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Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

News
Tue, 06/16/2020 - 13:54
Vladislav Sopov
In its State of The Network 55, the Coinmetrics industry-level analytical team studies how different crypto assets have recovered from Black Thursday
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Cover image via U.Today
Contents

On March 12, 2020, the crypto segment experienced one of its bloodiest collapses. Nate Maddrey of the Coinmetics team unveiled a list of assets that managed to recover in three months.

Few recovered, Crypto.com (CRO) is a champion

Mr. Maddrey compared the price and market capitalization of Bitcoin (BTC) and the top altcoins on February 14, 2020, which was the peak of the recent cryptocurrency rally, with the same data for June 14, 2020.

Few assets recovered from March 12th
Image by Coinmetrics

As a result, it was unveiled that both Bitcoin (BTC) and Ethereum (ETH) demonstrated brilliant performance and have almost recovered from the tragedy of March 12th. However, they have failed to erase all losses.

The most significant gains among the top altcoins have been demonstrated by the Crypto.com coin (CRO). At press time it is changing hands at $0.11 on major spot exchanges, or 60% up since Bloody March.

Cardano (ADA), Unus Sed Leo (LEO), ZRX and the OMG Network Token (OMG) are also outperforming their pre-crash price positions.

Technology and listings are the most influential catalysts

It looks like two main drivers are behind the solid growth of altcoins from the Coinmetrics top. Vocal listing announcements and achieving important technological milestones contributed to this recovery.

E.g. Cardano (ADA) is inching closer to the mainnet launch of its fully decentralized phase, Shelley. Recently, the Friends and Family Testnet Stage was replaced by the Open Public Testnet.

OMG Network Token (OMG) pumped on the announcement of the migration of all USDT transactions on Bitfinex to the Plasma infrastructure built by OMG.

The OMG Network token also rallied after getting listed on Coinbase Pro. Also, the Crypto.com Coin (CRO) was listed by the popular decentralized cross-chain instrument, TronWallet.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)