Ethereum Leaves Bitcoin In The Dust After Post-Upgrade Rally

Ether ETH/USD significantly beat this year's Bitcoin's BTC/USD gains, with many speculating that it may become the world's top cryptocurrency altogether.

What Happened: According to CoinMarketCap data, Ethereum is currently priced at $2,779, which is 278% higher than the price of $736 reported on Jan 1, 2021.

This means that investment in Bitcoin would have returned 237% less than investment in Ethereum.

The second leading cryptocurrency has again started gaining momentum, as proponents have revisited an idea of the "flippening" — a theoretical scenario in which Ether's market cap overtakes that of Bitcoin.

There are multiple reasons behind the increasing interest, but it is mostly about the coin price's growth outpacing its big brother's as positive fundamentals attract institutional and retail capital.

What Else: As recently reported, a software update introduced to the Ethereum blockchain yesterday started the process of burning Ethereum tokens each day.

In the 21 hours from the activation of the update to press time, the network already burned about 4,300 ETH — equivalent to nearly $12 million.

Read more: Ethereum Overtakes PayPal, Bank Of America, Nike, And Pfizer In Market Cap As Proponents Set Their Eyes On Bitcoin

This changed the perspectives of those who largely attributed Bitcoin's superiority as an investable asset to its limited 21 million supply and decreasing new coin issuance scheduled to halt completely over the long run.

Still, there are much more factors setting those two assets apart other than their inflation rate and much more to consider before deciding what would be the best investment choice.

See also: How to Buy Ethereum (ETH)

Posted In: BitcoinBlockchaincryptocurrenciesEthereumHard ForkCryptocurrencyMarketsTechTrading Ideas

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