Ethereum Rides New Rally, Overpowers Bitcoin As Well

Prominent gains are apparent for Ethereum as the world’s second most popular cryptocurrency after Bitcoin rides a freshly boosted crypto rally. Overpowers the entire digital currency economy and leaves behind Bitcoin as well. Today Ethereum managed to break all past records as its value moves on to the average value of US$ 2,736. In the past seven days, the asset accumulated a surge of at least 11.48%.

The past week wasn’t good at all for the entire crypto-economy as Bitcoin, as well as other crypto assets’ rally, fell apart. However, there was one exception, which exception was relating to the second most popular crypto asset of the world i.e. Ethereum. A day ago Ethereum accumulated an increase of approximately 11% and the value was recorded as US$ 2,706. But as of today, the overall value of Ethereum has surged by a further 0.48%.

Ethereum successfully broke a day-old record and moved on in the price range of US$2,736 currently making it Ethereum’s another all-time high.

If compared with the leading coin i.e. Bitcoin, Ethereum is currently dominating the world’s first digital currency. While Bitcoin failed to accumulate any price increase but instead Bitcoin lost a great deal of momentum. In fact, according to the Bitcoin index, the value of the coin has dropped immensely up to 49.2%. In contrast with Bitcoin, Ethereum’s price increased 10% against the world’s highly valued cryptocurrency. On the indexing chart, there is also positivity towards Ethereum as the asset has successfully captured gains at an average of 15%.

Once again Ethereum has shown that it has the potential of leaving behind the world’s strongest fiat currency i.e. US Dollar. Against US Dollar too, Ethereum easily tapped about 48.3% as of today. However, in the past 90 days, Ethereum is up by 102% against US Dollar. Similarly, in the past 90 days, the underlying value of Ehtereum is up by more than 22% in contrast with Bitcoin.

In the recent past i.e. on 15th April 2021, a new upgrade called “Berlin” has been incorporated into Ethereum’s network. Soon after the application of the upgrade, users of Ethereum took note that in the global market, gas prices had decreased significantly. Resultantly, a boost was witnessed in the Decentralized Finance (DeFi) sector, which is one of the most popular Ethereum products these days.

With regard to daily trade volume, again Ethereum managed to take a lead from Bitcoin. It was noted that a day ago Bitcoin’s total trade volume for 27th April 2021 was only US$ 75.1 Billion. While the daily trade volume for Ethereum was to the extent of US$ 23.57 which is relatively very high against the likes of Bitcoin. In addition, the number of transactions for Ethereum was found to be higher than the Bitcoin.