“ETH Can Flip BTC In A Year”, Claims Co-Founder Joseph Lubin As Ethereum Overtakes Mastercard And Netflix

Ethereum’s bold move to $4,300 and 21% weekly rally has taken its market cap over $520 billion, overtaking top corporate giants like Mastercard, Netflix, and Exxon Mobil. This makes ETH the 22nd largest asset in the market following the strong ETH price rally in July. Market analysts are hopeful of further upside, as ETH challenges Visa next.

Can Ethereum Outperform Bitcoin?

In a CNBC interview last week, Ethereum co-founder Joseph Lubin, stated that ETH could overtake BTC in market capitalization within “the next year or so,” citing the influence of treasury companies. At Bitcoin’s current market cap, ETH would need to trade near $20,000 to achieve the flip.

In another milestone, crypto analyst Ali Martinez reported that ETH’s net capital change has surpassed BTC, calling it the clearest signal yet that altcoin season has begun.

Market analysts believe that more and more capital will continue to flow from BTC to ETH, as the altcoin season catches steam. The ETH price is currently flirting with $4,300 level, with analysts predicting an upside to $5,000 in the near term. Inflows into spot Ether ETFs have also gathered pace last week. As recently reported by Coingape, Lubin is not the only one bullish on ETH, recently Eric Trump warned short sellers publicly not to sell.

Ethereum Challenges Visa After Overtaking Mastercard, Netflix

The ETH price has witnessed a strong rebound from $3,500 last week, in a strong breakout past the $4,000 resistance. This strong ETH bullish momentum helped the altcoin flip corporate giants like Mastercard, Netflix, and Exxon Mobil. With $520 billion market cap, ETH is already in the top 25 list of global assets.

With another 25% rally, Ethereum could flip Mastercard competitor Visa, as per data by Companies Market Cap. Market analysts like Arthur Hayes are hopeful of an ETH price rally to $10,000, amid the latest corporate race for ETH treasury led by Sharlink Gaming and Bitmine Technologies.

Now, just a twofold increase in Ethereum price from current levels would push its market capitalization above that of major global corporations, including Visa, JPMorgan, Walmart, and Berkshire Hathaway. This would also put ETH in the list of trillion-dollar assets by market cap, and among the top 15 global assets.

ETH Whale Activity on the Rise

Amid the strong upside last week, ETH whales are on a heavy accumulation spree. As per on-chain data, more than $158 million worth of Ethereum (ETH) was purchased over-the-counter through Galaxy Digital in the past 14 hours.

Furthermore, the whale address 0x3952 withdrew 8,745 ETH, worth $37.6 million, from Binance an hour ago. Over the past two months, the address has accumulated a total of 65,001 ETH, worth $281 million, from the exchange at an average price of $2,611, currently holding more than $111 million in unrealized gains.

Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.