There is a lot of news surrounding the second most capitalized cryptocurrency in the market, but the truth is that its cuts are being pronounced in the market. Now far from the level of $ 4,000 per asset and despite the continuous support of the institutions, factors such as the increase in costs per transaction.
Ethereum continues to be applauded from many sectors for its future potential, as an investment and for the possibilities it presents. However, it is something that investors do not seem to have very much in mind about the value right now. As a real time button shows. The falls of the Ether token during the last week are no less than 5 percentage points higher than those of Bitcoin.
A lag that could well be due to the high cost of their transactions, which, moreover, seems to be increasing in amount. The normal thing is that one of them is worth around 20 euros, but if we talk about smart contracts, the commissions rise to 60 dollars, which is a very high price. With the updates a substantial improvement was expected, but has not occurred. With the last one, the EIP-1559, what has occurred is a change in the way of paying them, in two sections, part is burned and part goes to the miners.
Be that as it may, the fact is that the asset continues to experience significant falls in the market, moving away from its annual highs, those harvested at $ 4,867 at the beginning of November. And this fact has also cut its capitalization that lowers global positions, already below half a trillion and standing at 458,000 million dollars. In addition, according to Companies market cap, it falls to 17th place in the world ranking, below Visa in valuation and above UnitedHealth.
And that which Cathie Wood considers to be undervalued, even above Bitcoin. The head of Ark Invest, a devotee of cryptocurrencies, also considers that both are not competitors, but that she sees Ethereum as a proposal with a lot of potential.
His interest in the development of the decentralized finance sector DeFi is also known, concentrated in Ethereum, which drives the value of crypto much more both inside and outside the market. And much will depend on its evolution in the coming years, because it affirms that it still has a long way to go, in the face of the greater development of Bitcoin.
In its price graph we see that Ethereum already yields 13.3% in the last week with cuts of 18.2% in the month. It gained 48.6% in the previous semester and the annual advances fell, but remained for assets at a significant 414% and year-on-year, since December of last year it has risen 546%.
BBVA Switzerland, the subsidiary of the Spanish entity that soon entered the world of custody first and after the sale of crypto assets, has expanded to Ethereum, which it is going to incorporate into its offer. And it is a second step, because the objective of BBVA suiza is to continue incorporating and expanding the portfolio of digital assets in the coming months.
In competition since last June, through its so-called New Gen account, through which Bitcoin can be incorporated as before, and add Ether to it, making it the first traditional bank in Europe in incorporating ether into your service. All in a cast of the highest interest that these assets arouse and the guarantees of complying with the regulation.
And as an anecdote, remember that Ethereum has been among the most searched of the year for Google. Specifically, the news related to the price of its token in the market, ranked tenth.