Ethereum will continue to outperform bitcoin in 2021 and will, ultimately, exceed its rival’s value.
This is the prediction from Nigel Green, chief executive and founder of deVere Group, who comments: “Ethereum (ETH) is outperforming bitcoin (BTC) and it can be expected to continue this trend for the rest of 2021.
“Ether is up around 240% this year, while bitcoin is up less than 38%. In fact, it has outperformed all other benchmark assets in the first half of this year.”
The deVere boss attributes two key factors that are driving Ethereum’s outperformance run.
“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,” he says.
“Second, investor enthusiasm for the game-changing transition to ETH 2.0, which makes the Ethereum network considerably more scalable, sustainable and secure. These upgrades represent a major boost not just for Ethereum but for blockchain technology itself.”
He adds: “Ethereum is more useful than Bitcoin and has tech advantages over its better-known rival.
“Ultimately, this will mean that its value will exceed that of bitcoin – probably within five years.
“That said, I remain confident that bitcoin will hit, or even surpass, its mid-April all-time high of $65 000 by the end of 2021.”