According to analysts, Ethereum (ETH) may continue to outperform Bitcoin (BTC) in the long term.
Ethereum, which is on the rise with Bitcoin, compared to BTC, which appreciated by 8% on a weekly basis. increased by more than 16%.
Amberdata’s head of derivatives Greg Magadini said Ethereum Better structure than Bitcoin in terms of supply He thinks he has.
in 2022 merge after the update proof-of-stake The supply of Ethereum, which switched to the algorithm, unlike Bitcoin, actively decreasing.
Magadini, “Everyone is talking about the Bitcoin halving in April, but that means ETH has been around since September 2022. actively next to ‘DECREASING’ supply nothing remains.” said.
Total since Merge update according to data from Ultrasound.money 1 million 47 thousand 643 ETH while being produced 1 million 407 thousand 200 ETH was burned and removed from circulation output. ETH supply is thus net decreased by 359 thousand 557.
In addition, Franklin Templeton, BlackRock, Fidelity, Ark and 21Shares, Grayscale, VanEck, Invesco & Galaxy and Hashdex have filed applications with the SEC to establish a spot Ethereum ETF in the USA.
Magadini, “When you add inactive, STAKED ETH to this ‘Supply CLOSE’ of ETH and then add a SPOT ETF that will actively transfer ETH in circulation to cold wallets… the supply story of ETH in terms of fundamentals It gets as bullish as possible..” said.