BTC And ETH Oscillations Over The Weekend
Following a weekend of fluctuating prices, both Bitcoin (BTC) and Ethereum (ETH) are returning to their winning ways. In the last 24 hours, Bitcoin increased by 6.13% and Ethereum by 9.21% to reach $51,263 and $4,416 respectively.
However, Ethereum has emerged as the winner since more money has trickled into its network than Bitcoin. According to on-chain analyst Matthew Hyland, BTC was worth $609 billion as of January 3, while Ethereum was worth $111 billion.
At present, Bitcoin has a market capitalization of $967 billion and Ethereum is valued at $522 billion. Due to this, Ethereum has a higher difference of $411 billion than Bitcoin’s $358 billion, thus indicating ETH has seen more money trickle into its network so far in 2021.
Ethereum recently demonstrated having a higher annual return of 663% than Bitcoin’s 195%. Ethereum’s ecosystem has been gaining popularity in the crypto space with a couple of use cases. It has become crucial to sectors such as non-fungible tokens (NFTs) and decentralized finance (DeFi).
TEAM ALPEX Global