More and more mainstream investors and companies now accept cryptocurrencies like Bitcoin. Of all cryptocurrencies, Bitcoin is the most valuable and popular, while Ether is the second most valuable and popular after Bitcoin.
Goldman sachs believes that ethereum is likely to replace Bitcoin as the dominant cryptocurrency given a number of factors, including its true usage, user base and speed of technology iteration. Currently, most decentralized finance (DeFi) applications are built on the Ethereum network, and most irreplaceable tokens (NFT) are also purchased using Ethereum.
Bitcoin has fallen nearly 50% since hitting an all-time high of nearly $65,000 in April. Meanwhile, the price of Ether has plunged 50% since soaring to an all-time high of $4,400 in mid-May 2021. Currently, Ether is trading at $2,654.96, with a market cap of about $308.126 billion. Over the past 24 hours, ether has traded as high as $2,753.11 and as low as $2,168.01.