Mike Novogratz stated Ethereum could flip Bitcoin but Twitter CEO keeps rejecting ETH as the London network upgrade goes live
While Galaxy Digital CEO Mike Novogratz expressed support for Ethereum, saying that ETH has the ability to flip Bitcoin, Twitter CEO Jack Dorsey is not budging on Bitcoin maximalism.
Ethereum may become the biggest cryptocurrency, flipping Bitcoin
In an interview with Bloomberg on June 30, Galaxy Digital CEO Mike Novogratz said that the Bitcoin community needs to do a better job of educating lawmakers. At the same time, he thinks that Ethereum has the ability to turn Bitcoin upside down someday.
— Bloomberg Technology (@technology) June 30, 2021
“I think Ethereum, most likely, become the second-biggest or, maybe, the biggest cryptocurrency one day”, he added that Ethereum has a very different use case than the leading cryptocurrency.
Bitcoin is a beautifully designed store of value, its biggest competitor can serve as the base layer for Web 3.0. But Novogratz thinks that’s not enough. Besides, Novogratz also pointed out that Ethereum is facing stiff competition from ecosystems like Solana, Terra, and others. They are often referred to as Ethereum-killers.
Referring to the future forecast for Ethereum, the crypto mogul said that there will be more things built on top of Ethereum or other platforms that will be very noticeable in the next 5 years.
Talking about the current market situation, Novogratz said that the market correction is obvious, the crypto revolution is still in its early stages. Therefore, he stated that no one really thinks that cryptocurrencies will disappear.
Novogratz believes regulation will make the industry even stronger. And as mentioned at the beginning, he also said that the crypto community must do a better job of educating lawmakers after yesterday’s congressional hearing.
Contrary to Mike Novogratz, Twitter CEO keeps rejecting Ethereum
When a Twitter user suggested that Twitter CEO Jack Dorsey would soon buy into Ether, he simply said, “No.”
— jack (@jack) June 30, 2021
Although the crypto community is constantly pressuring Dorsey to explore other cryptocurrencies, it seems that the billionaire remains true to his Bitcoin maximalism.
Also at Bitcoin Conference 2021, Dorsey – the head of two public companies – said that Bitcoin is the most important thing in his life. He even went as far as to say that he would quit Twitter and Square if BTC needed it.
Earlier this month, Dorsey said that it was “only a matter of time” until Twitter integrates Bitcoin’s Lightning Network.
It seems that either way, Bitcoin and Ethereum still have a lot of support from billionaires, large institutional investors. And there is still a rough road ahead for these two cryptocurrencies to prove themselves.
Ethereum’s London network upgrade goes live on Goerli testnet
According to EthHub founder Anthony Sassano, the much-anticipated London upgrade went live on the Goerli testnet a few minutes ago.
The London network upgrade (EIP-1559) is now live on the Goerli testnet ?
Watch ETH being burned here: https://t.co/fQCH5kDMNJ
— Anthony Sassano Ξ ?? (@sassal0x) July 1, 2021
The upgrade was deployed at block number 5062605 and comes after the upgrade being activated on the Ropsten testnet on June 24 at block number 10499401. Furthermore, the latest and previous deployments were matched. with the release schedule given by the Ethereum Foundation in mid-June.
The next step in the same step will be the implementation of the London upgrade on the Rinkeby testnet on July 7. A block will be set for activation on the Ethereum mainnet as soon as the upgrade has been successfully activated on the testnets.
The London upgrade includes a range of EIPs, including 1559, 3198, 3529, 3541, and 3554, with the latter meant to delay the difficulty bomb until the 1st of December since the Proof of Stake transition is not ready. One of the most controversial code changes bundled into London is Ethereum Improvement Proposal (EIP) 1559. EIP 1559 will radically change the fee dynamics of Ethereum by introducing a minimum fee to all on-chain transactions called the base fee.
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