Ethereum Surpasses Bitcoin in Performance
Bitcoin is growing, but ethereum is outpacing it, with bitcoin up 0.56 percent today and ethereum up 2.27 percent.
This Monday, bitcoin had a pretty green day, rising 4%, while eth had an even greener day, gaining 6%.
Ethereum looks to be outperforming not just bitcoin, but also other cryptocurrency tokens. Mana had a good fashion week and gained roughly 5%, but eth gained more.
We can see some of it in the ratio, which has been rising for the better part of this month to 0.072 btc per eth, up over 28 percent in the last two days.
That’s while Do Kwon continues to acquire billions of dollars’ worth of bitcoin, and MacroStrategy has added another $200 million to its holdings. Yet eth somehow increases in value.
ConsenSys was purchasing $450 million worth of eth, so there are significant changes here as well, although it may well be mostly due to the burning beginning to bite with the merger approaching.
Over 2 million eth have been destroyed so far, with 7,400 worth $25 million being torched today.
That is a massive sum right now, but when the merger occurs at current levels, around $20 million eth will be removed from circulation.
