{"id":14880,"date":"2021-12-01T15:54:03","date_gmt":"2021-12-01T15:54:03","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/ethereum-market-cap-is-less-than-50-away-from-flipping-bitcoin-eth-nears-all-time-price-high\/"},"modified":"2021-12-01T15:54:03","modified_gmt":"2021-12-01T15:54:03","slug":"ethereum-market-cap-is-less-than-50-away-from-flipping-bitcoin-eth-nears-all-time-price-high","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/ethereum-market-cap-is-less-than-50-away-from-flipping-bitcoin-eth-nears-all-time-price-high\/","title":{"rendered":"Ethereum Market Cap Is Less Than 50% Away From Flipping Bitcoin \u2014 ETH Nears All-Time Price High"},"content":{"rendered":"

The second-largest cryptocurrency in terms of market capitalization, ethereum, has come awfully close to reaching the digital asset\u2019s all-time high ($4,878) it reached 21 days ago on November 10. While bitcoin dominance has slid below the 40% zone, ethereum\u2019s market dominance, or $557 billion market valuation, represents close to 20% of the crypto economy.<\/strong><\/p>\n

Ethereum\u2019s Price Trajectory Nears All-Time High \u2014 Ether Market Dominance Increases<\/h2>\n

During the last two weeks, ethereum (ETH)<\/a> has increased 10.8% in fiat value and year-to-date (YTD), ETH<\/a> is up 668%. The YTD ether gains are much larger than bitcoin\u2019s (BTC<\/a>) 190% 12-month increase. At the time of writing, there is $31 billion in global ETH<\/a> trade volume and ethereum has a market capitalization of around $557 billion. While BTC<\/a> commands a 38.7% dominance rating, 19.9% belongs to ethereum, and the remainder is held by the 11,289 crypto assets in existence today.<\/p>\n

The top trading pair with ethereum is the stablecoin tether (USDT<\/a>) as it commands 44.6% of all ether swaps. This is followed by USD (21.33%), BTC<\/a> (9.69%), BUSD (8.37%), EUR (4.18%), KRW (2.56%), and JPY (1.69%). Over the last 24 hours of ETH<\/a> trading, Binance has been the most active trading platform followed by Coinbase, Gemini, Kraken, Bitstamp, Luno, and Bitfinex. Onchain metrics from Into the Block crypto analytics<\/a> indicate that holders making money at current ETH<\/a> prices is around 99% today.<\/p>\n

Statistics show that concentration by large ethereum holders is 42% in contrast to the 11% concentration by large bitcoin holders. 59% of ETH<\/a> holders have held for a year or more while 32% have held for a month to 12 months. Only 9% of ETH<\/a> holders today have held for less than a month according to onchain metrics. During the last seven days, there was $74.75 billion worth of ether transactions greater than $100K.<\/p>\n

The aggregate of ether transaction demographics shows 51% stemmed from the Western Hemisphere, while 49% derived from the East. There are seven ETH<\/a> whales with 21.19% of the circulating supply or 24.89 million ether according to Into the Block stats. Just over 20% of the ether supply is held by institutional investors and 57.89% or 68 million ether belongs to retail investors.<\/p>\n

Ethereum Market Cap Commands 50.9% of Bitcoin\u2019s Overall Market Valuation<\/h2>\n

Total exchange inflow last week was $8.22 billion while exchange outflow was $8.86 billion in ether. Ethereum saw a 13.45% increase in new addresses this past week and a 9.95% increase in active addresses.<\/p>\n

Since March 2016, Ethereum\u2019s hashrate<\/a> has increased from 1.5 terahash (TH\/s) to 956.25 TH\/s at the time of writing. ETH<\/a>\u2019s hashrate has increased, following the rise in price, by a whopping 63,233% since 2016. Ethereum\u2019s hashrate has never been higher, and at 956.25 TH\/s or 0.957 petahash per second (PH\/s), it\u2019s awfully close to 1 PH\/s.<\/p>\n

Currently, ethereum (ETH)<\/a> is only 3.8% lower than the crypto asset\u2019s ATH which was $4,878 per unit on November 10. Ethereum\u2019s 24-hour block rewards have surpassed Bitcoin\u2019s (BTC<\/a>) daily rewards by more than 124%. According to statistics from The Flippening Watch<\/a>, ethereum commands 50.9% of BTC<\/a>\u2019s current market cap and captures 80% of the trade volume BTC<\/a> has seen today.<\/p>\n

What do you think about ethereum\u2019s recent market and network performance during the last week? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nMarket Updates, 50.9%, All time high, ATH, Bitcoin (BTC), BTC, Dominance, ETH ATH, ETH Price, Ether all-time high, ether price, Ethereum, Ethereum (ETH), Ethereum ATH, Flippening, Flippening Watch, Flipping, Into the Block, Market Cap, Market Update, Market Valuation, Markets, markets and prices, Price High, Prices<\/p>\n","protected":false},"excerpt":{"rendered":"

The second-largest cryptocurrency in terms of market capitalization, ethereum, has come awfully close to reaching the digital asset\u2019s all-time high ($4,878) it reached 21 days ago on November 10. While bitcoin dominance has slid below the 40% zone, ethereum\u2019s market dominance, or $557 billion market valuation, represents close to 20% of the crypto economy. Ethereum\u2019s…<\/p>\n","protected":false},"author":0,"featured_media":14881,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14880"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14880"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14880\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14881"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}