Can Ethereum Reach $9,200? Analyst Reveals Shocking Facts!
Jakarta, Pintu News – In the past 48 hours, the crypto market has started to show a slow but steady rise, with Bitcoin (BTC) again leading the charge. However, most altcoins such as Ethereum (ETH), Ripple (XRP), and Solana (SOL) are still lagging behind in the recovery. Samson Mow, a Bitcoin maximalist and CEO of JAN3, recently revealed on the X platform how unit bias can mislead investors in valuing altcoins.
Unit Bias and Market Capitalization: Numbers Don’t Lie
Mow challenges investors’ perception of altcoin value by proposing a reframing of altcoin valuations. Bitcoin (BTC) was created with a total possible circulating supply of 21 million units, with 19.85 million units already in circulation today. If we apply the Bitcoin (BTC) supply model to altcoins, Ethereum (ETH) would be worth around $9,200, Ripple (XRP) around $5,800, and Solana (SOL) around $3,400.
Given the current prices of Ethereum (ETH), Solana (SOL), and Ripple (XRP), the numbers seem unrealistic and suggest that much of the altcoins’ appeal is driven by unit bias rather than true value. It also shows that Bitcoin (BTC) has a better foundation and scarcity in its supply dynamics.
Also Read: Trump Attacks Powell, Stock Markets Fall, But Bitcoin (BTC) Surges!
Bitcoin’s dominance narrative gets stronger
For Mow and other Bitcoin maximalists, the difference in the supply of Bitcoin (BTC) and popular altcoins is another reason why Bitcoin’s (BTC) dominance is likely to get stronger in the future. Notably, inflows into spot Bitcoin ETFs and growing recognition among traditional financial investors further strengthens the case for Bitcoin’s dominance going forward.
Currently, Bitcoin (BTC) is trading at $88,530, up 1.3% in the last 24 hours. Ethereum (ETH) is trading at $1,620, showing a decline of 1.5% over the same period. Solana (SOL) is down 0.5% to $140, and Ripple (XRP) is trading at $2.09 after a 1.63% decline in the past day.
Conclusion of Crypto Market Analysis
From the analysis presented, it is clear that the perception of crypto value can be heavily influenced by how investors view the number of units they can own. Bitcoin (BTC), with its limited supply and strong fundamentals, looks set to continue dominating the market. Meanwhile, altcoins need to be valued beyond just price per unit to understand their true potential.
Also Read: Ethereum User Increase: A Sign of Price Recovery in May 2025?
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- NewsBTC. Ethereum, XRP, and Solana Price Analysis for April 23. Accessed on April 23, 2025.
- Featured Image: Generated by AI