- Ethereum challenges Bitcoin's dominance as cryptocurrency market capitalization crosses $2 trillion for first time since May.
- Cardano is hot on Ethereum's tail and prepares for smart contract launch, ADA price rallies to $2.
- Proponents claim Solana and Polkadot are more technologically advanced than rival Ethereum
The non-fungible token (NFT) landscape is currently dominated by Ethereum, and it is likely that NFT applications migrate from the mainnet to layer-2 solutions. Ethereum killers are competing for a bigger share of the NFT market.
Ethereum rallies ahead of major upgrade, rival blockchains compete for dominance
The second largest cryptocurrency by market capitalization soars as another $500 billion is added to the cryptocurrency market’s total capitalization. Bitcoin and Ethereum currently dominate the crypto market, however, this is set to change with fierce competition from “Ethereum killer” rival blockchains like Cardano (ADA), Solana (SOL) and Polkadot (DOT).
Traders are eagerly waiting for ETH2, a set of interconnected upgrades that will make Ethereum more scalable and secure. The altcoin’s price rally started ahead of the London hardfork, and ETH has consistently posted gains since then.
Currently, ETH price is up 14.4% in the past seven days and is primed to retest all-time highs.
