Can Ethereum (Eth) change Bitcoin in 2022? Messari’s Ryan Selkis says there is a 20% chance

In 2022, the chances of Ethereum (ETH) overtaking Bitcoin to become the largest cryptocurrency by market capitalization are pretty slim according to Messari’s Ryan Selkis. The CEO and founder of the leading on-chain data monitoring company stated that the probability of Ethereum “flipping” Bitcoin in 2022 was “maybe 20%.”

Explaining his views on the subject in Messari’s most recent Crypto thesis report for 2022, Selkis is quoted as saying;

I would say that the probability of a ‘sea change’ next year is maybe 20%, and not because ETH is money, no matter what Sotheby’s says. He stated, alluding to the recent addition of Ether to its payment options by the auction platform.

A 20% probability is still a possibility, but …

While Selkis has put his interest in this figure for various reasons he describes, he does not completely rule out “flippening” in 2022. According to, Bitcoin may continue to have the highest capitalization in the cryptocurrency market, as it is superior to Ethereum. when it comes to being “money.”

However, he considers the idea that Ethereum may have a chance to perform the Herculean feat “if” the cryptocurrency market values ​​the Ethereum network more than Bitcoin for its strength as the “world’s most unique user-owned computing platform.” . . «

Selkis sees the possibility of this developing as slim, as he agrees with two thoughts shared by BitMEX founder Arthur Hayes, who stated that: Ethereum couldn’t be the best virtual computer and the best money at the same time. ; and that Bitcoin, the largest currency network in the crypto world, was likely bigger than its largest virtual computer.

This stance contrasts with the expectations of some other analysts. Based on Goldman Sachs assessment, the price of Ether is likely to continue to grow at a faster rate than Bitcoin, as it has this year. The bank set a price target of $ 8,000 for Ether in the coming months and expects it to close the gap between itself and Bitcoin even as Ethereum goes on to be a proof-of-stake (PoS) network.

The chances of Ether flipping are even higher

Despite this, Selkis has pointed out that while Ether was looking to invest Bitcoin, it also had to watch its back or it could end up being flipped by other PoS blockchain networks. Selkis even argues that Ethereum is “a more attacking target than Bitcoin,” as the performance of other Layer 1 computing platforms has demonstrated. He notes that these “Ethereum killers” have already been extracting value from Ethereum, but major competitions for the dominance of the Bitcoins monetary network have nothing on the pioneer cryptocurrency.

There really is no credible somersault competition for Bitcoin other than Ethereum, but ETH also has to watch its back, ”the report noted. “Bitcoin’s dominance slipped from 71% to 42% this year. Bad. But ETH’s smart contract platform dominance has also slipped from 80% to 60%, and it could bleed additional value to its new accumulated Layer 2 ‘allies’ hitting the market in early 2022.

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The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication has no responsibility for your personal financial loss.

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Can Ethereum (Eth) change Bitcoin in 2022? Messari’s Ryan Selkis says there is a 20% chance

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