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Ethereum has regained its cryptocurrency status with the second largest market capitalization, surpassing Ripple after six weeks of third position.
After a 12% rally, the market capitalization of Ethereum is now $ 15.8 billion. The ripple, despite a 3% rise on Wednesday, has a market capitalization of only $ 14.9 billion.
Ripple (XRP) passed Ethereum in mid-November, an event celebrated by the XRP community, many of whom believed that it would soon rival Bitcoin for first place.
The Ethereum rally is due to the anticipation of a series of imminent hard forks. Ethereum Classic Vision will be forwarded to Ethereum holders in a 3: 1 ratio on January 11th. The Ethereum Nowa fork, meanwhile, is scheduled for January 12th.
Both events are leading to the update of Ethereum in Constantinople on January 16, which according to the developers "will introduce a new wave of distributed ledger technologies".
The updating of Constantinople will make Ethereum faster and cheaper. The ultimate goal is to follow Vitalik Buterin's vision and switch from a Proof-of-Work protocol to a Proof-of-Stake protocol.
After scoring a minimum in December, when the price of Ethereum hit an annual minimum of $ 83, the cryptocurrency has recovered over 70%, making it one of the most performing digital assets in space in the last month.
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