Ethereum Alternatives Threaten to Take Over the Crypto Market

Fact-checked
Table of Contents

Recently, Ethereum alternatives, such as Solana and Polygon, have taken over the headlines, rising in popularity as they are cheaper and faster, NASDAQ reports. So, will these “Ethereum killers” completely take over Ethereum? 

Ethereum and Bitcoin are a driving force in the crypto market, but it seems as if new alternatives are beginning to take over. Avalanche, Fantom, and Terra are expected to deliver massive gains. Avalanche, the greatest Ethereum rival, serves as a platform for decentralized applications and blockchain networks. Also, it makes use of a new technology called directed acyclic graphs (DAGs). Avalanche went up 0.40% in the last 24 hours, with a current price of $89.64. Fantom is similar to Avalanche but has a smaller circulation supply, and the decentralized transactions happen in less than two seconds with this coin. 

Will Metaverse Tokens Take Over Ethereum?

Metaverse and the coins used for digital transactions within it seem to be taking over Bitcoin’s and Ethereum’s territory. NFT games are rapidly expanding. Additionally, there are virtual concerts, art, and fashion. This quickly growing virtual universe, the metaverse, could take the focus off of Ethereum for a while. 

But, no matter what happens with the metaverse tokens and metaverse in general, Ethereum is still likely to move forward. It still remains the second-largest cryptocurrency on the crypto market. Ethereum’s popularity has resulted in numerous transactions and even Ethereum casinos. The new upgrade, Ethereum 2.0, is expected to make 100,000 transactions per second in two years. Oanda analyst Ed Moya expects great things for this particular cryptocurrency. According to his estimate, an Ethereum ETF will be hitting the market soon. The expert says: “Ethereum is up 500% this year and I think $9,000 to $10,000 is very attainable in the next two to three years.”

ABOUT AUTHOR

Reading and writing have always been my way to get a hold of the world, especially when it comes to news. When I'm not writing, reading books, traveling, and going on long walks with my dog are the things I do to recharge my batteries.

Latest from Dimitra

Leave a Reply

Your email address will not be published. Required fields are marked *