Ethereum’s rise to the top seems unstoppable
Ethereum will keep outperforming Bitcoin this year and ultimately surpass its rival’s value.
Yes, I recognise it’s a bold prediction, but looking at the stats, Ethereum is up around 240% in 2021, compared to less than 38% for Bitcoin. In fact, ETH has outperformed all other benchmark assets in the first six months of the year.
As I was quoted by City AM and Cointelegraph, amongst other media, there are two principal reasons that are fuelling Ethereum’s performance this year. First, Ether has a higher level of real-use potential, as Ethereum is the most in-demand development platform for smart contracts. This, therefore, reinforces the network’s value not just as a platform for developers, but as a global financial utility.
Second, is the increasing investor appetite for the move to ETH 2.0, which makes the network much more sustainable, scalable and safe. As well as being a major boost for Ethereum, these upgrades also enhance blockchain technology itself.
Furthermore, Ethereum is more useful than Bitcoin and has a number of technological advantages over the world’s largest cryptocurrency.
As such, this will mean its value will surpass Bitcoin’s, likely within around five years.
Nevertheless, I’m still confident that Bitcoin will return to, or even exceed, its record high from mid-April of $65,000 by the end of this year.
Going back to Ethereum, although there may be highs and lows along the way, naturally, I believe its rise to the top of the cryptoverse seems unstoppable.