Bitcoin and Ethereum have been the major cryptocurrencies in recent years. However, there is a belief in certain quarters that Ether would soon surpass Bitcoin to become the leading cryptocurrency in the market.
Pantera Capital believes in flipping
Bitcoin has always been the number one cryptocurrency since it was created. However, Pantera Capital CEO Dan Morehead believes that will not be the case for long. He believes that Ether would soon surpass Bitcoin thanks to the numerous upgrades and massive use of the Ethereum network.
According to Morehead, the potential uses of the Ethereum network, lower environmental impact and technical upgrades are essential for Ether to outperform Bitcoin in the coming years.
He revealed this during an interview with Reuters. Morehead said the latest Ethereum Improvement Proposal (EIP) 1559 upgrade will make Ether act more like a fixed asset. The Pantera Capital said there will be a huge influx of people looking to store their wealth in Ether before Bitcoin in the coming years. ENJ Enjin coin has risen.
The EIP 1559 upgrade is expected to go live tomorrow and is expected to change the way transactions are processed on the Ethereum network and also reduce the delivery of the ether token.
Furthermore, Morehead pointed out that migrating to ETH 2.0 will make Ethereum more environmentally friendly than Bitcoin. In addition, the use of the Ethereum blockchain in decentralized financial (DeFi) applications will also support the price movement of Ether in the coming years.
Ether outperforms Bitcoin in 2021
Of the two leading cryptocurrencies, Ether is the better performer. Ether is up more than 300% since the start of the year, despite losing more than 40% of its total assets from its all-time high in May. At the moment, Ether is trading close to the USD 2,500 level. FTX review is positive.
Bitcoin, on the other hand, has not made a significant profit so far. It started the year trading at $29k per coin and is currently up nearly 40% to $38k. However, BTC hit a new all-time high of over $64k in April.