According to a chart presented by CoinMarketCap, bitcoin currently accounts for nearly 39 percent of the combined market capitalization for all cryptocurrencies, though that figure is down sharply from late February’s 87 percent.
READ MORE: Bitcoin helps marijuana growers sidestep banking issue #Bitcoin rival #Ethereum hits record high of $250.41 rallying almost 3,000% since January 1, 2017 https://t.co/720wXk4WMJ In the event ethereum’s market value overtakes bitcoin’s, experts expect a shift in market forces called “The Flippening” to occur, after which ethereum may become the biggest, most valuable, and most important cryptocurrency.
According to data from CoinDesk, the current market cap of bitcoin is slightly above $40 billion, with the price swinging around $2,400, while ethereum’s market cap is over $29 billion, with a price of around $315 per coin.
Some experts say ethereum is definitely set to overtake its rival.
The young cryptocurrency “has almost five times as many nodes in its network as bitcoin, meaning more people are using their computers to support it,” according to the Motherboard.vice.com news outlet.