- Nigel Green, CEO and founder of deVere Group, expects Ethereum to surpass Bitcoin within five years.
- He says Ethereum’s abundant real-life use cases along with recent updates are the key drivers.
- “Ethereum’s ascent to the top of the cryptoverse seems unstoppable,” he said.
The CEO of deVere Group, one of the world’s largest independent financial advisory and fintech organizations, assumes Ethereum would continue to outplay Bitcoin during this year, and finally exceed it by 2026.
Ethereum has undergone remarkable growth throughout 2021. The growth includes a number of updates, particularly the much-anticipated EIP-1559 upgrade which was part of the London Hardfork. This trend has not gone unnoticed by prominent analysts.
Nigel Green, CEO and founder at deVere Group, anticipates that Ethereum, the second-largest digital asset by market capitalization, would exceed Bitcoin in five years. “Ethereum is outperforming Bitcoin and it can be expected to continue this trend for the rest of 2021,” he said.
Ethereum traders had a roller coaster ride in 2021 as the prices of the second most popular crypto reached unseen levels, gaining more than 300 percent. Further, Ethereum has managed to defeat Bitcoin in terms of percentage gains, as the leading cryptocurrency is only up by approximately 50% so far this year.
Green asserts that Ethereum’s remarkable performance can be largely attributed to two factors. As the first factor, deVere CEO mentions Ethereum’s ample real-life applications which have fueled a surge in the adoption and usage of the coin. He said:
First, Ether has a higher level of real-use potential as Ethereum – the platform on which it is the native cryptocurrency – is the most in-demand development platform for smart contracts, thereby highlighting that network’s value not only as a platform for developers but as a worldwide financial utility.
Green continued that the recent improvements along with a dedicated team of developers have also played a notable role in Ethereum’s impressive performance. “Second, investor enthusiasm for the game-changing transition to ETH 2.0, which makes the Ethereum network considerably more scalable, sustainable and secure,” he said.
Ethereum to Transcend Bitcoin in 5 Years
Citing the aforementioned reasons, Green declares that Ethereum will finally outdo Bitcoin in five years. “Ultimately, this will mean that its value will exceed that of Bitcoin – probably within five years. There will be peaks and troughs along the way of course, but Ethereum’s ascent to the top of the cryptoverse seems unstoppable,” he said.
In addition, data by the leading blockchain analysis firm Glassnode shows that the Ethereum balance on cryptocurrency exchanges has reached a two-year low of just over 15 million coins. Given that Ethereum’s infinite supply has always been a major obstacle, a shortage of supply can further push Ethereum to new all-time highs.
Ethereum’s outstanding performance during 2021 has provoked a new wave of debate around the subject of Flippening. In early July, the leading investment bank Goldman Sachs asserted that Ethereum would soon manage to overhaul Bitcoin as the dominant digital store of value.