Bitcoin Price Prediction as Daily Trading Volume Falls Below Ethereum – Will ETH Overtake BTC?
Amidst the dynamic crypto landscape, Bitcoin currently trades at $25,787, reflecting a subtle rise of 0.04 percent on Thursday. However, a confluence of factors has spurred speculations on its future trajectory. Notably, the 'historic' heatwave has taken a toll on the crypto mining industry, leading to a significant 9% drop in Marathon's Bitcoin production.
Adding to the complexity are the alleged wallet addresses for Grayscale Bitcoin Trust, recently disclosed by Arkham. Meanwhile, in a bid to bring clarity to the financial markets, FASB has issued recommendations on marking cryptocurrency assets at their present values.
Amid these developments, financial commentator Peter Schiff has raised alarm bells, warning of a potential dollar collapse. He emphatically argues that the US can ill afford to distance itself from China in the current economic landscape.
With Ethereum's trading volume surging, one can't help but ponder – is the reign of Bitcoin as the undisputed crypto leader under threat?
Currently, Bitcoin's daily transactions have reached 485,357, marking an increase of 5.03% from the previous day and a substantial 81.02% surge from the same time last year.
However, while Bitcoin's transactions are growing, Ethereum seems to be gaining the upper hand in sheer volume.
Ethereum's daily transactions stand at an impressive 1.059 million, although this is a 6.53% increase from yesterday, it's down by 1.67% compared to last year.
As Bitcoin's transaction count continues to rise but remains below that of Ethereum, a looming question arises: Could Ethereum's trading volume eventually surpass that of Bitcoin, challenging its dominant position?
It's essential to remember that trading volume is just one metric, and the broader
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