Ethereum [ETH] establishes dominance over XRP; surge seen across altcoins

On 27th September, the cryptocurrency market saw some volatile action with the price of cryptocurrencies going up and down throughout the day. Popular cryptocurrencies such as Bitcoin [BTC] and Ethereum [ETH] saw green towards the end of the day.

At the time of writing, Ethereum was going up by 1.68% with a total market cap of $22.356 billion. The cryptocurrency was trading at $218.71 with a 24-hour market volume of $1.821 billion. Most of the Ethereum’s trade volume was held by BitForex with a clear majority of 24.08%. The trade volume occurring on BitForex amounted to a staggering $661.02 million which was much more than second-placed DOBI trade’s $1322.188 million.

Ethereum, which had fallen behind XRP in terms of the market cap a few days back is now back to its stronghold, maintaining a strong second position. At press time, the disparity between the Ethereum and XRP stood at $1.42 billion.

The cryptocurrency in the news recently when Michael Novogratz stated that Bitcoin’s price position was far better than that of Ethereum’s. He said that after the selloff in the cryptocurrency space, Bitcoin’s hold as a leader in the cryptosphere is undisputed. Novogratz also added that in his perspective, Bitcoin is more of a blockchain player than a fintech player.

ETH has also been involved in real-world applications with latest reports stating that Juventus, the Calico A juggernaut, has announced the launch of their own fan token. Cristiano Ronaldo’s new team has partnered with Socios.com, a fan engagement platform that uses blockchain technology.

Giorgio Ricci, Head of Global Partnerships and Corporate Revenues of Juventus stated that:

“Together with Socios.com we believe we can offer new opportunities to our worldwide fan base to engage in cutting-edge way with their favorite club”