Factors Behind the Better Performance of Ethereum Than Bitcoin

The Cryptocurrency market has recovered more than 9% over the past weeks. This has raised the overall Capitalization to beyond $1 trillion once more.

Meanwhile, some crypto has been doing well than others and Ethereum has been performing better than Bitcoin during the past week. Ethereum has moved up by 17% to its present price now. On the contrary, BTC has only moved just 6% upwards over the same space of time.

Lowered Selling Forces
Before the merge, miners of ETH sold off their assets to pay for their experiences, likewise miners of BTC too. However ever since Ethereum migrated to POS (Proof-of-Stake) in September, there has been a significant reduction in selling pressure.

Also, another area of Ethereum’s pull is its lowered issuance. A report revealed that Ethereum issuance reduced by 14,000 Ethereum coins in a day and nearly 5 million lesser in a year. Additionally, the Ethereum merge lowered the crypto’s power usage by 99%, and this has made the crypto to be more attractive to Environmental Conscious Cooperate institutions.

The information provided by Digieconomist ETH power usage index, the power usage reduced from nearly 84 TW/h per year before the Merge to 0.01 TW/h now.

Consequently, these three factors has give Ethereum a more promising prospect, which has shown in its market performance of late against Bitcoin.

Learn from market wizards: Books to take your trading to the next level

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  Lawrence Gash

• 

  Angelina Jennifer

• 

  Kenneth G. Mondero

• 

  Graham Neary