Ethereum may surpass Bitcoin in 2024

In 2024, Ethereum ETH $3,419.11 Bridged Ether (StarkGate) -0.25% Market capitalization $0.31 billion VOL. 24 hours $4.51 billion may surpass bitcoin ETH $3,419.11 Bridged Ether (StarkGate) -0.25% Market capitalization $0.31 billion VOL. 24 hours $4.51 billion in terms of price growth, according to Andre Dragos, Head of Research at ETC Group.

According to the analyst, «technological advances and the unwavering position of ether as a leading smart contract platform will serve as the fundamental basis for the leading altcoin’s powerful jump.» The expert also noted that in 2023, the second largest cryptocurrency by capitalization lagged behind digital gold in terms of price growth.

«ETH has been underperforming BTC over the past 12 months. However, ethereum may surpass bitcoin in the next 12 months,» Dragos emphasized.

The report also states that the «deflationary burn mechanism» introduced in August 2021 through the implementation of EIP-1559 within the London hard fork will contribute to the growth of the Ethereum price.

The decreasing supply of coins combined with attractive staking yields can lead to the so-called flipping, which is the superiority of ether over bitcoin in terms of market capitalization.

«Traditional investors can consider staking income as an analog of stock dividends,» the expert noted.

As a reminder, a crypto strategist known as The Crypto Dog recently named a competitor to the main altcoin that could grow significantly in 2024. According to the crypto expert, despite the fact that Near (NEAR) goes unnoticed by the lion’s share of crypto users, the token is expected to see a big jump in market capitalization.