Ethereum Killers on The Rise

The Steady Growth

The world’s second most famous and trusted currency, Ethereum, is finally on the track to going up again. But that is not it. As we know, a lot of currencies in the market are becoming famous as ‘Ethereum killers.’ The reason behind this name is that they are offering more and more features that are similar to Ethereum but at lower costs. These cryptocurrencies include:

Solana

Avalanche

Algorand

Polkadot

Cardano

But Why?

In just one day, SOL, the native currency of Solana, has grown 11%. According to sources, the currency is up by 36% this week. Avalanche is not behind in terms of growth. The coin has seen huge profits, such as AVAX surging 10% in just one day and 43% this week. Other than that, many native coins of other blockchains are steadily surging upwards. Some of the examples are mentioned below:

ALGO of Algorant has grown 7% today and 25% this week.

DOT, a coin of Polkadot, rose 8% today and 23% last week.

ADA, Cardano has shown an 8% rise today and around 19% last week.

The question arises: What’s the reason for this. There is a possibility that the optimism surrounding Ethereum is spreading to other competing blockchains. This statement refers to ‘The Merge,’ which is the most awaited event in the history of cryptocurrencies. This is the reason why Ethereum is growing so fast, even during the crypto winter. The currency has risen 50% in the past week. The Ethereum developers have been busy this month due to the announcement of the Ethereum Merge. The tentative date for the upgrade to be completed in September 19. Before the announcement, the price value of ETH was $1,200. As of this writing, the currency is trading at $15,710, the highest value since June.

Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.