Ethereum is Emerging as the ‘Top Crypto to Trade’ Butchering Bitcoin

Bitcoin's era is coming to an end as Ethereum options gain traction in the trade community

Ethereum is one of the most well-known altcoins that is speculated to overtake Bitcoin quite soon enough. Even after the massive declination in the overall value of the cryptocurrency, analysts and experts continue to believe that by the end of 2022, the ETH price would definitely surge by 400%. Quite rightly so, Ethereum is set to prove these predictions right! The current ETH price rally has triggered a rise in the popularity of Ethereum in the trade community. Recent reports claim that Bitcoin has remained one of the top cryptocurrencies that retailers use to trade, but now Ethereum is determined on taking its position. The flourishing ETH tide in Q3 of 2022 is enhancing the traction of Ether options over Bitcoin's.

Ethereum's native token, ETH, has grown immensely in value since its creation, and since then it has been determined to establish itself as the largest cryptocurrency in the world, overtaking Bitcoin. To accelerate this process, the crypto developers have been planning to turn over the ETH blockchain to undertake the largest transformation in the crypto market. The much-speculated Ethereum Merge upgrade will fundamentally change how the network manages its system by becoming more energy-efficient and scalable in the process. The Merge is set to launch on or before September 2022 and claims to have big implications on the future prospects of Ethereum.

Ethereum is Slowly Butchering Bitcoin's Future Prospects

Currently, Ether options have been trading for a much shorter time compared to Bitcoin options, but the ETH crypto has done an excellent job in catching up with its predecessor. Ether trade options were introduced in the market back in January 2020 and since then it has experienced a steady growth slope. However, no matter how much ETH grew, Bitcoin remained the dominant cryptocurrency that overshadowed the potential of Ether. The conditions of Ethereum declined further when the crypto market slumped and the ETH price touched three-digit values. But as soon as Tim Beiko declared the probable launch date of the Merge upgrade, the price of the token soared, and also raised the market cap of the wider cryptocurrency market.

Interest in Ether options expanded that led to the meteoric rise of the crypto. Currently, at the time of writing this article, the price of Ethereum is revolving around the US$1,800 mark, moving way past the congested resistance floor of US$1,100. For quite a long period of time, Ethereum Merge failed to impose its impact on the crypto market and its investors. Experts and analysts predicted that the ETH 2.0 protocol would emerge as another disappointment like the LUNA 2.0. But its current price rally indicates that the crypto's value has significantly risen and has convinced investors that this protocol would eventually yield profits for the investors.

What happens if the Ethereum Merge rally destabilizes?

The current price movements of Ether dictate that the token is gradually making its way to surpass Bitcoin. Even when the crypto was at its worst, Ether recorded a 700,000% return on investments. Being the second-largest cryptocurrency in the market, Ethereum is subjected to far more volatility than any other altcoin in the market, so it might be possible for ETH to tumble down again. Ethereum's price has depicted a rapid increase, hence, it might be susceptible to more volatility. For the time being, it does not seem like Ethereum's value will tumble below US$1,600, but investors should always be prepared to face the worst. The popularity of Ether options has heightened currently, but if Bitcoin ramps up its performance, it might again overtake ETH's market hold.