The cryptocurrency market is on a roll, thanks to strong buying by retail and institutional investors, who are betting high on digital currencies to make money in uncertain market situation induced by COVID-19. However, it is interesting to note that the current leg of the rally is not led by Bitcoin, which has been the flagbearer of the cryptocurrency market for many years.
The focus has shifted from Bitcoin (BTC) to other digital assets such as Ether (ETH) and Dogecoin (DOGE). Ethereum (or simply Ether), traded using the ethereum blockchain, has seen an unprecedented rise this year, with its value jumping by nearly 450% so far in 2021, giving investors better returns than Bitcoin and other traditional mainstream investment platforms.
On the other hand, Bitcoin has delivered a return of just 100% in the last four months, which indicates that momentum has shifted towards the ethereum blockchain.