Although Ethereum and Bitcoin were created with different intended purposes in mind, they are both an option worth considering from an investor’s point of view.
After the recent crash of the crypto market, Ethereum price has recovered and ETH is now trading above $2800 for the first time in recent weeks.
Ethereum gives a higher utility when compared to Bitcoin. Ethereum has earned global recognition, thanks to its momentous growth, evidenced by the introduction of smart contracts, NFTs, and yield farming.
Per the Goldman Sachs report, the support for the narrative that Bitcoin’s scarcity is what makes it a veritable store of value is no longer tenable.
Vitalik Buterin proposed sharding as a major solution to bypass the current scalability challenges.
The Altair upgrade will seek to return the original strictness into the new Ethereum protocol.
Buterin is positive and encouraged by the huge strides made by technology and apps in the recent past, with Ethereum technology being a part of the progress.
Based on the rise of the ETH/BTC pair, Pal said that Ethereum shows strength over Bitcoin and it could lead the way to move the crypto market out of correction.
Ethereum touches down on the most sensitive topic i.e. energy consumption by blockchain and says that it will reduce nearly 99% of its current energy use by transitioning to the PoS model.
Bybit has also revealed their plans for the grand opening of cloud mining services on May 20.
Elon Musk’s tweets send ripple across the crypto market, with the overall crypto market cap taking a dip under $2 trillion before recovering once again.
Vitalik Buterin offloaded nearly 50 million SHIB coins through wallet transactions while donating the proceeds of the sale to India’s Crypto Covid Relief Fund. He also donated to the Ethereum-based fundraising platform Gitcoin.
However, despite the bullish calls, UNSW associate professor Elvira Sojli thinks the Ethereum price will trade around $1,850 by the end of 2025.
Ethereum has been one of the best-performing digital assets this year. The digital coin’s year-to-date gains are over 480% and despite its slight slide, its value is up by 65% over the last 30 days and 7.4% in the last 24 hours.
As of the press moment, Uniswap has generated $7.1 million in fees over the past 24 hours. Meanwhile, Bitcoin’s 1-day fees reached $4.6 million. Both Uniswap and Bitcoin are remaining behind Ethereum the daily fees’ revenue of which has reached $117.2 million.