Ethereum’s market cap has risen strongly. It now stands at $20 billion, and it seems to be rising fast enough to bypass Bitcoin later this year or next year.
The more interesting view is Ethereum’s relative market cap. In other words, how big is Ethereum’s market cap compared to the total market cap of cryptocurrencies. That is what we mean with Ethereum’s market share.
Below chart shows Ethereum’s market share against Bitcoin and Ripple. There are some very interesting insights to derive from this chart:
- Both Ethereum and Ripple are rising against Bitcoin, a trend that started in February of this year.
- Ethereum is outperforming Ripple.
- Ethereum’s market share is already close to 30 percent meantime. As this chart is a couple of weeks old it would not surprise us if the market share meantime has risen above 30 percent.
- Bitcoin’s market share has truly collapsed from close to 90 percent to below 50 percent in just 3 months.
The conclusions are clear: Bitcoin is losing ground against other cryptocurrencies. Primarily Ethereum and Ripple are gaining ground, and that really is because they deliver lots of value.
The price of Ethereum will reveal how much more value Ethereum will deliver over time.