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While Bitcoin has been the center of attention for the past couple of weeks, Ethereum has begun to garner traction again. CNN recently talked about altcoins in an article published in its Business column, highlighting trends in non-BTC cryptocurrencies.
This reinforces the fact that altcoins are once again starting to enter the minds of investors following space. This has also recently been cemented by 2017 era coin rallies like Verge, Nano, among many others.
Previously, the focus was on larger caps like Ethereum and DeFi-focused coins like YFI and AAVE.
Related Reading: Here’s Why Ethereum’s DeFi Market Could Be Close To Bottom
Ethereum quoted by CNN
Ethereum and other altcoins are gaining mainstream attention after outperforming Bitcoin in recent weeks.
CNN says to “forget Bitcoin” for the moment as there are some cryptocurrencies in the space that are “growing even more”.
“While bitcoin has risen 15% in the past week to reach a new all-time high just below $ 20,000, ethereum – the second largest cryptocurrency after bitcoin – has grown by more than 20% in the past seven days. Meanwhile, XRP, the third. largest cryptocurrency, it has risen by nearly 25%. Litecoin, Polkadot, Cardano and Stellar, all of which are among the top dozen largest cryptocurrencies, have also enjoyed greater gains than bitcoin. “
Rachid Ajaja, CEO of AllianceBlock, told the outlet that he expects Bitcoin to be outperformed by Ethereum in the future:
“There has been more demand from major cryptocurrency financial managers, and the big question is what the relative value of these altcoins is relative to bitcoin. There is probably more upside in Ethereum than in bitcoin. “
Related reading: Tyler Winklevoss: A “tsunami” of capital is coming for Bitcoin
Paul Tudor Jones talks about Altcoins
Cementing the rise of altcoins in public mindshare is Paul Tudor Jones.
The billionaire wealth manager recently told Yahoo Finance that he sees some interest in Ethereum and Tether.
While he said he’s not “smart enough” to articulate a bull case on a world of multiple cryptocurrencies, he imagines there could be a world where there is an industrial crypto asset (Ethereum) and a valuable crypto asset. This is in reference to the real world, where there are precious metals like gold and industrial metals like copper.
Related reading: 3 Bitcoin chain trends show a macro bull market is brewing
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com CNN Talks Ethereum and Altcoins In Recent Business Article
