Ethereum and a handful of altcoins have charged higher while Bitcoin struggles to find enough momentum to clear the $58,000 level.
Ether (ETH) has been the star performer among major cryptocurrencies in the past few days as its rally has continued unabated. The second-largest cryptocurrency by market capitalization crossed the $3,300 today sending projects market cap to $381.6 billion.
Ether has now become the 24th largest asset in the world, vaulting the project above blue-chip names like Mastercard, NVIDIA, Walt Disney, Bank of America and Home Depot, according to data from Infinite Market Cap. This strong performance in Ether has also brought back murmurs of Ethereum flippening Bitcoin (BTC).
However, Ether has a lot of catching up to do if it wants to flip Bitcoin because its market dominance at 16.4% is much below Bitcoin’s 47%. Still, the rise of Ether is positive for the crypto sector because it is likely to attract the attention of institutional investors.
Fund managers will find it difficult to ignore the top two cryptocurrencies as their market caps surpass popular Wall Street names. This could continue to attract fresh money into the crypto sector and boost prices higher.
Let’s analyze the charts of the top-10 cryptocurrencies to determine their trend and the possible target objectives.