset management platform.
Tim Frost adds that now that the ether has crossed the $2500 mark, it could "quickly" rise to $3500.
Unlike bitcoin, ether not only maintains a decentralized payment network, but also stores computer codes that power contracts and software that are currently unhackable.
In terms of bitcoin, it has worked hard to define its use, transitioning from a potential currency to a reserve of value, among other things.
Sergey Nazarov, cofounder of Chainlink, a network of oracles that secures assets worth more than 15 billion dollars on the Ethereum blockchain, said that the recent ether raid was fueled by the growth of decentralized financial apps, which now total more than 63 billion dollars.
Source: Website
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