The CEO and founder of one of the world’s largest independent financial advisory organizations, deVere Group, has stated that Ethereum’s price appreciation should continue to outpace Bitcoin’s in 2021.
The CEO of deVere Group, Nigel Green, also believes that the value of Ethereum will exceed that of Bitcoin in a few years.
“Ethereum is outperforming Bitcoin and this trend can be expected to continue for the remainder of 2021“, said.
The price of Ether has gained more than 300% so far this year, while the world’s most popular digital asset is up 55% in comparison. “In fact, it has outperformed all other benchmark assets in the first half of this year,” Green added according to City AM.
The respected analyst attributed two key factors to Ethereum’s stellar performance in 2021. Ethereum has a higher level of potential for actual use and is the most in-demand development platform for smart contractshe said, “thus highlighting the value of that network not only as a platform for developers, but as a global financial utility.”
Second, Green commented that Investor enthusiasm for the “game-changing” transition to ETH 2.0 represents a huge boost not just for Ethereum, but for blockchain technology itself.
“Ultimately, this will mean that its value will exceed that of Bitcoin, probably five years from now.”
Nevertheless, the company executive is not bearish on Bitcoin; remains confident that Bitcoin will reach, or even exceed, its mid-April all-time high of $ 65,000 by the end of 2021. However, it concluded that:
“Ethereum’s rise to the top of the cryptoverse seems unstoppable.”
Begining of June, deVere launched a fixed yield bonus that tracks Bitcoin and Ethereum futures on the Chicago Mercantile Exchange.
According to the UK cryptocurrency exchange CoinJar, Ethereum has outperformed Bitcoin in almost every metric that matters. In a blog post on August 18, the exchange claimed that Ethereum is already outperforming Bitcoin in a number of areas, such as number of transactions, total value of transactions, daily active wallets, transaction fees, and mining revenue.
According to Coinbase’s Q2 report, Ethereum’s transaction volume surpassed that of Bitcoin for the first time in its nine-year history.
ETH trading accounted for 26% of total volume in Q2, compared to 21% of the previous three months, and more than 24% of Bitcoin in that period.