The XRP tokens have recently been removed from several websites and their transactions have been banned till the lawsuit is settled. This has paved the way for Ethereum to steer clear of its major rival.
Ethereum is the second biggest cryptocurrency owing to its market capitalization. ETH price has successfully managed to reach $1,005 today in the stock market. This closed the curtains to the twists happening this weekend.
Ethereum Is Racing Towards A New All-Time High
Ethereum has added some hundred dollars to their existing price over this weekend. Coinbase had registered a slight decline from $1,000 for a little time at around 23:38UTC.
We have been witnessing the vultures and proselytizers hovering over Bitcoin since Christmas that has resulted in their breaking through a whopping $30,000 recently. On the other hand, ETH has also been performing extremely well since January 2018 when they had touched a $1,432 high. That was the last time that ETH reached a 4 figure price.
This recent success of Ethereum along with the other cryptocurrencies is partly due to the bull run of Bitcoin. Altcoins frequently track BTC price since it has an exponential dominance over the stock market.
Traders are trying to find the next best after BTC. With the recent success of ETH, it might be the one to bring in a new ‘altseason’. On 2nd January, Dogecoin has increased by 70% while VeChain surged more than 20%. Maker and Litecoin have also upswing by almost 10%.
Meanwhile, XRP, the previously considered 3rd largest cryptocurrency, has experienced a massive decline in its price. This is following the lawsuit filed by the SEC last month. At present, they have been pushed to the 4th position and are competing against Litecoin.
Bitcoin has witnessed the biggest increase in its price with a $4,000 raise within this very weekend.
