For a long time, people debated whether Ethereum would one day overtake Bitcoin and become the largest cryptocurrency by market capitalization. The tables have turned on Ethereum now, with Bitcoin Cash overtaking Ethereum to become the #2 cryptocurrency.
Phenomenal run results in flippening
Bitcoin Cash had a phenomenal run during the weekend, with its price increasing from $660 on Friday to a peak of $2,446 on Sunday. The price has almost quadrupled in a matter of two days. While the price seems to have been driven by Korean exchanges, other global exchanges have reported healthy gains too.
At the time of reporting the price had corrected, but still bore a healthy gain. The overall market capitalization of Bitcoin Cash after the correction is still ~$31 bln, which is more than the market capitalization of Ethereum. While people had always thought of Ethereum as the major challenger to Bitcoin, it now appears that Bitcoin Cash has taken Ethereum’s place.
Vitalik Buterin tweeted his congratulations […]
Read Full: Move Over Ethereum, Bitcoin Cash #2