The Two Big Themes in the Crypto Market Right Now
It’s Bitcoin vs ETH. And ETH vs the ETH Killers.
For all the hype about Bitcoin these days, its momentum has actually quieted down a little bit lately. After almost hitting $65,000 in the wake of the Coinbase IPO, it’s dipped a bit. And currently it’s still below even its February levels.
Meanwhile, as Joanna Ossinger points out in a piece today, Ethereum (ETH) has been on a tear, consistently making new highs. In addition to gaining in price, ETH is clearly gaining mindshare as well. Last week, Jens Nordvig of Exante Data joked that the most interesting thing in the market was, in fact, this outperformance. JPM strategist Josh Younger put out a note pointing to ETH’s impressive price resiliency. It’s clearly the coin of the moment, capturing a lot of attention.