Cryptocurrency Ethereum continues to fall, while bitcoin is growing

on September 17, 2022, the value of the cryptocurrency Ethereum (ETH) fell again — compared to yesterday, the asset price fell by 2.21% to $ 1432.1. At the same time, the market capitalization was fixed at $ 175.45 billion. Yesterday, the ethereum cryptocurrency fell in value by almost 8% for the first time since Ethereum switched to the green blockchain.

Paolo Ardoino, CTO of Tether and Bitfinex, notes that despite the transition to PoS, ethereum will continue to lag behind bitcoin, as ETH still lacks a clear positioning, while BTC is recognized as digital money. «Bitcoin has long been perceived as a form of money, while Ethereum is stuck between the concepts of money and platform. ETH cannot compete with BTC as a form of money because it still has no limit on the maximum number of coins produced,» the top manager explained his position. The market indicators confirm the analyst’s words: unlike the second cryptocurrency, the flagship Bitcoin (BTC) rose by 0.84% per day and is trading at $ 19,872, with a total market capitalization of $ 380.68.

Ripple’s cryptocurrency rate (XRP) reached $ 0.349, which is 7.36% more than yesterday. The total supply of coins on the market amounted to $ 17.36 billion.

The Polygon (MATIC) cryptocurrency, like Ethereum, fell in price. The asset’s rate fell by 0.25% below the previous day’s figures. The token price is $ 0.811, and the market capitalization is $ 7.1 billion.

Ethereum Classic (ETC) also lost in value — today the digital asset is trading at $ 34, which is 0.1% less than yesterday. The total market supply amounted to $ 4.65 billion.

Cosmos (ATOM) cryptocurrency demonstrated one of the highest rates of return over the past day, rising by 10.33%. Today, the asset is trading at $ 16.33, and the market capitalization is fixed at $ 4.65 billion.