After several weeks of falling back to #3 on market cap, Ethereum has successfully retaken its spot at #2. This comes after Ripple, a centralized cryptocurrency, briefly rose to the second spot.
As of January 8th, Ripple has dropped a staggering -27.58% in less than 24 hours. Ethereum has only dropped -3.44%. This news comes after Ethereum had a gigantic bull run, soaring from $1,000 to over $1,200 in as little as two days.
The current market cap for Ethereum is 105 Billion USD.
Bitcoin has also had an exciting 24 hours, dropping more than 10.00% in one day. This combination has many hoping for “the flippening”, or the point at which Ethereum’s market cap will overtake Bitcoin. This would involve Ethereum’s market cap exceeding 247 Billion, assuming Bitcoin’s doesn’t fall or grow.
This news has excited many people within the Ethereum community, who feel as if they deserve the spot. With an exciting beginning of January, the news has been largely positive. With bull run after bull run, Ethereum has had a wild week. Rising over 30% at the time of writing this.
With the wind blowing in the right direction, the future seems positive. The overall vibe has been great, as we wait to see what Ethereum will do next.