Nigel Green is quite positive on Ethereum, predicting that its value would surpass that of Bitcoin over the next five years.
Ethereum’s price appreciation should continue to outpace Bitcoin’s in 2021, according to the CEO and founder of one of the world’s largest independent financial advising firms, the deVere Group.
Nigel Green, CEO of the deVere Group, predicts that Ethereum’s value will surpass that of Bitcoin within a few short years.
“Ethereum is outperforming Bitcoin and it can be expected to continue this trend for the rest of 2021,” he stated.
Ethereum has increased more than 300 percent this year, compared to the world’s most popular digital asset, which has gained 55 percent. According to City AM, Green stated, “In fact, it has outperformed all other benchmark assets in the first half of this year.”
Two critical variables contributed to Ethereum’s remarkable performance in 2021, according to the renowned analyst. Ethereum has a greater potential for real-world use and is the most sought-after development platform for smart contracts.
“thereby highlighting that network’s value not only as a platform for developers but as a worldwide financial utility,” he explained.
Second, Green stated that investor enthusiasm for the “game-changing” move to ETH 2.0 is a significant boost not only for Ethereum, but for blockchain technology in general.
“Ultimately, this will mean that its value will exceed that of Bitcoin — probably within five years,”
The firm executive is not gloomy on Bitcoin, though, and believes that by the end of 2021, Bitcoin will reach, if not exceed, its mid-April all-time high of $65,000. However, he concluded as follows:
“Ethereum’s ascent to the top of the cryptoverse seems unstoppable.”
DeVere developed a fixed-yield bond in early June that tracks the Chicago Mercantile Exchange’s futures on Bitcoin and Ethereum.
According to CoinJar, a cryptocurrency exchange based in the United Kingdom, Ethereum has surpassed Bitcoin in nearly every relevant parameter.
Ethereum has already surpassed Bitcoin in a number of areas, including transaction volume, total value transacted, daily active wallets, transaction fees, and mining revenue, according to an Aug. 18 blog post from the exchange.
According to Coinbase’s second quarter report, Ethereum’s trade volume surpassed Bitcoin’s for the first time in the cryptocurrency’s nine-year history.
Trading in ETH accounted for 26% of total volume in the second quarter, up from 21% in the previous three months and surpassing Bitcoin’s 24%.
