Ethereum out performs Bitcoin

The bull market is on the cusp of taking hold as the Crypto Winter appears to be coming to a close and the decentralised economy once again breaches $US1 Trillion total market cap. A clear indication that doomsayers claiming Bitcoin would reduce to rubble were once again incorrect on their premonition and market confidence in the new age currency is continuing to grow in popularity.

As we look into what is occurring the growth of the current bull market is directly aligned with the emergence of the Ethereum Proof-Of-Stake transition which has seen Ethereum increase by almost 38% in total market cap. Image Source

Ethereum has broken out of the stabled on a clear rampage with no end in sight as it's value continues to surge faster than all other crypto currencies indicated strong market confidence and investors returning to the decentralised economy.

The rapid increase can be pin pointed to the upcoming Ethereum Merge or more so it's transition to proof-of-stake. Ethereum's most recent tests of the Proof-Of-Stake transition was a success signalling a market opportunity with the possibility of seeing Ethereum finally out pacing Bitcoin.

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Ethereum De-Fi moons

Over the past few days Ethereum's Decentralised Finance (De-Fi) sector has begun regaining lost ground mooning to $US84 Billion in Total Value Locked (TVL) Assets.

This is a 37% increase within the last 7 days as investors return to the Network after the crypto winter caused by Terra (Luna) Network collapse.

Rough Seas a head for Centralised Companies

Institutional investors and corporate companies continue to collapse as now ZIPMEX is hit hard and too is pausing withdrawals as liquidity becomes an issue and the company struggles to honour investor funds.

Further investigation has unearthed that Tesla, led by Elon Musk dumped over $US900m worth of Bitcoin which was roughly 75% of their total Bitcoin holdings in June which further eroded Bitcoins support base line resulting in mass liquidations and significant price drops.

Elon has since stated that Tesla will once again accept Bitcoin as payment once the mining efforts include a 59% mix of renewable energy.

There still appears to be volatility ahead with possible interest rate increases, political instability across rising inflation costs and many turning to Bitcoin as a means outside of Government control.

This final half of 2022 is going to be a very interesting period but if the market charts are anything to go by, We're in for a surprising bull run.

Image sources provided supplemented by Canva Pro Subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.

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