The predictions about Ethereum overtaking Bitcoin as the top coin in the cryptocurrency space are not a new proposition. Keeping up with the narrative, co-head of the Galaxy Digital Trading Jason Urban reiterated the same theory. He was speaking to Kitco News when he talked about considering factors like innovation and commercial adoption of Bitcoin and Ethereum.
He put special emphasis on Goldman Sach’s Ethereum fund and claimed that as time passes, people are getting more educated about the cryptocurrency market. He further explained that the knowledgeable crypto users value smart contracts that are available on layer one ecosystem. He further explained that Ethereum could be considered copper while Bitcoin is digital gold.
PoS-Based Cryptocurrencies will Grow in Future
Jason Urban recently told the media that Ethereum CoreDevs are now working on merging the network that will shift the network from PoW to PoS consensus model. He further explained that there are qualities of a blockchain network like scalability that have gained more popularity among investors.
He further explained that the high power consumption demands Bitcoin mining call for greater expenditures for commercial investors. Citing the aforementioned factor, Urban claimed that smart institutional investors are leaning towards Ethereum since there are not going to be better ESG compliant blockchain networks coming to the market any time soon.
Urban is not all bleak on the future of the Bitcoin network. He claimed that the soonest Ethereum flippening can take at least 3 to 2 more years. Speaking about the price projections for the year-end of the Ethereum token, he claimed that factors like Federal Reserve policies, inflation ratios, and the geopolitical situation of the world could make a visible difference.
He said that before the Ukraine war, he was optimistic about Bitcoin reaching $100K and Ethereum making it to $7K per unit. He also claimed that most people are unaware of the benefits of cryptocurrencies since they are not aware of the advantages that come with blockchain technology. He also claimed that there is a lot of utility possible from this ecosystem that is still a wanton of discovery.