The CEO and founder of one of the world’s largest independent financial advisory organizations, the deVere Group, has stated that the price increase of Ether (ETH) should continue to exceed that of Bitcoin in 2021.
DeVere Group’s CEO Nigel Green also believes that the value of ether will have surpassed that of bitcoin within a few years.
“Ethereum is outperforming Bitcoin, and it is expected that this trend will continue for the remainder of 2021,” he said.
Ether is up more than 300% so far this year, while the world’s most popular digital asset is up 55% in comparison. “In fact, it 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 Ether’s outstanding performance in 2021. Ether has a higher real usage potential and is the most sought-after development platform for smart contracts, he said, a platform for developers, rather than a global financial services provider. “
Second, Green commented that investor enthusiasm for the “groundbreaking” transition to Ethereum 2.0 is a huge boost not only for Ether, but also for blockchain technology itself.
“Ultimately, this will mean that its value will exceed Bitcoin’s – probably within five years.”
However, management is not pessimistic about Bitcoin (BTC) and remains confident that Bitcoin will have hit or exceeded its all-time high of $ 65,000 in mid-April by the end of 2021. However, Green concluded:
“The rise of Ethereum to the top of the crypto-verse seems unstoppable.”
At the beginning of June, deVere issued a fixed-income bond that tracks the futures of Bitcoin and Ether on the Chicago Mercantile Exchange.
Related: Ether is already “tipping” Bitcoin, says Celsius CEO
According to the UK crypto exchange CoinJar, Ether has flipped Bitcoin in almost every major metric. In a blog post on Wednesday, the exchange stated that Ether is already outperforming Bitcoin in a number of areas, including the number of transactions, the total value of transactions made, daily active wallets, transaction fees and mining revenue.
According to Coinbase’s second-quarter report, the trading volume of Ether has flipped that of Bitcoin for the first time in its 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 higher than Bitcoin’s 24% for the period.