According to Fred, the grand flippening will come as a result of various issues, some bedeviling the Bitcoin network and new developments which seek to upgrade Ethereum\u2019s network in 2022.<\/p>\n
In the past years, Ethereum has undergone a series of upgrades aimed at fully transitioning the network from a Proof of Work (POW) to Proof of Stake (POS) consensus in what will now become ETH 2.0<\/p>\n
Earlier in the week, the ETH 2.0 Beacon chain successfully launched with calls for the community to test it ahead of the \u201cMerge\u201d which will see an end to energy-intensive mining, slashing Ethereum’s energy consumption by 99%.<\/p>\n
Fred believes that the merge which precedes the rollout of shard chains will attract millions to the network, bringing a ton of liquidity which translates into a parabolic growth of the network’s market capitalization which is currently $400 billion short of toppling bitcoin’s.<\/p>\n
\u201cEthereum\u2019s merge in 2022, combined with the understanding that productive assets must be worth more than non-productive assets, make this a fairly obvious prediction,\u201d <\/em>he says.<\/p>\n In the past, Bitcoin maximalists have come under fire from quarters who believe that they have nothing to support their pro-Bitcoin arguments apart from pumping price. Fred equally refers to their reliance on the cryptocurrency\u2019s \u201ccapped supply as nothing more than a marketing <\/em>meme\u201d.<\/p>\n \u201cIf you look at the greater crypto market, the misallocation is even crazier with XRP or the ghost chains and zombie chains with billion dollars of market cap and no users. Not to mention the hordes of outright scams, including more than a few in the top 25 crypto market caps,<\/em>\u201d he adds.<\/p>\nBitcoin Still Stuck In The Mud<\/strong><\/h2>\n
L2 Rollups Pivotal To ETH 2.0 Market Cap Growth<\/strong><\/h2>\n
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