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XRP, LTC, BSV to Leave Top-10 as DeFi Assets Rise: Analyst Qiao Wang

News
Mon, 06/22/2020 - 10:30
Vladislav Sopov
Crypto investor and researcher Qiao Wang expresses doubts about DeFi asset valuation but foresees that they may challenge the superiority of some crypto behemoths
XRP, LTC, BSV to Leave Top-10 as DeFi Assets Rise: Analyst Qiao Wang
Cover image via twitter.com
Contents

Startup investor and advisor Qiao Wang, who recently left the Messari analytical team, predicts that the current landscape of the Top-10 cryptocurrency assets by market capitalization may be on borrowed time.

Overvalued challengers

Mr. Wang admits that he is treating the ongoing euphoria over the decentralized finance sector and its assets as overhyped. Many of the DeFi native coins may be heavily overvalued.

Qiao Wang says DeFi assets are mostly overvalued
Image via Twitter

However, he can hardly wait for the revolution in the list of Top-10 of cryptocurrencies by market capitalization. As DeFi native and governance assets may break into this ranking, some of its veterans could be forced to make way for them.

The analyst and investor even mentioned three of the first assets that could find themselves in a new position in the ranking. According to him, XRP, Litecoin (LTC) and Bitcoin SV (BSV) may be replaced by surging DeFi tokens very soon.

Commenters on his tweet also added Bitcoin Cash (BCH) to the list of the condemned behemoths of the blockchain sector.

Insane road to Top-10

At press time, not one asset from the DeFi sector is currently ranked among the Top-10 cryptocurrencies by market capitalization. Right now, a product needs to be valued at over $2.14B to join this elite club, according to statistics from the independent platform Coingecko.

The most likely contender to break into this list is Compound (COMP), the governance and rewards asset of the Compound autonomous protocol. As covered by U.Today Crypto News, this asset has been experiencing an enormous rally with triple-digit daily gains.

Yesterday, it took only 24 hours for this asset to surpass Ethereum Classic (ETC), Dash (DASH), IOTA (MIOTA) and VeChain (VET) in terms of market capitalization.

Its most popular competitor, Maker (MKR) is on the brink of leaving the Top-30 of this ranking. Its capitalization is now 65% lower than that of Compound (COMP).

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)