The second largest cryptocurrency in terms of capitalization has already begun to overtake digital gold, said Alex Mashinsky, head of the Celsius Network cryptocurrency lending service, in a comment to Kitco.
“We manage about $ 17 billion in customer deposits and the number one dollar-denominated coin is Ethereum,” he said.
According to Mashinsky, assets will swap places in the capitalization rating by 2022 or 2023.
“Ethereum has already surpassed Bitcoin in dollar terms in terms of the total assets of the Celsius community. I think a broader market will follow us in the next year or two, ”added the head of the service.
Mashinsky suggested that the main trigger for the coming dominance of Ethereum will be the difference between the key use cases for digital assets.
According to him, bitcoin is used mainly as a store of value, and the second largest cryptocurrency in terms of capitalization is used for profitable farming.
Earlier, the Celsius Network announced an investment of over $ 200 million in digital gold mining in North America.
At the end of June, Mashinsky predicted a rise in the price of bitcoin to $ 160,000.
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