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XRP Surpassed by XLM, Bitcoin (BTC) Flat and Listing Pumps: Main Trends in Crypto Identified by Three Arrows Capital CEO

News
Wed, 06/10/2020 - 13:53
Vladislav Sopov
Su Zhu, founder of the Singapore-based Three Arrows Capital asset management firm, identified the main trends of the past 30 days according to Coingecko analytical tools
XRP Surpassed by XLM, Bitcoin (BTC) Flat and Listing Pumps: Main Trends in Crypto Identified by Three Arrows Capital CEO
Cover image via stock.adobe.com
Contents

Su Zhu, founder and CEO of Three Arrows Capital and the author of Deribit Insights blockchain analytical reports has mentioned six of the most significant characteristics of the past 30 days of cryptocurrency market behavior.

Bitcoin is (BTC) flat, altcoins are pumping

The first trend mentioned by Mr. Zhu was the very pale performance of the flagship cryptocurrency. Amid unprecedented hopes, Bitcoin (BTC) has managed to gain only 1% since the early days of May 2020.

Su Zhu on Coingecko reports
Image via Twitter

On the contrary, the most impressive upmoves were demonstrated by the high-tech altcoins Cardano (ADA) and Zilliqa (ZIL). The Cardano network is inching closer to Shelley mainnet. Yesterday, on June 9, 2020, it started to on-board stake pool operators for the Open Testnet.

The Zilliqa (ZIL) sharded network also achieved significant technical and promotional milestones and has been mentioned by top analysts as one of the most prospective altcoins.

Also, Mr. Zhu noticed that both of the top recognized Bitcoin (BTC) forks – Bitcoin Cash (BCH) and Bitcoin SV – (BSV) have been underperforming with 5% losses each.

XLM outperforms XRP

Stellar Lumens (XLM) has printed a 9% upsurge while its rival XRP is 6% down. On the seven-day timeframe,  XLM surged 3% and the XRP price fell 3%.

Another prominent reason altcoins have been pumping is vocal listing announcements. As revealed by Su Zhu, getting listed on the Coinbase crypto-to-fiat exchange has led to OMG Network (OMG), OmiseGo and Maker (MKR) rallies.

However, technological advancements could also explain the improved performance of these two altcoins. For instance, OMG Network on-boarded every USDT transaction from Bitfinex while MKR is the most important element of the DeFi ecosystem that is seeing a rebirth in Q2, 2020. 

All in all, the last 30 days were ‘green’ for crypto markets. The average upsurge for large-cap coins is about 10%.

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
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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.)