HomeLatest NewsCould Ethereum Outpace Bitcoin This Bull Cycle? Where to Buy Ethereum

Could Ethereum Outpace Bitcoin This Bull Cycle? Where to Buy Ethereum

Ethereum has seen its price rise by 12% in the last seven days.

What is Ethereum?

Ethereum is a community-run blockchain system that can execute smart contracts and host decentralised applications (Dapps). The ETH cryptocurrency fuels and secures the network and can be used in applications and to pay gas fees.

The Ethereum network holds almost $64 billion worth of value locked into decentralised finance (DeFi). ETH has seen a trading volume of $40 billion in the last 24 hours as traders increase buying pressure.

To put this into perspective, ETH’s price has risen by 10.7% over the past 30 days.

Ethereum’s whitepaper was written in 2013 by Vitalik Buterin and its other co-founders have gone on to found other successful projects. Gavin Wood created Polkadot, Charles Hoskinson is the founder of Cardano and Joseph Lubin went on to found ConsenSys.

Where can I buy Ethereum?

eToro

eToro is one of the world's leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It's social copy trading features make it a great choice for those getting started.

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CEX.IO

Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.

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How is Ethereum different from Bitcoin?

After Bitcoin, Ethereum is the second largest coin by market cap and one of the most common cryptocurrencies in investment portfolios. However, unlike Bitcoin, Ethereum has smart contract functionality, meaning it can host Dapps.

Many people have raised concerns about the environmental impact of Bitcoin’s energy-intensive proof-of-work consensus mechanism. Although Ethereum currently also runs on proof-of-work, it is in the process of upgrading to Ethereum 2.0, which will mean transitioning to proof-of-stake and a 99.95% reduction in energy usage.

Anticipation around this update and the incredible growth of Ethereum’s DeFi ecosystem have many believing ETH will outpace BTC this bull cycle.

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