ETH is only 0.06123709 BTC today, it's market cap is $266,071,417,492 with a supply of 115,986,120 ETH / infinity, which begs me to ask, what is the supply limit of ETH?
There are 402,753 ERC20 Token Contracts (with unknown quadrillions of tokens), and 11,478 ERC-721 (NFT) Token Contracts. ETH is $2,298.47 and BTC is $37,535.90 with $702,428,778,757 Market cap, and a fixed supply of 18,713,700 / 21m Bitcoins. These numbers come from CoinGecko and Etherscan.
My point however is this... if there ends up being more than 702b in ETH and say, 266b in BTC, does that mean the price of ETH will be higher than BTC? I am not so sure.
I think that the price of ethereum will never be higher than the price of bitcoin. Even to buy ethereum some people need bitcoin to do so. Most of other crypto use bitcoin to trade. Almost all and even maybe all exchanges use bitcoin as a main currency. Fees are lower in bitcoin and fees in ethereum are going higher and higher. The syply is much bigger of ethereum, so the inflation should be higher. Bitcoin is limited to 21 million, so it will cost crazy when those 21 million will be mined. Now, whales decided to dump it to buy more, they know the potential. I never lost my faith in bitcoin. Compare it to 5-6 years ago and look at it now. It was about $600 and hit 60k. It's a crazy +1000% !
A lot. When those whales decide to earn big profit again, they will push it tothe top. People who invested $697,461,307,868 in bitcoin today aren't playing games ! They know what they are doing !
That outcome, if it ever happens, is very far away. Major shift would need to occur. The market cap can flip much quicker.
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Very wise comment !
Perhaps but it is more of a question.
ETH is only 0.06123709 BTC today, it's market cap is $266,071,417,492 with a supply of 115,986,120 ETH / infinity, which begs me to ask, what is the supply limit of ETH?
There are 402,753 ERC20 Token Contracts (with unknown quadrillions of tokens), and 11,478 ERC-721 (NFT) Token Contracts. ETH is $2,298.47 and BTC is $37,535.90 with $702,428,778,757 Market cap, and a fixed supply of 18,713,700 / 21m Bitcoins. These numbers come from CoinGecko and Etherscan.
My point however is this... if there ends up being more than 702b in ETH and say, 266b in BTC, does that mean the price of ETH will be higher than BTC? I am not so sure.
I think that the price of ethereum will never be higher than the price of bitcoin. Even to buy ethereum some people need bitcoin to do so. Most of other crypto use bitcoin to trade. Almost all and even maybe all exchanges use bitcoin as a main currency. Fees are lower in bitcoin and fees in ethereum are going higher and higher. The syply is much bigger of ethereum, so the inflation should be higher. Bitcoin is limited to 21 million, so it will cost crazy when those 21 million will be mined. Now, whales decided to dump it to buy more, they know the potential. I never lost my faith in bitcoin. Compare it to 5-6 years ago and look at it now. It was about $600 and hit 60k. It's a crazy +1000% !
BTC only has to 3x from here to be $112,035.
What are the chances that will happen?
https://seekingalpha.com/article/4187726-bitcoin-16000-to-28000-year-end
A lot. When those whales decide to earn big profit again, they will push it tothe top. People who invested $697,461,307,868 in bitcoin today aren't playing games ! They know what they are doing !