Bitcoin Forum

Ether trading overtakes Bitcoin


Trading in Ethereum’s digital currency, Ether (ETH), briefly surpassed bitcoin for the first time on Thursday afternoon. The trading preceded an eight percent price drop in Bitcoin, plunging from $1,222 down to $1,132 before recovering to $1,180 in the afternoon.

Ether has been trading at record highs over the past week. The “fuel” for Ethereum is up 23% today alone. On Thursday morning, around 9 AM Eastern Standard Time, the 24 hour trading volume totalled $424.9 million USD, while bitcoin’s was still at $383.7 million. Bitcoin’s trading volume has historically dwarfed Ethereum, and the “honeybadger” of crypto quickly regained it’s position.

Full Read Here: https://bravenewcoin.com/news/ether-trading-overtakes-bitcoin/ (https://bravenewcoin.com/news/ether-trading-overtakes-bitcoin/)

Riddle me this, if the "gas" for Ethereum dAPPs rises, then what does that do economically to the feasibility of using ETH for anything?

Oh... that's right.... its an inverse relationship. Best of luck ETH, you're going to need it.

This is typical crowd behaviour.... If the crowd moves in a specific direction... then the sheep follow in the same direction. The Crypto speculators

are playing the fiddle and the sheep is following. They will push the price up, and then sell to take the profits.... and then jump into the next hype

train, to take some more profits.  ::)

Most of them won't do well for profits though.  I feel that some groups are pumping ETH right now and following the crowd will result in amateurs coming last.  They won't know when or why to sell and before they know it they'll have a terrible investment hanging over their head.

That is really insane.
Can anyone of imagined an after thought of an alt would overtake the outright master and supremacy of bitcoin?
Just for doubts on this; look at where Litecoin, it's tandem partner from the very start has ended up. :-\
Almost in the trash. :(
What the hell does this have that bitcoin and even too a lesser extent litecoin didn't have?

It's not insane at all. Ethereum is being pumped in an extreme manner where the volumes as result of that are extreme too. It's not that difficult for the people behind this pump to wait till the volume peak of Bitcoin in that day to move outside the 24H range, where after that the ETH pumpers just generate a huge load of artificial volume to 'surpass' Bitcoin's trading volume. It doesn't hold any value.

That's a strange way of looking at it.  Surely if the majority of cryptocurrency trading has been with Bitcoin for several years, then everyone using Bitcoin has been just following the crowd for all of that time?

I recall a time when everyone was all excited about Litecoin. It was used for laundering stolen Bitcoin, so it isn't at zero, but its had its day in the sun. There are others that have fallen by the wayside as the pump-and-dump crews get involved (anyone remember Fontas and his LTC pumps?)

Anyway, ETH and the BU-Forkers won't be the last. Its just funny to me how people forget how things work out in the end. Bitcoin is the incumbent, not only because it was the first "mover" in the space, but because of its inroads with exchanges and merchants. Anything trying to steal the crown has a LOT of network momentum to overcome, and needs nearly the same amount of time to trickle into the same niches that Bitcoin has so far.

I'm sure we'll survive this latest wave of useful fools chasing easy gains in other alt-coins. Its just repeating itself, over and over...