Over 3,000 Twitter Traders Vote on Longing and Buying Ethereum (ETH) Over Ripple (XRP)
According to a recent poll conducted by the crypto engineer on Twitter @BluesCrypto, 40% of the respondents said they would rather long Ethereum (ETH) than other digital assets. 33% of the voters said that they would long XRP.
Ethereum or XRP?
There are different digital assets in the market, but two of the largest include Ethereum and XRP. Ethereum is the second most popular after Bitcoin (BTC) with a market capitalization of $26.65 billion. Meanwhile, XRP is the third largest with a market cap of $16.84 billion.
There are several enthusiasts that are always having a look at whether it is possible for XRP to surpass Ethereum or vice versa. Although XRP targets another industry and investors, enthusiasts tend to compare themselves with Ethereum in terms of market valuation.
This poll shows that there is a larger number of investors on Twitter that prefer to place a long position on Ethereum than on XRP. Nonetheless, XRP continues to expand around the world by offering services to banks and other financial institutions. The services that Ripple provides allow companies to process cross-border payments in a faster and easier way than with the current systems such as SWIFT.
The poll has also included Bitcoin Cash (BCH), the fourth largest digital currency with a market capitalization of $7.18 billion. In this poll, just 4% of the respondents voted for Bitcoin Cash, the forked coin from the Bitcoin network that provides on-chain scaling solutions to Bitcoin.
— Blues ❂ (@BluesCrypto) May 17, 2019
“Other” digital assets received 23% of the votes, including EOS, Litecoin (LTC), Binance Coin (BNB), Stellar (XLM) or Cardano (ADA). Altogether, these coins have over $20 billion market capitalization.
Ethereum is currently used in order to deploy smart contracts and launch tokens for ICOs. At the same time, the Ethereum network is moving towards Serenity, which will make it a Proof-of-Stake (PoS) and scalable blockchain network rather than a Proof-of-Work (PoW), slow and non-scalable chain.
There are different currencies and coins in the market that many users would long and purchase during a bull market for altcoins. However, Ethereum and XRP capture a large number of investors.