Ethereum is set to become the dominant cryptocurrency according to Goldman Sachs

A report by Goldman Sachs gives Ethereum First in the Crypto Rankings. Ethereum would be the cryptocurrency with the most interest in the entire crypto asset market. It is the one that could become a real store of value. It is in a note to its clients that Goldman Sachs published the results of a study on the cryptocurrency market. And this, in the context of inflation and financial changes that we currently know.

Among all the cryptocurrencies available, ether is the one that seems the most promising. In a note published Tuesday, the famous investment bank Goldman Sachs warns that ETH could overtake bitcoin in the ranking of cryptocurrencies. At issue is the particularly rich and developed ecosystem built on the Ethereum blockchain.

The analysis continues on the differences between Bitcoin and Ethereum. The advantage of Bitcoin is mainly a question of popularity notes this one. But this is not enough to replace the lack of utility and uses of the currency. Unlike its rival, Ether has many applications, especially smart contracts. This is what could really shake up the established order and elevate Ether to the number one spot.

However, while Ethereum and other cryptocurrencies play a protective role in times of inflation, none of them have the ability to replace gold at this point. Indeed, according to the Goldman Sachs report, gold is a defensive asset against inflation. Cryptocurrencies allow to protect oneself from inflation but take a risky position. Just like a trade or a classic investment.

For Ethereum to be able to compete with gold, it would first be necessary that the crypto-currencies do not have an internal competition between them, which is the case between ETH, BTC, and the other 10,772 crypto assets that exist. Indeed, this market is a risk for the crypto asset that would like to compete with gold. This reduces the stability that gold will be able to provide at the same time.

However, as far as this internal war is concerned, Ethereum does seem to be on the verge of overthrowing its opponents. The number of dollar investments in ETH has already exceeded those in Bitcoin for several weeks, and this trend seems to be accelerating.