Ethereum Overthrowing Bitcoin

Ethereum overthrowing Bitcoin already happened in dollar valuation, according to Celsius Network CEO Alex Mashinsky when he was interviewed about the likelihood of Ethereum surpassing Bitcoin in market valuation.

He believes the largest cryptocurrency by market capitalization is gradually losing its market dominance to Ether.

This is based on data gathered from Celsius Network.

Mashinsky expects Ether’s market cap to surpass Bitcoin by 2022 or 2023.

CoinShares, Europe’s largest digital asset investment firm reports an inflow of US$63 million into crypto investment products for the first time in five weeks after seeing four weeks of steady outflows.

Investors now give positive comments about the crypto space.

Bitcoin took the lead with US$38.9 million inflows, Ethereum having US$18 million inflows then Polkadot, XRP, and Cardano had US$2.1 million, US$1.2 million, and US$0.7 million inflows respectively.

Ethereum core developer, Tim Beiko has Proposes August 4 as the designated date for the upcoming “London” mainnet upgrade, Ethereum having 12,775,000 block number and expects to passover London at block 12,965,000.

London Upgrade is follows up the Berlin upgrade, which was launched in April.

Beiko wants client releases ready before the Upgrade Date. Also, The Ropsten, Goerli and Rinkeby testnets is rolling out the upgrade for several weeks now.

Freshman Congressman Barry Moore (R-Al) representing the Montgomery metro area, bought Dogecoin, Ethereum, and Cardano worth thousands of dollars from May to June, according to a disclosure filed last week with the Clerk of the House of Representatives.

As of May 5th Moore purchased $1,001 and $15,000 worth of F.thereum and an equivalent amount of Cardano on May 10, 11, and 13, and at least $1,001 worth of Dogecoin one month later

The world’s largest smart contract development platform, Ethereum (ETH) sees new 5-Î7 million unique addresses added in the last 30days, in preparation for its scheduled EIP-1559 upgrade.

This is influenced by the drive-in demand, resulting in its cumulative address growth despite the huge capital outflows last month.

Celsius Network CEO, Alex Mashinsky believes that Ethereum would flip Bitcoin as the demand for the world’s second-largest cryptocurrency grows.

Goldman Sachs describes Ethereum as the blockchaln with the highest “real use potential” and suggested that its Ether has the potential to become the dominant digital store of value.

The investment firm shared this In a note sent to clients and also predicted that the total market capitalization of Ether could surpass the total market cap for Bitcoin in the nearest future.

Ethereum is the most popular development platform for smart contract applications.

Author: Mcrypto