Ethereum Beats Ripple Again to Become The Second Cryptocurrency by Marketcap

News and Analysis

Ethereum has become the world’s second capitalized cryptocurrency again, with only Bitcoin prevailing. The price of Ether, Ethereum’s native token, gained more than 22% during the last 24 hours, and reached $3.72 at the time of writing.

According to data provided by CoinMarketCap, ETH trading volumes also peaked at $14,1 million. Ripple has reached $290 million market cap as of January 7, however, now the XRP token’s price has fallen by more than 8% or $265 million market cap, left behind by Ethereum again.

Now Ethereum's cryptocurrency holds the second position behind Bitcoin

Now Ethereum’s cryptocurrency holds the second position behind Bitcoin. Source:

Ethereum’s price surge has been supplemented by news from Canonical, the sponsor of the Ubuntu OS, who has announced partnership with two Ethereum companies, ConsenSys and BlockApps.

The companies intend to provide so-called Nimbus uPort Biometric Digital Identity tools to Ubunty mobile devices. According to the statements from their spokespersons, the collaboration is the start of the “Internet of People”, a campaign aimed at using Ethereum’s self-sovereign identity. The system maintains secure interaction with Ethereum blockchain via biometric control of cryptographic keys. The feature would give access to Ethereum’s DApps (decentralized applications).

Commenting on the deal, Thibaut Rouffineau, Head of Devices Marketing at Canonical, said:

“Canonical is keen to support the development of blockchain applications and their expansion from business cloud solutions to mobile consumer applications. Working with ConsenSys and BlockApps on building a platform for the consumption and creation of blockchain based mobile apps is the realisation of the promise of Ubuntu as the reinvention of personal mobile computing.”

Joseph Lubin, founder of ConsenSys and a co-founder of Ethereum, said in his turn:

“The Ubuntu phone is an elegant revision of the smartphone experience. And incorporating the uPort persistent, portable Identity tools takes this elegance into a realm beyond, where identity is self-sovereign — fully controlled by the user, deeply secure and, like the phone itself, opens new vistas on the emerging decentralized web services.”

This is not the first news regarding rapid expansion of Ethereum-based services. In late 2015, a British bitcoin startup Plutus announced a smartphone app facilitating cryptocurrency payments via NFC (near field communication) even in cases when merchants never heard of digital currency. The platform employs Ethereum smart contracts, thus eliminating the need of holding customer funds. The smart contracts also maintain automated exchange from Bitcoin to fiat via the startup’s decentralized network PlutusDEX, and record all transaction on the blockchain.

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