According to data presented by AksjeBloggen.com, the market capitalization of the world’s second largest cryptocurrency, Ethereum, has increased by 213% year-to-date to $ 44.3 billion, a 2.5-fold increase over the leading cryptocurrency bitcoin.
After an impressive performance in the first two months of 2020, Ethereum’s market cap plummeted 58% in the second week of March, dropping to $ 12.7 billion, CoinMarketCap data revealed.
However, the price of the world’s second largest cryptocurrency quickly rebounded, with market cap returning to USD 25.1 billion in the second quarter of 2020. Statistics show that the upward trend continued into the third quarter of the year. , with the combined value of all ethereum coins peaking at $ 53.5 billion in September, a 102% increase in three months. Although the last month has seen a slight decrease, with market capitalization slipping to $ 44.3 billion, this still represents a 250% jump after the March slump.
As the world’s leading cryptocurrency, Bitcoin has seen an 86% increase in market capitalization since the start of the year. In January, the combined value of all Bitcoins circulating in the crypto space amounted to $ 130.54 billion. After a sharp decline to around US $ 90 billion in March, this figure rose to US $ 176.2 billion in June, a 95% jump in three months. Statistics show that the market capitalization of the leading digital currency globally rose to $ 245 billion at the end of last week.
XRP, the third largest cryptocurrency globally, saw a 32% increase in market capitalization in 2020, rising from $ 8.4 billion in January to $ 11.1 billion last week.
In addition to an increase in market cap, ethereum has also seen a significant increase in daily transactions around the world. In the first quarter of 2020, the average number of daily ethereum transactions was 537,900, data from BitInfoCharts revealed. Over the next three months, this figure dropped 14% to 463,100.
However, at the end of the third quarter of 2020, there were more than one million ethereum transactions recorded every day worldwide, a 100% increase since the beginning of the year.
