The co-founders of Glassnode say in a recent analysis that an altcoin project that could surpass Bitcoin as the latest trend in the cryptocurrency market will attract capital from blue-chip investors.
This altcoin “new standard”
According to data obtained by Glassnode, Bitcoin (BTC), the largest cryptocurrency by market capitalization, has been displaced as the strongest measure of the crypto industry’s progress. Jan Happel and Yann Allemann, co-founders of analytics firm, say in a recent analysis that the dominant smart contract platform Ethereum (ETH) appears to be the new standard for the crypto market:
Bitcoin, Ethereum and the top 20 coins traded by 2021 When analyzing the performance of the currency unit, we can see that Bitcoin has lost its position as the main driving force driving the crypto market.
Additionally, the co-founders believe that if ETH moves to a PoS Blockchain later this year, it will be more attractive to blue-chip investors:
Kiln testnet Ethereum has come to the fore again as news of a successful merger in . If successful, this transformation will make Ethereum significantly more attractive to institutional investors with ESG (environmental, social and governance) goals and will result in a massive reduction in supply as ETH becomes a deflationary crypto.
According to the Ethereum Foundation, ETH could be Kiln’s last public testnet before migrating to a PoS system. In late March, Happel and Allemann told their 52,100 Twitter followers that “in terms of fees,” ETH appeared to be stronger than Bitcoin.
Ethereum is trading at $3,249.13 at the time of writing. As we reported as Kriptokoin.com, the inflation statements made by Fed board member Lael Brainard in the past hours are 5% in Ethereum (ETH), 7.89% in Cardano (ADA), Shiba Inu (SHIB) 8.12% and Dogecoin ( DOGE) led to significant retracements, 7.06%. Ahead of the Fed meeting this evening at 9 PM, the price of Bitcoin (BTC) fell below the $44,000 zone, which is considered a critical support.
29309
