Ethereum will eventually overtake the number one cryptocurrency by market capitalization and this will happen in the next five years, said 1confirmation founder Nick Tomaino.
He noted that today's capitalization of Bitcoin is approximately $1,2 trillion, which is about four times that of the second cryptocurrency ($321 billion).
“I believe both [assets] will continue to rise, but ETH will eventually overtake BTC. The reason is simple. Bitcoin has a simple narrative (digital gold) that already has institutional players involved. Ethereum has been the most influential blockchain in the industry for the past five years, but is not fully understood.” Tomaino wrote.
According to the expert, with the help of Ethereum, the most talented developers in the world are building a decentralized Internet, which is powered by digital oil in the form of ETH. It is a scarce, profitable and useful asset.
“And since its market cap is now significantly lower than Bitcoin, Wall Street can grab a lot of [ETH]. They will and will aggressively impose ETH on the world for years to come.” added the founder of 1confirmation.
1 confirmation Q2 2024 LP letter pic.twitter.com/7aysi4xCYL
— Nick Tomaino (@NTmoney) August 23, 2024
To always be aware of the most important things, read us at Telegram
