ETH global crypto market share is building as POS is approaching is near
Hello lovely people of Hive community. Hopefully you will be enjoying your life with good health and spirit. Undoubtedly, crypto market is one of the most volatile market of the world where pump and dump is part and parcel of the market. There was a time when global crypto market cap was about to touch $3 Trillion and now it is struggling to achieve $1 Trillion. At the time of writing global crypto market cap is around $953 Billion. Almost, 2.5% dip observed in last 24 hours.
Top two coins BTC and ETH have a market share of 58.4% of overall market cap. Interestingly share of ETH is increasing. Eth alone has now a market share of 20.2% of the total global crypto market cap.
At the moment ETH market cap is $192.45 Billion and BTC is still ahead with a market cap of $363.67 Billion. The difference is not far. Maybe conversion from Prof of work to Prof of stake will help ETH to grow more.
It is too early to predict how Proof of stake will work for Eth. Still a week left in switching from Proof of work to Proof of stake. Who know's it may delay again, but this is only rumour and there is no need to believe in rumours.
Proof of stake will definitely help to cut down the high gas prices which majority of us are fed up. On the other hand, shifting towards proof of stake and introducing hardfork will bring airdrop. People will love to collect free money.
Despite increasing market share, ETH also observed dip today. Second placed coin observed 0.38% dip in last 24 hours. Dip number is much smaller than BTC which observed 3.73% dip.
Let's see the outcome of ETH shifting from POW to POS. Hope for the best.
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
Posted Using LeoFinance Beta
I'm hoping to see how the ETH upgrade turns out, most still have mixed feelings as to what comes next for ETH after this move. The Community would be more than happy if POS is able to reduce gas fees as we imagined. All the best for ETH in overtaking btc in the near future which is very possible soon
Posted using LeoFinance Mobile
Perhaps people are shifting from BTC to Ethrium. That's why its market cap is increasing. May I know how the proof of stake would reduce gas fee? Would it be for Ethrium or BTC or both?
Tinkering with Ethereum is no trifling matter. Yet the network’s developers aren’t just about to tinker, they’re on the cusp of overhauling the core plumbing and mechanics of Ethereum in an upgrade that enthusiasts call The Merge.
Posted Using LeoFinance Beta
Let see how the change from proof of work to proof of stack will help?
Do you think people are losing trust in BTC
Hi
I guess the dip and the quiet before the merge is only for a while and maybe the bulls are getting ready to take charge.