Ethereum has gained more than 300% so far this year whereas Bitcoin is up 55% by comparison
The CEO and founder of one of the world’s largest independent financial advisory organizations, the deVere Group, has stated that Ethereum’s price appreciation should continue to beat Bitcoin’s in 2021.
The deVere Group chief executive Nigel Green also believes that Ethereum’s value will exceed that of Bitcoin’s within a few short years.
Ethereum is outperforming Bitcoin and it can be expected to continue this trend for the rest of 2021, he said.
Ethereum has gained more than 300% so far this year whereas the world’s most popular digital asset is up 55% by comparison. In fact, it has outperformed all other benchmark assets in the first half of this year, added Green according to City AM.
The analyst attributed two key factors to Ethereum’s stellar performance in 2021. Ethereum has a higher level of real-use potential and is the most in-demand development platform for smart contracts he said, thereby highlighting that network’s value not only as a platform for developers but as a worldwide financial utility,
Secondly, Green commented that investor enthusiasm for the “game-changing” transition to ETH 2.0 represents a major boost not just for Ethereum, but for blockchain technology itself.
The company executive isn’t bearish on Bitcoin however and remains confident that Bitcoin will hit, or even surpass, its mid-April all-time high of $65,000 by the end of 2021. However he concluded that: Ethereum’s ascent to the top of the cryptoverse seems unstoppable.
The company launched a fixed-yield bond in early June that tracks futures of Bitcoin and Ethereum on the Chicago Mercantile Exchange.
According to U.K. crypto exchange CoinJar, Ethereum has flipped Bitcoin in almost every metric that matters. In a blog post on Aug. 18, the exchange stated that Ethereum is already surpassing Bitcoin in a number of areas, including the number of transactions, total value transacted, daily active wallets, transaction fees and mining revenue.
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