Ethereum with new all-time high – Bitcoin dominance continues to crumble

After yesterday’s correction, the crypto market is recovering. In the meantime, Ethereum has once again reported a new record high.

After the crypto market underwent a correction yesterday, most coins can now break free from their bearish shackles, such as Bitcoin. While the BTC price slipped below the 55,000 mark on the last trading day, the crypto reserve currency was able to gain almost 4 percent today. At press time, the BTC price stands at $ 57,221. In a monthly comparison, the sideways trend continues.


Ethereum overtakes Samsung, Visa, and JPMorgan

While Bitcoin continues to align its compass, Ethereum maintains its northward course. Only a few moments ago, the cryptocurrency reached a new all-time high at 4,360.43 US dollars. At press time, ETH is trading at $ 4,324. A plus of almost 10 percent in a 24-hour comparison. In a weekly comparison, ETH even increased by almost 33 percent.

With this, Ethereum can continue its incredible rally. Since last month, the second most valuable crypto currency has repeatedly reported new record prices, the last report was only two days ago. With the current ATH, according to the Infinite Market Cap, Ethereum is worth more than Samsung, Visa and JPMorgan in terms of market capitalization. This means that ETH can now move up to 16th place among the most valuable assets in the world.

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This bull run in combination with the good performance of the altcoin sector ensures that Bitcoin’s supremacy continues to decline. If the BTC share of the total market capitalization of all cryptocurrencies was over 70 percent in January, this dominance is loud TradingView fell by almost 30 percent in the following months. At the time of going to press, the BTC market dominance is 44 percent.

Bitcoin dominance, according to TradingView.com

Internet computer course is halved

While Ethereum is celebrating new records, the “Internet Computer” (ICP) has to accept its first setbacks. After the DFINITY project was made tradable on Coinbase on May 10, ICP made it into the top 10 ranking of the most valuable cryptocurrencies by market capitalization with an entry price of over 730 US dollars. After two days of trading, this value has now more than halved. At the time of going to press, the ICP rate was $ 345, a drop of a little more than 24 percent in a 24-hour comparison.

The blockchain protocol is preparing to reform the internet. The Internet is currently a conglomerate of technically standardized protocols such as the Internet Protocol (TCP / IP). These protocols are responsible for forwarding data packets and thus ensuring the connection between the various Internet users. Similar to crypto-protocols, the internet also has different layers. In order to provide Internet services, one must build applications that are compatible with these protocols. According to DFINITY founder Dominic Williams, however, there are major hurdles for developers on the Internet, as a significant part of the base layers is under the control of monopolists such as Amazon.

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