Ethereum’s [ETH] price change over the last couple of months has been immaculate. The altcoin grew from a low of $577 towards the end of 2020, all the way to a high of $2.7K. This price surge undoubtedly paved the way for an array of new investors. Despite its significant growth, the altcoin continues to remain below the world’s largest cryptocurrency, Bitcoin [BTC]. Pointing out that this would be the case throughout, Shark Tank’s star and Canadian businessman, Kevin O’Leary appeared on CNBC’s latest interview.
Ethereum Will Always Remain No.2
Bitcoin is quite often compared to gold as both these assets have similar characteristics. Its been over a decade since the first cryptocurrency [Bitcoin] was introduced to the world. The later years were followed by the emergence of several crypto assets. However, none of them ever came close to disrupting the king coin. The disparity between BTC’s current price of $54K and the price of any given altcoin is enough proof of the same.
Ethereum, albeit BTC’s dominance, managed to score a new all-time twice this week. The altcoin’s price rally was admired by many in the community. At the time of writing, ETH was trading for $2,763 as it was experiencing a small correction from its recent high of $2,797.97. This further caused the rise in ETH’s dominance to 15% and pushed BTC’s dominance to 47%. Santiment, a popular on-chain analytics platform tweeted about the same. The tweet read,
Noting the same and specifically speaking about Ethereum, O’Leary suggested that ETH would always remain “No.2” to Bitcoin.
“I just believe that to be the case. Bitcoin will always be the ‘gold.’ Ethereum will always be the ’silver.” And “that’s not a bad thing necessarily.”
Additionally, the Shark Tank star also added that Ethereum would be used as a “tracking and payment system.”
Furthermore, Ethereum’s price change has been lauded by many, the altcoin’s market cap didn’t fall back. ETH played a prominent role in bringing the overall crypto market cap back to $2 trillion. The altcoin’s market cap surged over $300 billion and even went on to surpass the payments giant, PayPal.