Omni Network Co-Founder Says XRP Will Flip Ethereum (ETH). Here’s why

Austin King, a Harvard-educated computer scientist and co-founder of the Omni Foundation, has raised doubts about Ethereum’s ability to maintain its dominance in the cryptocurrency market.

In an interview with the Good Morning Crypto podcast, King suggested that XRP has a strong chance of overtaking Ethereum in market capitalization. Based on years of experience working with both blockchains, his perspective stems from concerns about Ethereum’s structural weaknesses and XRP’s growing momentum.

Challenges Facing Ethereum’s Market Position

Ethereum has long been regarded as the second-most important cryptocurrency, but King believes that position is becoming unstable. He pointed out that Ethereum initially benefited from being a deflationary asset, meaning its total supply decreased over time, but this has changed.

Ethereum’s reliance on Layer 2 scaling solutions has significantly altered its fundamental characteristics. Some of these Layer 2 solutions function on centralized infrastructure rather than operating as fully decentralized networks.

King suggests that this shift has weakened Ethereum’s credibility, raising concerns about its long-term viability. He does believe ETH can become deflationary again.

Beyond technical concerns, King also noted Ethereum’s underwhelming price performance. While Bitcoin has entered a price discovery period, Ethereum has yet to surpass its previous highs, even after ETF approval in 2024.

This stagnation has led many investors to reconsider Ethereum’s place in the market, especially as competing assets gain ground. This underperformance has also pushed many to suggest that XRP can flip ETH

XRP’s Strengths as a Contender

King highlighted XRP as a major competitor to Ethereum, citing its efficiency and well-defined use case in financial transactions. Unlike Ethereum, XRP’s total supply is fixed at 100 billion tokens.

Although Ripple releases a controlled amount of XRP into circulation each month, the supply remains limited, preventing inflationary risks.

XRP’s technological design is another factor that King sees as an advantage. The network is built for fast and cost-effective transactions, making it well-suited for tokenized assets and cross-border payments.

These qualities have contributed to XRP’s significant price increase in recent months. The digital asset recently rose to a multi-year high of $3.39, 565.75% higher than its November opening price of $0.5092.

XRP has been gaining ground on ETH and is currently ranked third by market cap. Analysts are already spotting signs of a renewed bull run and the digital asset could go on a massive rally soon.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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