Bitcoin Crushes Ethereum: A New Era Of Dominance?
Ethereum is struggling against Bitcoin, which now dominates the crypto market. With a market share of 57%, Bitcoin seems to be consolidating its dominant position, while Ethereum, at 13.5%, is fighting to maintain its place. Is a new era of Bitcoin dominance underway?
Bitcoin crushes Ethereum and dominates the crypto market!
According to the latest data, Ethereum has reached its lowest level in several years compared to Bitcoin, wiping out all gains made since 2021. This significant decline highlights the growing strength of Bitcoin, which continues to consolidate its dominant position. In October 2024, Bitcoin’s market share rose to 57%, its highest level since March 2021. In contrast, Ethereum’s market share fell to 13.5%, its lowest level since before Ethereum’s merger in September 2022.
This situation raises questions about the long-term viability of Ethereum. While Bitcoin continues to enjoy investor confidence and institutional recognition, Ethereum seems to struggle to maintain its position. The reasons for this decline are numerous: scalability issues, high transaction fees that Vitalik Buterin forecasts will reduce by a factor of four, and increased competition from newer, more efficient blockchains.
Has Ethereum become obsolete?
It would be premature to declare Ethereum dead. The Ethereum blockchain remains the platform of choice for many decentralized applications (dApps) and smart contracts. Moreover, the transition to Ethereum 2.0, with its switch to proof of stake (Proof of Stake), aims to address some of the scalability and cost issues. This update could potentially reignite interest in Ethereum and strengthen its market position.
In conclusion, although Bitcoin currently seems to overshadow Ethereum, it is important to consider future developments. Bitcoin’s dominance is undeniable, but Ethereum still has advantages and ongoing projects like “The Verge” that could change the game. The question remains open: will Bitcoin remain the undisputed king of crypto, or will Ethereum manage to recover and regain its past glory?
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Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.