Ethereum’s Market Cap Lags $1 Trillion Behind Bitcoin (BTC): Here’s When ETH Will Catch Up?
The post Ethereum’s Market Cap Lags $1 Trillion Behind Bitcoin (BTC): Here’s When ETH Will Catch Up? appeared on BitcoinEthereumNews.com.
As of 5 November 2024, Bitcoin has not only managed to maintain its status but has also expanded its market capitalization to $1.37 trillion, which is quite significant, with its price reaching $69,401. On the other hand, Ethereum, which is a major player in this sphere, still falls short with its market value of $295.7 billion and its trading price being $2,455. This raises the question in the minds of many investors who wish to know if Ethereum can ever bridge this gap that is over a whopping $1 trillion. While it’s within the realm of possibility for Ethereum to up its game, some factors might make things difficult or, at best, slow down the momentum. Trends That Are Stagnating Ethereum Scalability issues are perhaps the main problem for Ethereum, as they are for many new cryptocurrencies, and these do not appear to go away with time. Even now, many users face excessive fees and network congestion during busy times, despite Ethereum’s recent switch to a proof-of-stake consensus. Shifts to Eth2.0 will bring about changes that promise improvement, but whether these changes can turn the tide given the emerging increasing efficiency of blockchain networks is wholly unknown. The intensity of competition that is growing day by day is also a major constraint. Even while Ethereum has previously been the leader in deploying dApps and smart contracts, newer transactional speed and economic efficiency on platforms such as Solana, Cardano, and Avalanche have drawn users and developers away from saturating Ethereum’s market. This volumetric increase of alternatives necessitates the continued advancement of Ethereum to keep pace with the market. Regulatory risks bring in more uncertainty. Ethereum’s core in DeFi and NFTs can attract authorities if and when they seek ever-increasing regulation of these industries. Given the scale and dependence on the DeFi…
Filed under: News - @ November 10, 2024 4:15 pm