Bitcoin Dominance to Continue Until 2025, JPMorgan Predicts

JPMorgan analysts predict that Bitcoin's dominance over Ethereum and altcoins will continue until 2025. With a significant increase in institutional investment and increasing mainstream adoption, the market expects that the price of Bitcoin may exceed $300,000 by the end of 2025.

Bitcoin is still expected to dominate the major cryptocurrencies in the next three years, JPMorgan analysts said in a recent note.

Institutions are showing increasing interest in digital assets, and the mainstream adoption of cryptocurrencies is also accelerating. But XRP futures are surging.

According to data from Bybt, XRP futures open interest hit a record high of $7.7 billion on Monday. At the same time, the open interest of BTC and ETH futures both decreased.

As of Monday, the open interest of XRP futures is about 2.5 times that of BTC futures and 7 times that of ETH futures.

However, the price performance of XRP this year is not outstanding. XRP has risen by about 16% so far in 2023, while BTC and ETH have risen by 32% and 23%, respectively.

The recent surge in XRP futures may be related to the optimism of traders.

As reported earlier, the U.S. Securities and Exchange Commission is expected to make a final decision on the Ripple case in the first half of this year.

If the SEC loses the case, it will be a major victory for the entire cryptocurrency industry.

Moreover, the approval of XRP futures by the Commodity Futures Trading Commission will also pave the way for the listing of XRP ETF.

Currently, several institutions, including Global X and ProShares, have applied to the SEC to launch XRP ETF.

Once approved, XRP will become the third cryptocurrency after BTC and ETH to have an ETF listed in the United States.