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Ethereum Is Best-Performing Crypto Followed by Bitcoin and XRP So Far This Year: Forbes Analyst

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Tue, 10/27/2020 - 09:14
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Yuri Molchan
According to the chief analyst from Ava Trade and Forbes, this year Ethereum has outperformed Bitcoin by more than two times in price growth, leaving XRP behind too
Ethereum Is Best-Performing Crypto Followed by Bitcoin and XRP So Far This Year: Forbes Analyst
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Naeem Aslam, the chief market analyst from Ava Trade who also publishes his material in Forbes, believes that, during this difficult year, Ethereum has done better than Bitcoin and XRP (speaking of the first three currencies not backed by USD on the market).

Ethereum leads the way, BTC and XRP are behind

According to data published by Aslam, Ethereum has demonstrated a rise of an astounding 206 percent YTD.

Bitcoin has surged 82 percent (however, Bitcoin has surged 300 percent since the collapse in March, as per Anthony Pompliano), and the fourth largest currency, XRP, has advanced 30 percent year-to-date.

The community hopes that Ethereum will launch its long-expected Ethereum 2.0 update, which will be crucial for the network and, among other improvements, it would switch ETH mining from the proof of work (PoW) to the proof of stake (PoS) consensus algorithm.

At press time, the second biggest cryptocurrency, ETH, is trading at $393.47, as per CoinMarketCap. Previously this year, ETH surpassed the $400 level several times but rolled back subsequently.

Related
Ethereum's Perpetual Swap Volume Crashes as Top Altcoin Continues to Lag Behind Bitcoin

ETH on-chain fundamentals hit new ATHs

Meanwhile, the analytics provider Glassnode has reported that several ETH on-chain metrics have shown an inflow of small-scale retail investors into Ethereum.

According to recent tweets, the amount of ETH wallets storing more than 0.01 coins has hit a new all-time high of 10,266,661.

Another ATH has been recorded with ETH wallets holding more than 0.1 coins: 3,567,767.

The number of ETH transfers (1-day MA) has also surged over the past 24 hours and hit 43,367.125. That is a 12.1 percent rise from the previous value of this metric.

ETH
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.