Galaxy Digital Portfolio Investments, Galaxy Digital Funds, Galaxy Digital Exits

This Is Ethereum’s Bitcoin Flippening Catalyst This Is Ethereum ’ s Bitcoin Flippening Catalyst While the ‘ flippening ’ is not at hand, Galaxy Digital ’ sulfur trade co-head expects it taking position in the adjacent 2-3 years There is a school of think that believes Ethereum ( ETH ) will one day overtake Bitcoin ( BTC ) as the universe ’ s most valuable cryptocurrency. While this may seem far-fetched to some, to Galaxy Digital ’ randomness trade co-head Jason Urban the Ethereum-Bitcoin flippening is a probably scenario. In an interview with Kitco News, the veteran trader explained why he believes that Ethereum will end up overtaking Bitcoin in terms of marketplace cap and become the dominant cryptocurrency. The ETH network presently has a market crown of around $ 385 billion. This is second only to Bitcoin ’ s $ 805 billion market capitalization. The major driver identified by Urban was the approaching $ ETH ‘ Merge, ’ which will shift the Ethereum net from its current model of proof-of-work ( POW ) to one called proof-of-stake ( POS ). The modern mechanism will mark the end of Ether crypto mining. This is a major upgrade for Ethereum – expected to take place somewhere in this quarter – as it will give the smart contracts network another edge over Bitcoin ’ s proof-of-work mechanism. The blend will dramatically cut energy function ampere well as improve the scalability and security of the network, making it more attractive to more entrenched retail and institutional investors. “ There ’ randomness scalability and things that nowadays become identical valuable and will allow ETH to grow and so smart institutional investors are seeing that, ” Urban noted. “ They ’ rhenium not going to create a more ESG [ Environmental, Social and Governance ] compliant crypto and that is driving institutions into such a degree that we may see more institutional money going into Ethereum than Bitcoin because of the wholly energy consumption angle. ” Ethereum is already the platform of choice for many decentralized applications ( dApps ) and chic contracts, and the blend is expected to further increase its adoption. When Will The Flippening ( a decimal point at which the marketplace value of ETH exceeds that of BTC ) Happen The cryptocurrency market is notoriously volatile, and predicting the future value of digital assets like Bitcoin and Ethereum can often feel like a inject in the dark. however, Urban has offered a timeline in which he believes Ether may overtake BTC as the dominant cryptocurrency. He said that while the ‘ flippening ’ is not at hand, he expects it taking position the “ soonest ” in the future 2-3 years. “ Ethereum is the copper, Bitcoin is the digital gold. It allows for the ecosystem to be built in so many ways, as do the early layer ones, ” he stated. While Ethereum ’ s approaching unite is not barren of concerns in terms of how it will impression its ecosystem, Bloomberg Intelligence ’ s senior commodity strategist, Mike McGlone, wrote in a recent eminence that Ethereum ’ s new POS consensus mechanism stir brings an top for the stick out. In fact, McGlone says he sees a 220 % spike for Ethererum, which leaves its native token trading above the $ 9K level. demand is increasing, supply is declining and # Ethereum ‘s position at the epicenter of the digitization of finance and money suggests further price taste. Ethereum — the denominator for NFTs and top chopine for tokenization — is becoming the collateral of the internet It should be noted that Ethereum has a few things going as a platform when compared to Bitcoin. For one, the net has a much more robust infrastructure than Bitcoin. Ethereum ’ s blockchain is more flexible and can be used to create decentralized applications ( dApps ) and smart contracts. In early words, the Ethereum network besides being programmable in that it allows apps like NFTs and the Metaverse to be build on top of it, acts besides as the nucleotide layer for the integral decentralized finance ( DeFi ) ecosystem. This functionality is not possible on the Bitcoin blockchain. second, Ethereum ’ sulfur fall through, Vitalik Buterin, is widely regarded as a visionary in the cryptocurrency space. He has systematically pushed the envelope when it comes to invention and has a solid track record of delivering on his promises. Third, Ethereum has a much larger and more active developer community than Bitcoin. This is important because it means that there are more people working on building new applications and services on Ethereum ’ south blockchain. Fourth, Ethereum is gaining increasing adoption from major corporations and institutions. A considerable phone number of Fortune 500 companies are already using Ethereum ’ s blockchain to build newfangled applications. finally, Ethereum has a much brighter future than Bitcoin when it comes to scaling. Bitcoin is limited by its stuff size, which means that it can lone process a limit number of transactions per second base. Ethereum, on the other hand, is actively working on a number of Layer 2s and rollup solutions that will allow it to drastically improve scalability and per second transaction process time capacity. While it remains to be seen whether Ethereum will ultimately overtake Bitcoin, there is no doubt that it has a bright future ahead. If it is able to continue to build on its strengths, it could one day become the universe ’ s most valuable cryptocurrency. Price Action BTC traded 2.8 % lower at $ 42,427 at press time. ETH was besides in the bolshevik, trade below the $ 3,200 score.

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