Watch Out Bitcoin. Ethereum Is Ascending to New Heights

Watch Out Bitcoin. Ethereum Is Ascending to New Heights

ethereum-technology

Ethereum is the second-largest cryptocurrency behind Bitcoin. While interest in the latter is soaring, Ethereum is growing in popularity as well.

Ethereum is an open-source, blockchain-based distributed computing platform that can support smart contract functionality. That’s a complicated way of saying that Ethereum not only makes a cryptocurrency called ether possible, but it can also support the launch of new cryptocurrencies and make it possible to crowdsource funding for new projects.

“According to data presented by Aksje Bloggen, Ethereum’s daily trading volume hit $48.2bn this week (second week of February), a 220% increase year-over-year,” writes the research firm. “In February 2019, the 24-hour trading volume of the world’s second-largest cryptocurrency amounted to $2.6bn, revealed the CoinMarketCap data. Over the next twelve months, this figure jumped by more than 470% and hit $14.9bn in February last year.”

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