As the most widely used blockchain in the world, Ethereum has grown significantly over the years. Both the network’s market capitalization and institutional interest have also grown. In fact, many analysts have also predicted that ETH will exceed the market value of Bitcoin. This hypothesis, today, is widely dubbed the flipping it.
In fact, according to some platforms evaluating the aforementioned possibility, ETH is almost halfway there. Blockchain Center, for example, uses key metrics like transaction volumes, market share, and active addresses to perform this assessment.
Nigel Green, CEO of leading financial advisory firm DeVere Group, is the latest to contribute. In fact, the executive went further after stating that ETH will exceed the value of BTC in the next five years.
Speaking to City.am, the CEO noted that Ether has been outperforming Bitcoin and will continue to do so for the remainder of 2021. He said:
“Ether is up about 240 percent this year, while Bitcoin is up less than 38 percent. In fact, it has outperformed all other benchmark assets in the first half of this year. “
This is what helps Ethereum
According to the executive, two key factors will accelerate Ether’s rise to the top. Expanding Ethereum’s network capabilities, he commented,
“First, Ether has a higher level of potential for real use as Ethereum, the platform on which the native cryptocurrency is located, is the most requested development platform for smart contracts, which highlights the value of that network not only as platform for developers but as a global financial utility. “
Second, the “revolutionary” transition to Ethereum 2.0 has been accompanied by widespread enthusiasm on the part of investors. This is giving a boost, not only to the network, but to the blockchain industry.
Ultimately, Ethereum’s superior use potential and technological advantages will see it surpass the world’s leading digital asset “probably five years from now,” according to DeVere.
However, the investment advisor’s bullish bias for Ethereum did not imply anything negative for Bitcoin. In fact, Green believes that BTC will violate its ATH again before the end of the year.
“There will be peaks and valleys along the way, of course, but Ethereum’s rise to the top of the crypto-verse seems unstoppable.”
Is the flippening even realistic?
Green had made similar comments in a recent YouTube post. video. And there is also a basis for such claims. For example, the ROI of Ethereum has greatly exceeded that of Bitcoin in recent months. Even when looking at the flip rate, ETH is outshining BTC in metrics like transaction count and volumes.
A Benzinga survey earlier this year had revealed that 80.8% of surveyed crypto traders shared the executive’s views. More than 65% of the participants believed that Ethereum was undervalued, while another 40% thought that BTC was overvalued.
If these feelings continue, the probability of a “sea change” could increase even more.
This is a machine translation of our English version.
Your opinion is important to us!