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Top Analyst Predicts Ethereum (ETH) is More Bullish Than Bitcoin (BTC)

The widely followed crypto analyst and influencer Lark Davis says that Ethereum (ETH) is outperforming Bitcoin (BTC) and having a more bullish scenario as the supply squeeze intensifies.

The trader kicks off the video by updating a piece of news that Etherem has overtaken Mastercard in terms of market capitalization.

Besides that, Davis cites the recent Coinbase Q2 report in which shows a notable figure, saying that Ethereum has flipped Bitcoin in trading volume, and become the most traded asset on Coinbase.

top-analyst-predicts-ethereum-eth-is-more-bullish-than-bitcoin-btc

Davis then gives out the main reason for this flippening:

“The meaningful growth in Ethereum trading volumes, surpassing Bitcoin trading volumes on Coinbase for the first time driven by growth in the DeFi and NFT ecosystems, where Ethereum is an important underlying blockchain, and increased demand driven by ETH2 staking product.”

The crypto KOL continues to explain his bullish on Ethereum over Bitcoin as he points out Ether held on centralized exchanges hits 3-year low. In particular, the proportion of ETH on centralized exchanges (CEXs) dropped to 9.4% of the total supply. 

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