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Seeking Alpha 2021-05-10 12:16:24

Ethereum cryptocurrency tops $4K, while Bitcoin sticks in tight range

Bitcoin (BTC-USD) remains mired in a tight range (though currently near the top of that range at $58K), but ether (ETH-USD) continues to surge, topping $4K for the first time overnight. It's currently at $4,064, putting its market cap at $471B vs. bitcoin's $1.09T. For perspective, the market cap of JPMorgan - the country's largest bank - is $488B.Year-to-date, ether is higher by 435% vs. "only" about a doubling for bitcoin.While bitcoin can be thought of as Internet money, or Gold 2.0, the Ethereum blockchain holds the promise of things like DeFi (or decentralized finance), upon which entrepreneurs hope to disrupt much or all of what is considered traditional finance.Checking in on dogecoin (DOGE-USD), it's bouncing a bit today, up 18% to $0.51. It suffered a 50% collapse following Elon Musk's SNL appearance over the weekend.

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