Celsius CEO Says Ether is Overperforming BTC

by in Cryptocurrency News

Ether Bitcoin Celsius

During a recent interview with Kitco News, Celsius Network CEO Alex Mashinsky shared his views on the two largest cryptocurrencies: Bitcoin and Ethereum.

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Mashinski finds that the possible scenario when Ether gets ahead of BTC has already begun. Talking about Celsius, he noted that the flippening has already taken place there. The platform manages around $17 B in deposits and the leading coin kept in dollar terms is Ether. Mashinski finds this will also become true for the wider market.

Also, he noted both cryptos will see more adoption eventually. Celsius CEO believes Ether's market cap will overtake the one of BTC by 2022 or 2023.

The reason for his thinking so is that ETH and BTC have different use cases. According to Mashinsky, Bitcoin's main use case is the store of value, while Ether's use cases are yield farming, staking, and locking up crypto in return for rewards.

Mashinski expects the BTC price to go up after the China situation clears up. He assumes it can reach $140000 to $160.000 then fall below $100.000 and trade at $80.000-$90.000. On average BTC triples every year.

As for Ethereum, Mashinsky says the price depends on the performance of DeFi, but ETH reaching $4000-$5000 is also expected.

Currently, Bitcoin trades at around $34.100 with a market cap of above $712.8 B and a market dominance index of 44.55%.

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Ether's price is $2270, market cap $264 B and dominance index 18.51%.