The world of cryptocurrency and crypto trading is expanding. There was a time when the only significant option available to the investors was bitcoin. It was the only currency about which they had enough information to invest on. It was also the most famous one, which helped them in choosing it for their future investments. However, this is not the case anymore. There are a lot of other currencies as well that are now competing with Bitcoin. And lately, a lot of Bitcoin scams is going on the internet.
Ether has become one of the biggest competitors of bitcoins in today’s time. Its value has increased manifold and is now the second-largest digital currency. Dogecoin that didn’t have any value when it was started now has a worth somewhere around 90$ billion.
Alongside this, CoinGecko and Pancakeswap also have had quite a lot of fans who have invested in them. However, those who are just starting out prefer to choose with Bitcoin or Ether. As they both are on the top of their game and have showcased a good amount of return in the past year, the trust of the investor in them has enhanced. Where Bitcoin got doubled in its value, Ether ended up being quadrupled.
What Makes Ether So Special?
Just like Bitcoin, ethernet is also backed by blockchain. This fact makes it one of the most secure cryptocurrencies to put your bets on. Blockchain technology not only verifies all the transactions happening across the glove on the ether platform but also keeps a track of them all. For a lot of people,
Ether is even better than bitcoin as unlike the latter, its features are developing with every passing time. When it comes to bitcoin, it is a known fact that the core features of this cryptocurrency are baked in a design. Features like supply cap are well established and won’t change.
The Struggle To Get Better
Ether continues to strive and get better. It is constantly trying to upgrade all its features to make it much more understandable for the new investors. With this development, it is also getting limited in its availability. It is placing some limits on the number of ethers that can be made available for an investor at a particular period of time.
Hence, this would work great towards helping it achieve a great appeal amongst the potential investors. By changing the supply rate, the company is boosting its demand.
The Down Gradation Of Bitcoin
Bitcoin has seen a serious downfall in the last year. Even though it is still the biggest cryptocurrency out there, it definitely doesn’t enjoy the kind of fame and trust it had once. The total market share of bitcoin in the crypto market is around 46%. It is the highest one amongst all the currencies.
However, at the start of the year, it had a share of around 70%. According to CoinGecko, a tracker of crypto progress, it is the biggest fall it has seen over the past few years. However, it still has a lot of loyal buyers who place their trust in it.
Bitcoin; Still A Star
Though Ethereum is being considered as the new IT thing, it still is way behind Bitcoin. By the end of November 2021, its value was 400$ billion while the value of Bitcoin was recorded to be around 1$ trillion. Another fact that doesn’t let its value fall is the trust of the biggest corporations out there on Bitcoin. Industries like MicroStrategy and Tesla still trust it as being a potential crypto investment even for the future. They are, at the same time, the biggest buyers of crypto.
The market of cryptocurrencies is volatile. Anything can happen in it at any point in time. The investors need to stay comfortable with the sudden swings, which may give them a huge profit or may take all their savings away from them. The future is definitely unpredictable. You never know; maybe Ethereum would become the best big thing in the coming years and no one would ever give a second thought to place his bets on bitcoin? Or, it may go another way around as well!