Still, Ethereum (ETH) is the second-ranked cryptocurrency right after Bitcoin. However, this could change, as growth statistics suggest.

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“ETH will overtake BTC by the end of 2022”

Bitcoin’s growth has slowed a bit in recent hours, but the second-ranked cryptocurrency by market capitalization is giving full throttle: Ethereum. Over the past seven days, ETH has gained more than 10%, then a few hours ago it broke through the $ 2,600 mark.

In the meantime, the coin has withdrawn slightly and is currently trading at 2,571 dollars (time of this article). For the pseudonymous top analyst Pentoshi (@Pentosh1), however, it is clear: Ethereum (to buy from eToro or Libertex) is heading for $ 2,881.14 – and then prices beyond that. The only hurdle: the support around 2.325, 09 dollars, should not fall. Pentosh1 bullish:

“ETH experiences the 11th green day in a row lmao”

He commented: “Dips are for sale”. The trader even assumes that Ethereum will move past Bitcoin: By the end of 2022 at the latest, Ethereum will be the number 1 cryptocurrency, Pentosh1 believes – and also gives some reasons why he is so bullish on Ethereum: for example, due to the growing institutional interest, because less ETH will be spent in the future and due to the success of NFTs and DeFi. Pentosh1:

“I believe that this is true. I think ETH will overtake BTC by the end of ’22, according to Marketcap. Issue goes down by 90% (starts August 4th), Goldman looks at its staking returns, NFTs DeFi, Revenue fees > BTC and biggest supply shock ever. Uptrend since 2019 and looks ready“

4 Statistics Highlight Ethereum’s Growth

In line with Pentosh1’s optimistic forecast, top analyst Spencer Noon also shows his more than 71,000 Twitter followers four statistics that illustrate Ethereum’s incredible growth:

  • 1. The Ethereum network is on the verge of breaking the limit of more than 500 million transactions this year.
  • 2. In 2015, no transaction fees were collected at all on Ethereum. in 2021, on the other hand, it is estimated that 3.5 million ETH will already be used for gas (equivalent to 8.4 billion dollars at current prices).
  • 3. Although the year has 5 months left, the number of ETH’s annual active addresses is already at a new all-time high (~30 million).
  • 4. Record numbers also for smart contracts, because: Ethereum is on track to reach 50 million implemented smart contracts by the end of the year.

In addition,: The US investment bank Goldman Sachs also assumes in a new report that Ethereum can overtake Bitcoin. Ethereum has the most “real usage potential” and can therefore become the number 1 by market capitalization, according to the bank. JP Morgan, another banking giant, also sees massive potential in Ethereum. Accordingly, Ethereum staking, as introduced with ETH 2.0, could become an important source of income for private and institutional investors.