Will Ethereum overtake BTC in the future? This is a question that many crypto enthusiasts are asking. Ethereum has proved to be a strong digital coin that underwent significant changes in the past. These changes turned Ethereum into a crypto powerhouse.
We are talking about ‘sharding‘ and ‘proof of stake‘.
Sharding is a process in which the Ethereum network splits into ‘shard chains’. These chains split the load of the network and increase the number of transactions per second.
Proof of stake means that the ‘validators’ in the ETH network who validate the ETH transactions are chosen based on the number of staked coins they have; in the past ‘proof of work’ required people to solve cryptographic puzzles to get a ‘reward’ which was a more complex process.
According to the Standard Chartered Bank, Ethereum could reach $8000 by the end of 2026.
Geoff Kendrick, the Head of Crypto Research predicts that Ethereum is going to expand in the gaming industry and as a cryptocurrency. He also says that more and more businesses are going to use Ethereum’s network to build their empires. (which will increase ETH’s value even more)
This 400% increase could overtake Bitcoin easily. By the end of 2026, Ethereum could cost a wooping $35.000 which will put the coin at the top in the crypto world.
Doubts about Ethereum’s future on the market
Crypto analyst, Benjamin Cowen has doubts about Ethereum’s progress as a cryptocurrency. He says that ETH has to hit a lower regression band before reaching new sustainable highs. Ethereum is currently priced at $1.563 but that is going to change, Cowen says. Ethereum’s value could drop to $800, which is good. The analyst says that this decrease could lead to more powerful and sustainable growth for the crypto.
Conclusion
It’s not sure whether Ethereum is strong enough to overtake Bitcoin by 2026. However, ETH enthusiasts need to prepare for a dip in its value, as per the bear market’s rule. But as with all market predictions in cryptocurrency, take everything you hear with a grain of salt.
Author’s bio
Marlena Bontas is a freelance writer with a passion for health, technology and mental wellness. She has an MA in Psychology from the University of Helsinki and is currently travelling. Connect with her on Instagram at @marlenaeva