The CEO and founder of one of the world’s largest independent financial advisory organizations, the deVere Group, said Ether (ETH) price appreciation should continue to outpace Bitcoin in 2021.
DeVere Group CEO Nigel Green also believes Ether’s market value will have exceeded Bitcoin’s within a few years.
“Ethereum is outperforming Bitcoin and you can expect this trend to continue for the rest of 2021,” he said.
So far this year, Ether has appreciated by more than 300%, while the world’s most popular cryptocurrency, in comparison, has risen by 55%. “In fact, [o ETH] outperformed all other benchmark assets in the first half of this year,” added Green, according to City AM.
The respected analyst attributed two key factors to Ether’s brilliant performance in 2021. The asset has a higher real-use potential and is the most sought-after development platform for smart contracts, he said, “thus highlighting the value of the network not just as a platform for developers, but as a global financial utility.”
Second, Green commented that investor enthusiasm for the “revolutionary” transition to Ethereum 2.0 represents a big boost not just for Ether, but for the blockchain technology itself.
“Ultimately, this will mean that its value will exceed that of Bitcoin – probably within five years”
However, the company executive is not pessimistic about Bitcoin (BTC). He remains confident that the largest cryptocurrency on the market will have reached, or even surpassed, its all-time record of $65,000 by the end of 2021. However, Green concluded that:
“Ethereum’s ascent to the top of the crypto universe seems inevitable.”
In early June, deVere launched a fixed-income security pegged to Bitcoin and Ether futures on the Chicago Mercantile Exchange (CME).
According to UK cryptocurrency broker CoinJar, Ether has outpaced Bitcoin on nearly every major metric. On Wednesday, in a post on the company’s blog, the broker said that Ether is already outperforming Bitcoin in a number of ways, including the number of transactions, total amount transacted, daily active wallets, transaction fees and revenue from mining.
According to Coinbase’s second quarter report, Ether’s trading volume surpassed Bitcoin’s for the first time in nine years of history.
ETH transactions represented 26% of the broker’s total trading volume in the second quarter, up from 21% in the previous three months, and up from Bitcoin’s 24% in the same period.
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