Is (dollar)ETH Going Bullish?


(dollar)ETH Going Bullish?

According to Joey Krug, Pantera Capital’s co-chief investment officer, Ethereum, the world’s second-largest cryptocurrency, is expected to maintain its market dominance for the next few years.

According to a representative from the crypto-focused investment firm, ETH could outperform its competitors in terms of trade-offs.

Across all of the firm’s funds, Ether remains in the top three positions.

Joey Krug is an Ethereum bull.

According to Bloomberg, the native currency of the Ethereum blockchain is currently ranked first among all digital tokens on Pantera’s top picks.

ETH, according to Krug, is the second most valuable cryptocurrency in the world, after Bitcoin.

“If you fast forward 10 to 20 years, a very large percentage, perhaps even north of 50%, of the world’s financial transactions will touch Ethereum in some way, shape, or form,” Krug said in an interview.

Pantera was rumored to have put (dollar)5.8 billion into its crypto venture.

It is in the top five hedge funds investing in digital assets.

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What ETH Killers Have to Say About It

According to Bloomberg, some skeptics of ETH revealed that it was not inconvenient to use due to its slow transaction speed and high fees.

Furthermore, there were reportedly fixed layer-2 networks.

Regardless of the solution, critics claim that it is still ambiguous in their application.

Many “ETH-killers” have continued to criticize the digital currency in recent years.

Many coins are slowly gaining popularity and edging closer to Ether and other cryptos as a result of the emergence of several DeFI (decentralized finance) apps.

Last year, for example, the value of a digital coin such as Polkadot increased by 150 percent.

Meanwhile, Solana saw a 7,000% increase, indicating the viability of DeFi-focused applications.

The Year of Ether’s Breakthrough

Ether’s market price set a new high in 2021.

In the same year, its value plummeted by nearly 400%.

According to some experts, such as Krug, it has the potential to outperform Bitcoin in terms of current price.

Many competing cryptocurrencies will eventually use ETH as a base, according to Krug of Pantera.

Those competitors who make trade-offs, according to the DeFi developer, may fall behind the Ethereum blockchain.

Dan Morehead, a Bitcoin expert, is currently in charge of Pantera.

He worked at before joining the firm.

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