Bitcoin and Ethereum have risen above the level of competition with other cryptocurrencies

Jurien Timmer, an analyst at Fidelity Investments, said that bitcoin and ethereum have risen above the level of competition with other cryptocurrencies.

According to Jürrien Timmer, the new generation blockchains will not be able to compete with the BTC and ETH ecosystems, which are comparable to the tech giant Apple in terms of market share and level of dominance in the crypto industry.

«The bigger the ecosystem becomes, the more its valuation grows exponentially. Apple can be cited as an example: the more smartphones and other devices Apple sells, the more the company grows until it becomes so powerful that a giant gap is formed around it that cannot be bridged even if something much better than the iPhone is invented tomorrow,» Jurien Timmer shared his own point of view.

It is worth noting that according to the data for the last 30 days, the trading volume of the cryptocurrency bitcoin has doubled that of Apple. As of July 25, the average daily trading volume of BTC for 30 days amounted to $ 27.7 billion. At the same time, Apple’s average daily trading volume for the same period was $ 11.6 billion. Thus, despite the volatility in the crypto market, bitcoin’s trading volume is 2.3 times higher than Apple’s.