The Contenders
While Bitcoin captures headlines with its historic surge past 1200, the real story unfolding in early March 2017 is the explosive momentum building across the altcoin market. Ethereum leads the charge, gaining 34% in just seven days and trading at 19.30 as the broader cryptocurrency ecosystem enters what many analysts describe as a new phase of mainstream recognition. Dash, Monero, and NEM are not far behind, each posting double-digit gains that signal growing investor appetite for alternatives beyond Bitcoin.
The altcoin surge coincides with a pivotal development in the blockchain space: the launch of the Enterprise Ethereum Alliance (EEA) on February 28, 2017. This consortium, featuring founding members such as J.P. Morgan, Microsoft, Intel, Banco Santander, BNY Mellon, CME Group, and Accenture, represents the largest corporate-backed blockchain initiative to date. The formation of the EEA validates Ethereum as more than a speculative asset and positions the network as enterprise-grade infrastructure capable of transforming industries from banking to supply chain management.
Tech Stack Showdown
Ethereum technical architecture gives it a distinct advantage over other altcoins in the current market. Unlike Bitcoin scripting language, which is deliberately limited, Ethereum Solidity programming language and the Ethereum Virtual Machine (EVM) enable developers to build complex decentralized applications (dApps) and execute peer-to-peer smart contracts without intermediaries. This programmability is precisely what attracted enterprise players to form the EEA.
But Ethereum is not the only altcoin making waves. Dash, trading at 42.31 with a market cap of 302 million, offers a compelling alternative with its InstantSend and PrivateSend features that address Bitcoin well-documented scalability and privacy limitations. Monero, priced at 15.18, provides robust privacy through ring signatures and stealth addresses, gaining traction among users who prioritize transaction confidentiality. NEM, with an astonishing 75% weekly gain, brings its unique Proof-of-Importance consensus mechanism to the table, challenging conventional approaches to blockchain validation.
Community and Ecosystem
The developer community surrounding Ethereum has grown exponentially. With Vitalik Buterin, Ethereum creator, actively participating in the EEA governance, the project benefits from both grassroots developer enthusiasm and institutional credibility. The EEA stated mission is developing industry standards, a reference architecture called EntEth 1.0, and best practices around security, privacy, and scalability. This signals a maturation of the Ethereum ecosystem that goes far beyond speculation.
Meanwhile, Bitcoin community remains divided over scaling solutions, with the contentious SegWit debate creating uncertainty. This internal friction drives some developers and investors toward Ethereum and other altcoins that offer clearer technical roadmaps. The contrast is stark: while Bitcoin debates block sizes, Ethereum is building partnerships with the world largest financial institutions.
Adoption Metrics
The numbers paint a compelling picture. Ethereum market cap stands at 1.73 billion, making it the second-largest cryptocurrency by a significant margin. The 24-hour trading volume of 26.8 million represents growing liquidity. But the real adoption story lies in enterprise interest: J.P. Morgan has already built Quorum, an enterprise-grade Ethereum implementation, while Microsoft offers Ethereum-based blockchain services through its Azure cloud platform.
Across the broader altcoin market, the combined market cap excluding Bitcoin exceeds 2 billion for the first time. This diversification reflects growing sophistication among cryptocurrency investors, who are allocating capital across multiple projects rather than concentrating holdings in Bitcoin alone. The Enterprise Ethereum Alliance 30-plus founding members collectively represent trillions of dollars in market capitalization, providing unprecedented validation for blockchain technology as a whole.
The Final Verdict
The altcoin market in early March 2017 stands at an inflection point. Ethereum 34% weekly surge is not merely speculative froth. It reflects genuine enterprise adoption through the EEA, a maturing developer ecosystem, and technical capabilities that Bitcoin cannot match for programmable applications. Dash, Monero, and NEM each serve distinct market niches that Bitcoin architecture does not address, creating a multi-asset crypto landscape for the first time.
For investors evaluating the altcoin space, the EEA launch changes the calculus entirely. Ethereum is no longer just a cryptocurrency; it is becoming the infrastructure layer for enterprise blockchain adoption. With Bitcoin scaling debates unresolved and institutional money flowing into Ethereum-based projects, the altcoin market appears poised for continued growth. However, investors should remain cautious. The rapid price appreciation across multiple altcoins simultaneously often precedes sharp corrections, as historical data from previous crypto cycles demonstrates.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk. Always conduct your own research before making investment decisions.
the EEA announcement moved the entire market, not just ETH. dash monero NEM all ripping because institutional money was finally validating the space
BNY Mellon and CME Group in the founding members list and ETH was still under 20 bucks. the signal was right there
hard to overstate how big the EEA launch was. before that ETH was basically the coin Vitalik made to most people outside crypto