- Ethereum unseating Bitcoin will put utility tokens at the forefront, claims researcher.
- Utility tokens are already recording increased use cases.
With the expansion and growth of the cryptocurrency market, consumers are demanding cryptocurrencies of different kinds. Bitcoin has been the most dominant cryptocurrency. Most attribute the asset’s dominance to the fact that it led to the beginning of the inception of digital currencies.
Others have insisted that Bitcoin is simply highly valued because of its qualities. However, with utility coins like Ether, Cardano, Solana, etc., gaining mass adoption over the years, market players are collectively sharing that utility tokens are positioned to unseat the likes of Bitcoin, which solely functions as a currency.
Expanding on this talking point recently, was the pseudonymous “The Bearable Bull,” a popular cryptocurrency pundit who took to Twitter to assert that Ethereum will eventually surpass Bitcoin. This is an opinion that has been shared by many crypto proponents who are convinced that Bitcoin is more static, and that Ether has the design that will enable it to dethrone Bitcoin.
He proceeds to add that the overthrow will result in utility coins getting a lot of attention. Per his tweet, “Ethereum Will Pass Bitcoin. It’ll Be Great For All Of Crypto. The Flippening Will Bring More Eyes On Utility Coins. That’ll Be One Of My Favorite Days In Crypto History.”
The proponent’s points have been proven to be objectively valid for the most part of this year as the aforementioned utility coins have been outperforming most crypto assets. The likes of Ether and SOL have gained significant ground amongst institutional investors as their year-to-date value has surged significantly, with many surpassing Bitcoin and other top assets. These cryptocurrencies are expected to continue to surge as their use cases gain more attention.
Meanwhile, it is also important to keep in mind that while Ethereum is expected to unseat Bitcoin, other utility tokens are also expected to “kill” Ether, hence market players branding them the ‘Ethereum killers’.
In the near term however, Ethereum still remains highly promising as it continues to stay onward of Bitcoin. Explaining that a potential breakout could be recorded in the near term, one cryptocurrency analyst and researcher reveals that “Ethereum is continuing to outperform Bitcoin. ETH/BTC printed a big green candle today and remember it’s basically the altseason chart. When ETH/BTC breaks out, watch out, it will be totally nuts for altcoins.”