In terms of market cap, the cryptocurrency data aggregator ranks Bitcoin as number one, followed by Ethereum, Binance Coin and Solana. The global cryptocurrency market cap today is $2.87 trillion USD. Over the last seven days, Ethereum’s value has risen by 15.8%, while Solana’s has jumped by 33.3%.
Ethereum now has a market cap of $540 billion USD, while Solana’s market cap sits at $72 billion USD.
Ethereum celebrated the frenzy with a tweet on Wednesday.
— ethereum.org (@ethdotorg) November 3, 2021
Ethereum plans to shift to a proof of stake model (PoS) in 2022, replacing the proof of work (PoW) model which requires a lot of energy consumption and computational power to complete. According to CNBC, the next stage of Ethereum will make the network’s infrastructure “more scalable, secure and sustainable.”