{"id":131365,"date":"2021-07-07T00:42:42","date_gmt":"2021-07-07T00:42:42","guid":{"rendered":"https:\/\/precoinnews.com\/?p=131365"},"modified":"2021-07-07T00:42:42","modified_gmt":"2021-07-07T00:42:42","slug":"ethereum-eth-is-set-to-surpass-bitcoins-market-capitalization-says-celsius-ceo","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/ethereum-eth-is-set-to-surpass-bitcoins-market-capitalization-says-celsius-ceo\/","title":{"rendered":"Ethereum ($ETH) Is Set to Surpass Bitcoin\u2019s Market Capitalization, Says Celsius CEO"},"content":{"rendered":"

The CEO of cryptocurrency lending platform Celsius, Alex Mashinsky, has revealed that Ethereum is already \u201cflippening\u201d bitcoin when it comes to total U.S. dollar amount invested by its firm\u2019s users, and believes the trend will expand to the wider market.<\/p>\n

During an interview with Kitco News, Mashinsky argued that Ethereum\u2019s ether has already surpassed bitcoin on Celsius as the firm manages \u201cabout $17 billion in deposits\u201d and \u201cthe number one coin held in dollar terms is Ethereum.\u201d The CEO expects the trend to keep on going, to the point ETH will surpass Bitcoin\u2019s market cap by 2022 or 2023. He said:<\/p>\n

The flippening already happened. Ethereum already surpassed Bitcoin in dollar terms as the total holdings of the Celsius community, and I think that the broader market will follow it in the next year or two. We will see that flippening happening also in the broader market.<\/p>\n

The \u201cflippening,\u201d it\u2019s worth noting, refers to the hypothetical scenario in which Ethereum flips Bitcoin and becomes the number one cryptocurrency. While it\u2019s most often measured by market capitalization, ETH supporters measure it in various ways including transactions per day and value moved on the network.<\/p>\n

In the interview, Mashinky also suggested that behind the flippening would be the different use cases both BTC and ETH have. Per the CEO, Bitcoin\u2019s primary use case is being a store of value, while Ethereum\u2019s major use case is yield farming.<\/p>\n

https:\/\/youtube.com\/watch?v=1qyFUxxVQVU%3Ffeature%3Doembed<\/p>\n

Yield farming, he said, is an \u201capplication that just has a broader user base\u201d and as such over time he sees \u201ca broader adoption of Ethereum than of Bitcoin.\u201d As CryptoGlobe reported, after the cryptocurrency market crash that saw the price of bitcoin plunged from a near $64,000 all-time high to $29,900 before it recovered to $36,000, open interest for bitcoin has dropped significantly, while for Ethereum it surged, according to CryptoCompare\u2019s May 2021 Exchange Review.<\/p>\n

Mashinky has, in an earlier interview, revealed he believes the price of bitcoin is going to surge to $160,000 this year. Per his words, the market is now less leveraged than what it was before the crash, and is set to build up momentum.<\/p>\n

DISCLAIMER<\/strong>
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n

IMAGE CREDIT<\/strong>
Featured image via\u00a0Pixabay<\/em><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The CEO of cryptocurrency lending platform Celsius,<\/p>\n","protected":false},"author":3,"featured_media":131364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"yoast_head":"\nEthereum ($ETH) Is Set to Surpass Bitcoin\u2019s Market Capitalization, Says Celsius CEO - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/altcoins\/ethereum-eth-is-set-to-surpass-bitcoins-market-capitalization-says-celsius-ceo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum ($ETH) Is Set to Surpass Bitcoin\u2019s Market Capitalization, Says Celsius CEO - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"The CEO of cryptocurrency lending platform Celsius,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/altcoins\/ethereum-eth-is-set-to-surpass-bitcoins-market-capitalization-says-celsius-ceo\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-07T00:42:42+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/Ethereum-ETH-Is-Set-to-Surpass-Bitcoins-Market-Capitalization-Says-Celsius-CEO.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/altcoins\/ethereum-eth-is-set-to-surpass-bitcoins-market-capitalization-says-celsius-ceo\/\",\"url\":\"https:\/\/precoinnews.com\/altcoins\/ethereum-eth-is-set-to-surpass-bitcoins-market-capitalization-says-celsius-ceo\/\",\"name\":\"Ethereum ($ETH) Is Set to Surpass Bitcoin\u2019s Market Capitalization, Says Celsius CEO - 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