Recently Ethereum’s price has been soaring, hitting a new all-time high of $4,146.33 despite the high cost in transaction fees. Ethereum’s total market capitalization, which stands at 475 Million dollars, overtook the Bank Of America as the world’s largest asset. As of the time of writing it has eclipsed the likes of consumer giants such as Walmart, Johnson and Johnson and is now knocking on the door of JP Morgan Chase. We attribute the price surge to Ethereum’s blockchain increased usage and institutional interest.
The Ethereum team has been working on version Ethereum 2.0. Ethereum will move from a proof of work consensus algorithm to a proof of stake algorithm. This basically means, to mine more ETH (release new ETH coins into circulation) one will require buying and hold ETH coins in his or her wallet and the more you have the more you can mine.
Could there be a flipening?
A flipening is a scenario where a coin or token takes the top position from bitcoin. Back in 2017 Ethereum was close to doing the same. The big question today is, will Ethereum overtake Bitcoin the most dominant and parent of all cryptocurrencies? Well, we are yet to find out.
As ETH’s price soars hitting a new all time taking a huge chunk of Bitcoin’s dominance, you might be interested to buy some ETH with your local currency. Probably try out the new billionaires technique of investments, dollar cost averaging (buying an asset partially frequently over time).
We have made this easy for you to digest and understand. You can buy or sell ETH on Bitzlato at zero fees, meaning what you buy is exactly what you will get. We guarantee the safety or security of your coins at all times. To get started, watch this quick tutorial.