Analyst Tips Ethereum To Rival Bitcoin In The Long Run

Crypto market pundit Nick Tomaino has shared an interesting take on Ethereum’s potential to match up with Bitcoin as the most valuable cryptocurrency. The web3 commentator and founder of prominent investment firm 1confirmation has elucidated on Ethereum’s features, providing a compelling case on why the altcoin could soon match up to Bitcoin’s social and market status.

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According to Tomaino in an X post on May 10, Bitcoin can be described as the first decentralized currency or store of value created for the people by the people. The analyst explains that the asset’s ascent to a $2 trillion value was based on this premise emanating from “grassroots ethos and belief” among users. 

However, Tomaino believes there is an ongoing shift in Bitcoin’s neutrality and decentralization due to the influx of institutional investors in recent years. The 1confirmation founder said: 

Store of value based on trust in math rather than trust in people is world-changing, but BTC is now the institutional asset of choice for large companies and governments. One entity owns over 2.5% of it.

Tomaino also criticized Bitcoin’s limitations in smart contract programmability, thereby limiting the amount of useful applications it can offer the populace. 

On the other hand, the crypto analyst has described Ethereum as a credibly neutral cryptocurrency and store of value with no growing concentration in the hands of select investors. Tomaino also applauds Ethereum’s extensive blockchain utility as a developer platform facilitating other applications, including stablecoins, decentralized finance, prediction markets, and NFTs, among others. 

According to the 1confirmation founder, all the new crypto use cases that have contributed massively to the space’s growth in the past ten years are based on the Ethereum blockchain.

Tomaino backs the continuous growth of these use cases, which he believes will drive billions to the crypto space, increasing ETH’s scarcity and strengthening its case as a store of value to rival Bitcoin’s dominance and market attraction. 

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Nick Tomaino added:

Maximalists say there will be only one credibly neutral, internet native store of value. They are dead wrong. 

There will be many but there are only 2 viable options today: BTC and ETH

ETH Price Prediction

At the time of writing, Ethereum trades at $2,545 following an 8.68% gain in the past day. Over the last month, the altcoin has grown by 64.19%, indicating a decisive market capture by the ETH bulls.

Interestingly, OKX Partner and popular crypto pundit Ted Pillows has backed ETH to maintain this uptrend, which has come following an upswing from $1,400. Pillows is predicting ETH to maintain an upward trajectory with a price target of $4,000 by Q3 2025.

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