Cryptocurrency

Famous Analyst: This Altcoin Will Overthrow Bitcoin

The well-known cryptocurrency trader and host of the Coin Bureau talks about why he thinks that among altcoin projects, Ethereum (ETH) has a better chance of reaching a larger market cap than Bitcoin (BTC). In a new image, the pseudonymous analyst known as Guy tells his 1.17 million subscribers that the decentralized finance (DeFi) space has the potential to attract investors looking for returns superior to traditional financial instruments.

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What sets ETH apart from other altcoin projects?

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Given that DeFi is heavily dependent on Ethereum, the analyst says that the likely increase in the adoption of decentralized finance protocols will give ETH momentum to become the largest cryptocurrency on the market. The analyst says the potential trigger could be Ethereum or other smart contract platforms that are undergoing expected updates to become cheaper and more efficient.

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Once these updates are complete, demand for these smart contract cryptocurrencies will skyrocket for one reason: DeFi. The returns you can find with even the easiest DeFi protocols are currently much higher than any central financial asset can offer you. Investors, large and small, are feeling the pressure mainly from low interest rates and high inflation. These pressures make any random return below 5-7% unproductive for them. That’s why institutional investors are piling on DeFi.

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How will Ethereum surpass Bitcoin?

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Cryptocoin. The crypto phenomenon, which is covered by com and closely followed, says that Ethereum has good luck in overtaking Bitcoin, and also indicates a catalyst that can affect this process completely. The pseudonymous analyst known as Guy says:

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While Bitcoin has just recovered from the hash rate crash, Ethereum seems relatively unaffected. And its decentralized financial ecosystem has remained perfectly stable. I’m sure institutions also enjoy having the word on Ethereum 2.0 by staking ETH, which is currently available at a bank in Switzerland. Due to these and other factors such as general user adoption, it is very possible that we will see Ethereum overtake Bitcoin by market cap when the next bull run arrives. This is essentially guaranteed if Ethereum gets a (traded fund) before Bitcoin, and apparently that could happen.

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At the time of writing, multiple Ethereum exchange-traded funds (ETFs) have been submitted for registration with the US Securities and Exchange Commission (SEC), but none of them have been explicitly approved now. The analyst, hosted by Coin Bureau, suggests that although there are no random confirmation announcements, it is likely that one of the applications has already been approved.

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Now, presumably this is just a wish, but I think the problem is not ‘if’ but ‘when’.

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