Currently and always, bitcoin (BTC) dominates the crypto market. However, some believe that its leadership could fade and that ethereum (ETH) could take its place.
47% of users imagine ETH dethroning BTC
What if the valuation of ethereum (ETH) exceeded that of bitcoin (BTC)? The question seems far-fetched given their respective current price in the crypto market. For good reason, BTC is worth around $29,900. This is more than 15 times the current price of ETH which is roughly $1,900.
However, this is what tends to show a recent report from Fidelity Digital Assets from multiple users. The figures of the financial services platform are explicit on this subject. According to them, 47% of users believe that the price of ETH will exceed that of BTC in the next 12 months.
It is therefore on the basis of this projection that Fidelity anticipates a bullish outlook for Ethereum, in the long term. The company has not advanced the data concerning this surge. This should, however, be in line with the positive performance achieved in recent months by the crypto.
Since the beginning of the year, the valuation of the asset has increased by nearly 62% despite the bear market. This development is based on a growth in the adoption of crypto, linked to an increase in transactions in ETH.
The latter could also reach a new level with Uniswap v4. This is a soon to be rolled out upgrade of the Ethereum network. This, with the objective of improving its operational capacities while limiting transaction costs.
This progress could also increase the market share of the platform. However, it does not necessarily demonstrate the real capabilities of ETH to outperform BTC. The latter, it should be emphasized, has experienced exceptional dynamism since the start of the year.
With the news around BlackRock’s Bitcoin ETF request, many analysts see bitcoin strengthening its position in the market. This development, among others, has many saying that bitcoin may be worth at least $500,000 by 2025.
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