By Larry Wright
Given the recent pow-wow of the crypto market, it has become rather evident that Ether is taking the lead on all fronts, and the flagship cryptocurrency that is Bitcoin, is in ruins.
Bitcoin keeps struggling its best when it comes to keeping up with the present resistance level and all but fails miserably during the action, only to return to its best possible price point that it was hovering around during the prospect of being committed to its resistance level.
Ether Takes the Spotlight
Due to the negligence that is being thrown in the direction of Bitcoin and all and how stagnant it is, the flagship cryptocurrency, it seems that Ether has taken the spotlight for good.
From a market capitalization point of view, Bitcoin remains the dominant cryptocurrency as it has the highest market cap as compared to the rest of the crypto entities out there, but Ether is not far behind and given the prospect that it is going to implement Merge update in the next coming days it is possible for the scales to shift in favor of Ether rather than Bitcoin.
According to a report, it was made evident that 70K new and unique addresses have been added onto the blockchain of Ether which suggests high buying activity before the Merge update could even go live on the Ether blockchain, which only points toward one thing and that is a bullish approach covering the Ether crypto for good.
It doesn’t mean that Bitcoin will be knocked out of the park or something like that, but it does mean that Ether is going to have the upper hand taking the attention of the crypto market enthusiasts and the crypto investors.
Bitcoin, on the other hand, has got no new updates that it is thinking about implementing, thus making the network a bit stagnant, to say the least, and the proof of work consensus is not going to work too long in favor of Bitcoin since the technology is becoming grievingly old. So, yes, it does give Bitcoin an upper hand.