Bitcoin and Ethereum combined have more than 60% share of crypto market cap.

Bitcoin and Crypto Market Watch Wednesday, May 11, 2022 - 19:33

In this new series, we compare some key crypto assets and how they have fared recently. We also analyze what’s ahead for the coins in the immediate future. Today, we aim to compare Bitcoin (BTC) and Ethereum (ETH), the top 2 crypto assets.

Bitcoin (BTC)

Bitcoin is the beacon of the crypto world. It is decentralized and anyone can create a free Bitcoin wallet. Bitcoin is divisible up to 8 decimal places with a total supply of 21 million BTC. Bitcoin transactions are processed through a ‘Proof-of-Work’ distributed consensus system.

Bitcoin is the largest cryptocurrency in the world, with a market capitalization of $560 billion and a 43% market share. 

Ethereum (ETH)

Ethereum is the second largest cryptocurrency after BTC, with a market capitalization of $270 billion. On its blockchain, Ethereum has the most decentralized apps (dApps). Post the development of the ERC-721 token standard, Ethereum has also become the de facto home of NFTs.

Ethereum is intended to be highly scalable, programmable, secure, and decentralized. It is a programmable blockchain for developers who are using it to build technology that is expected to change the way many industries operate. Ethereum currently employs the Proof-of-Work protocol like Bitcoin but is transitioning to a PoS (Proof of Stake) consensus model with the introduction of Ethereum 2.0. The move is expected to significantly improve Ethereum's scalability, environment sustainability and transaction security.

Ethereum’s total supply is not fixed. It currently contributes 20% share to the market.

ETH has outperformed BTC recently

Source: TradingView, Binance

Both BTC and ETH are down by more than 50% from their all-time highs achieved in late 2021 though they continue to perform well when compared to the rest of the crypto market. Meanwhile, ETH is outperforming BTC since the May 2021 crash and is up 30% from July last year. This is likely to change as crypto goes into a period of decline with Bitcoin dominating share of new investments till confidence comes back into the market.

We advise investors to invest in Bitcoin for the upcoming few weeks and then shift some share to Ethereum once market regains its momentum.

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DisclaimerThis article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.

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