After the Chinese government placed a ban on cryptocurrencies and all activities related to digital currencies, the cryptocurrency market suffered a blow. Bitcoin and other cryptocurrencies faced termination and this caused panic in the cryptoverse. At the time, analysts believed that the move was meant to make a way for the production of a digital copy of the Yuan but this hasn't happened up till now.
Ethereum Takes First Place
The Chinese authorities have released the crypto-rankings with Ethereum, the leading cryptocurrency only second to Bitcoin, ranking first on the list. Ethereum comes first in the assessment index due to its sophisticated network.
The authorities measured the platforms based on their availability, application and potential. This may support the hope many Ethereum enthusiasts have on the capabilities of the Ethereum blockchain.
What Roger Ver Thinks About Ethereum
Industry figures like Roger Ver already made comments about the potential of Ethereum and predicted a time when Ethereum will become the most valuable cryptocurrency and steal Bitcoin’s relevance.
You'll recall that Roger Ver, the Bitcoin Jesus, is one of the earliest investors in Bitcoin. Although he is currently living in Japan as a prominent advocate of Bitcoin, he was born and raised in America.
During his recent interview with “The Independent” Ver made a prediction into the future of Ethereum.
“Ethereum may overtake Bitcoin before the end of this year. It is imminent. I see it happening. Before 2020, Bitcoin Cash will overtake Bitcoin as well.
In his opinion, the flippening is upon the cryptocurrency industry and will take place by the end of this year. The flippening is a cryptocurrency term that defines a period when altcoins that depend on the market value of Bitcoin will rise above it. This period will be the beginning of the end of Bitcoin’s dominance in terms of popularity and market capitalization.
It's only a matter of time. By the end of the year, the industry will know if the prediction of Roger Ver is accurate.
Posted from my blog with SteemPress : https://smartereum.com/15542/ethereum-comes-first-on-the-chinese-governments-blockchain-ranking/