Ethereum (ETH) recently took a powerful step, gathering 22% last week to reach $ 4,300. This increase has pushed its market capitalization over $ 520 billion, exceeding global giants like Mastercard, Netflix and Exxon Mobil.
The co-founder of Ethereum, Joseph Lubin, publicly predicted that ETH could exceed the Bitcoin market capitalization (BTC) over the next year, rekindling discussions on long-awaited “Flippenage”.
How Ethereum fills the gap on bitcoin
A major factor stimulating the ascent of Ethereum is the increase in capital flow in ETH compared to the BTC. The data on the chain show that net capital inputs in Ethereum have now exceeded Bitcoin for the first time this market cycle. Crypto analyst Ali Martinez considers this as a clear sign that the Altcoin season has started. Large investors and businesses buy huge amounts of ETH.
The institutional interest is booming, with $ 158 million of ETH bought over -the -counter (OTC) via Galaxy Digital in just 14 hours. In addition, whale investors accumulate large amounts of ETH, such as an address that bought more than 65,000 ETH in two months for $ 281 million and currently holds more than $ 111 million in unrealized gains.
Ethereum also sees recording inputs in the ETHER of the Spot ether, with $ 461 million entering into a single day, exceeding ETF entries of $ 404 million Bitcoin. The best players like Blackrock, Fidelity and Grayscale conduct these investments. The open interest of term contracts on Ethereum has increased to around 51.6 billion dollars, reflecting strong confidence of traders. Interestingly, Ethereum has taken a new step by exceeding 121 million ETH in circulation, giving the vibrations bulls to traders.
Reasons why Ethereum could return Bitcoin
The edge of Ethereum on Bitcoin lies in its wider utility. Unlike Bitcoin, which is mainly considered to be digital gold, Ethereum blockchain takes care of intelligent contracts that allow decentralized finances (DEFI), non -fastible tokens (NFTS) and token assets. This makes Ethereum not only a cryptocurrency, but also of the backbone of a large part of the blockchain ecosystem.
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Institutional adoption increases while companies like Sharlink Gaming and Bitmin Technologies explore the holding of ETH in their treasury vouchers. Analyst Michaël Van de Poppe describes the market as “extremely bullish” for the ETH, although it is currently blocked almost a level of key resistance around $ 4,300. If Bitcoin corrects, ETH could go to the fork from $ 3,700 to $ 3,800, which remains a solid accumulation zone.
Glassnode indicates that the average profit of the profit of 7 days of ETH culminated at $ 771 million a day in July and remains high at $ 553 million per day, mainly due to short -term investors, forcing gains, feeding the current rally.
To exceed Bitcoin, the price of Ethereum must reach around $ 20,000, or about four times its current level. Although this is ambitious, the accelerated adoption of Ethereum, the strong institutional demand and the expansion of use cases position it well for a potential “Flippé” in the year.
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