The last week of April saw Bitcoin and other cryptocurrencies in the market suffering some minor losses, with the market heading to an expiry of $4.2 billion in options contracts. Several reports from Cointelegraph markets and TradingView have shown that ever since BTC reached a high of $56,400, its price has staggeringly dropped below 6% to reach a level of $53,000. In the same period, Ethereum has continued to trade at a level of about $2,700.
Ethereum Might Overtake The Prices of Bitcoin
Now, even though there is quite a lull in the market activity surrounding Bitcoin and other cryptocurrencies, there have been some clear-cut signs of integration of the market into the mainstream culture which will come up on a daily basis. Just a while back, Coinbase came up and announced that several users could now purchase almost $25,000 worth of crypto when they utilize their PayPal profile.
To be clear, it isn’t just the institutions of finance that have gone ahead and started integrating the technology of blockchain into their financial objectives. The Ethiopian government has already revealed its partnership with IOHK (Input Output Hong Kong), which is also the R&D sector behind altcoins like Carcano. This new blockchain technology would be utilized to help overhaul the education system prevalent in the country.
Although Bitcoin is still operating at a level below what is expected of it, its pairing with Ethereum has steadily started ascending in a move that was already decreed by quite a few analysts. This bullish movement of the top two cryptocurrencies has also brought conversations about Ethereum prices eventually flipping the prices of BTC.