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Ethereum Battles Bitcoin for Wall Street Whales
Bitcoin’s little sibling ethereum is stealing the spotlight lately, climbing more than 30% year to date as of yesterday afternoon to outperform its No. 1 crypto rival. Both of the two biggest cryptos surged on Friday after Federal Reserve Chair Jerome Powell hinted at a September rate cut. Bitcoin rallied above $112,000, and ether hit an all-time high above $4,800. But bitcoin rapidly cooled over the weekend as investors reined in their rate-cut hype and some shuffled their crypto portfolios in favor of ethereum. By Sunday, ether broke past $4,900 before cooling off on Monday. Bitcoin, meanwhile, ... (full story)
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