Harvard Scientist: “Ethereum is Dying” – XRP Gaining on Second Spot

Ethereum (ETH) is once again falling short of expectations, with increasing calls for its demise. Harvard computer scientist Austin King even envisions a scenario where Ethereum could lose its top spot to a competitor. In a recent episode of the Good Morning Crypto podcast, King suggested that XRP might be the cryptocurrency to dethrone Ethereum.

Ethereum Losing Ground

According to King, Ethereum is facing structural issues that hinder its growth. At one point, the network had the potential to become fully deflationary, similar to Bitcoin (BTC), which would have increased the scarcity and long-term value of ETH. However, with the rise of Layer 2 (L2) solutions, this effect has largely diminished.

A significant number of transactions are now processed off the Ethereum main network in order to improve scalability. But King points out a dangerous paradox: many of these networks operate on a small number of computers, sacrificing decentralization for speed. This undermines one of Ethereum’s core principles and could pose a long-term threat to its network.

XRP as a Challenger to Ethereum

King views XRP as a strong contender to surpass Ethereum. The cryptocurrency is primarily used for cross-border payments and tokenization and has a fixed maximum supply of 100 billion tokens. This deflationary model stands in contrast to Ethereum, whose circulating supply fluctuates based on network activity.

XRP has already demonstrated its potential in recent months. In November, the coin was priced at $0.50, while by January – just before Trump’s inauguration – it had surged to a local high of $3.39, marking an increase of 578%.

Can XRP Overtake Ethereum?

Currently, XRP has a market capitalization of $140 billion, compared to Ethereum’s $322 billion. For XRP to surpass ETH, its price would need to rise to $6, an increase of 145%.

Whether this scenario is realistic remains uncertain. However, King emphasizes that the cryptocurrency market is unpredictable, and a coin with solid fundamentals, like XRP, could see rapid value growth in a bullish market. If XRP were to ever surpass Ethereum, it would represent a historic shift in the crypto market.