Whenever there is a mention of cryptocurrencies, the first names that may come to every crypto-community member’s mind are Bitcoin and Ethereum. This is mainly because the couple is the most prominent and largest ones in the entire crypto-sector.
At present, Bitcoin (BTC) has a market capitalization that is worth $1,083,323,640,097, while Ethereum’s (ETH) market capitalization is $556,381,486,026. With BTC’s crypto-dominance at 40.8555% and Ethereum’s crypto-dominance at 20.9833%, their combined dominance is over 60%.
This goes to show how enormous the couple is and they are constantly growing larger. With their market presence in mind, it is not rare for the investors to run a comparison between the two. While the Bitcoin proponents continue supporting and boosting its growth, it should be the Ethereum supporters boasting about it.
This is mainly because of the performance that Ethereum has demonstrated compared to Bitcoin since the start of 2021. When it comes to the investors’ community within the crypto-sector, over 70% of the investors are novices.
They have joined the cryptocurrency sector only because they were following the price of Bitcoin and were mesmerized by it. They saw how Bitcoin grew in size and went all the way up from $29,087.37k per BTC from January to $68.5k per BTC in November. Since then, Bitcoin’s price has dived below the $60k per BTC benchmark and it is currently trading at a price of $58,578.13 per BTC.
The data from CoinMarketCap shows that after all the highs and lows, the overall growth of BTC from YTD has been 95.26%. As for the past 30-days, Bitcoin has experienced a 7.32% drop in price. Followed by the past 30-days performance is the past 7-day performance that shows 3.06% growth, while past 24-hour performance is 0.79% negative.
On the other hand, the CoinMarketCap performance chart for Ethereum shows that since the beginning of 2021 till date, it has grown by 542.51%. While Bitcoin has faced dips, Ethereum’s performance graph by TradingView is in the upward direction.
Even the past 30-days, 7-days, and 24-hours performance for Ethereum are in positives that are 7.74%, 10.95%, and 0.68% respectively. It is currently trading at a price of $4,695.35 per ETH, which is just 3.4% less than the all-time high it hit back on November 10, 2021.
This simply means that if an investor invested $1 in both cryptocurrencies, he would have made a profit worth $94 on BTC and $542 on Ethereum.
Even the relative strength index (RSI) for Ethereum is going in favor of its high-trend. On the other hand, Bitcoin’s RSI is not so much in favor of its original growth. This means that ETH’s market may be more profitable for investors than the BTC one.