The CEO said that the pioneering cryptocurrency is only a store of value and confessed that he views Ether as a programmable Bitcoin. BTC, gaming coins, and non-fungible tokens (NFTs) dominated the crypto market in the third quarter, according to CoinGecko.
Barry Sternlicht, the co-founder of Starwood Capital Group, recently said that gold has no value. Furthermore, he revealed that he is betting on Bitcoin (BTC) as Western governments are printing money in an unlimited way. However, he considers Ether (ETH) to have preferable features to those of the pioneering cryptocurrency.
Sternlicht has a net worth of around USD 4.4 billion, besides investments in the real estate market.
The executive believes that neither gold nor silver has value, for which he is a follower of Bitcoin and other cryptocurrencies. Although Sternlicht supports the first crypto asset on the market, he praises the traits of Ether.
The CEO of Starwood Capital Group described Bitcoin as an insanely volatile cryptocurrency with no other purpose than being a store of value. He confessed that he owns some Ether, which he sees as a programmable Bitcoin, and said that many other currencies use that system.
The Price of Ether Reaches USD 3,800
Ether is trading at around USD 4,069 and has accumulated a 13% profit in the past seven days, according to CoinGecko.
Ether bulls are poised for a USD 53 million profit on the expiration of weekly options.
The Cryptocurrency Market Recovered Significantly in the Third Quarter
Bitcoin (BTC), gaming coins, and non-fungible tokens (NFT) dominated the crypto market in the third quarter, according to a report from CoinGecko.
Tokens from games like Axie Infinity (AXS), Illuvium (ILV), and Gala (GALA), as well as the NFT space in general, posted massive gains. AXS precisely posted nearly 1,000% quarter-on-quarter gains with its performance this year, exceeding 13,700%.
Concerning the trading volume of NFTs, OpenSea continued to dominate that segment of the market. Along with Rarible, it registered a total trade of around USD 6.8 billion in the third quarter, according to the CoinGecko report.
After Raising USD 12 Million, Aurora Scales the Ethereum Ecosystem
Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (dApp), has announced a USD 12 million seed funding round.
Pantera Capital and Electric Capital were among more than 100 venture capital investors that participated in the round.
An official statement revealed that Aurora would use the funds to expand cross-network capabilities. Additionally, the money will help hire specialized developers to support the scaling growth of Ethereum.
Altcoins that Could Follow in the Footsteps of Bitcoin and Ether
Raoul Pal recently predicted which cryptocurrencies could grow almost as exponentially as Bitcoin and Ether. The former executive at investment bank Goldman Sachs and current CEO of Real Vision mentioned four altcoins that could do it.
Pal believes that Solana (SOL), Terra (LUNA), Avalanche (AVAX), and Polkadot (DOT) could continue to become the following industry leaders. Those cryptocurrencies are platforms for building smart contracts, decentralized finance (DeFi), dApps, NFT, CBDC, and other blockchain apps.
By Alexander Salazar
