Both of these are virtual currencies, ie, Bitcoin vs. ether.
The images are courtesy of Alain Pitton/NurPhoto and Dado Ruvic.
The month of November is set to be a winning one for ether, as its advance of more than 500% is running high above that of rival cryptocurrencies.
On Tuesday, the token of the network popped up as much as 6%. It was on track to rise by more than 8% in November. The move was driven by growth prospects for the platform from a sharper focus on the metaverse as Facebook, now named Meta, increased its commitment to expand in the online, 3-D space.
On a year-to-date basis, ether rose by about 530%, compared with the increase of 101% for bitcoin. The performance gap between the cryptocurrencies was the widest since 2015, when the ethereum network was launched.
According to an update on Monday, institutional investors pushed $23 million into ethereum products last week, the fifth week in a row of inflows.
A number of developments this month have benefited ether. The world's largest derivatives exchange was about to launch micro ether futures. Softbank, a Japanese bank, has invested in Sandbox, a metaverse gaming platform backed by ethereum.
Virtual land deals worth millions of dollars have strengthened ether.
The market cap of thecryptocurrencies is still behind that of the digital currency. It was worth around $550 billion on Tuesday, compared with the valuation of the digital currency. The investors are watching to see if ether will take the crown. The flippening is when ether will surpass bitcoin before the middle of the next century, according to a hedge fund manager.
During Tuesday's session, it was down 1% at $57,731.
Business Insider has an original article.
