As normalcy appears to be returning to the cryptocurrency sphere, analysts and traders from far and wide are looking into the possibility of benefiting massively by divulging their wealth into altcoins with short or long term benefits.
A twitter poll which sampled the opinions of cryptocurrency traders on what digital assets they prefer to invest in for a short or long term period indicated that investors and traders alike were interested in buying Ethereum over a number of altcoins in the market, but Ripple’s XRP, through the result, showed great formidability by coming second in the poll.
The initiator of the poll, BlueCrypto, asked: “If we were to enter an alt season, which coin would you long/buy first?”
Reading the outcome of the poll, which started on May 17 with 3,310 voters, 40% were ready to buy Ethereum first, while 33% queued behind Ripple XRP, just 4% were willing to buy BCH, and the remaining 23% were ready to buy other cryptocurrency.
The 33% pulled by XRP have seen viewed by observers as a significant result that shows that the world third cryptocurrency by market cap by overturn the first altcoin in the market.
— Blues ❂ (@BluesCrypto) May 17, 2019
Ethereum in the Market
Ethereum has been performing excellently in the cryptocurrency market. Although, few days ago, there was congestion on Ethereum network, with high volume of transactions waiting to be confirmed. However, there seems to be lower volume of transaction awaiting confirmation on the network.
At the time of writing, Ethereum is trading around $255 with 7% price gain in the last 24 hours. Remember Ethereum once traded around 275 at some point in the last 7 days. In January 2018, Ethereum touched $1,432.88, a price said to be its all-time high.
Ethereum Network today is one of the most used among other blockchain projects. 50 percent of Forbes billion dollar projects run on Ethereum network. Amazon, Google, Samsung, Facebook, Coinbase and a host of other big firms make use of the network.
Ripple’s XRP in the Market
XRP is also doing fantastic in the crypto space. The digital asset, at the time of filing this update, is changing hands at $0.403969, with a price increase of 7 percent in the last 24 hours.
Ripple’s XRP has the potential of being used by big banks and central banks across the globe as some financial companies, commercial and central banks are showing interest in using the digital asset to move fund across borders.