2021-08-08 02:20:00

3 reasons why Ethereum is unlikely to flip Bitcoin any time soon By Cointelegraph

3 reasons why Ethereum is unlikely to flip Bitcoin any time soon

After a 13% rise in two days, ‘s (BTC) market capitalization surpassed $800 billion to reach its highest value in 79 days. During the same timeframe, Ether (ETH) accumulated a 45% gain in two weeks, placing the network’s market capitalization at $340 billion.

Positive expectations for the London hard fork and its potential deflationary effect undoubtedly played a role, but some investors continue to question how Ether’s valuation stacks against Bitcoin. Some, including Pantera Capital CEO Dan Morehead, expect Ether to outpace Bitcoin as the largest cryptocurrency.

Addresses with $1,000 or higher balances. Source: CoinMetrics
Publicly traded crypto products. Source: Bloomberg and Investing.com
Bitcoin futures aggregate open interest. Source: Bybt
Ether futures aggregate open interest. Source: Bybt