The second-largest cryptocurrency could outperform Bitcoin (BTC) next year, according to analysts.
According to research conducted by ETC Group, Ethereum EIP-1559 in August 2021 came with the update “burning mechanism”may trigger a rise in price.
In the report, “Ether’s annual net supply issuance amounts to minus 1.1%, and today approximately 1.84% is burned annually. “Traditional investors may consider staking returns as a type of dividend and the burn rate as a share buyback.” It was said.
Ethereum has outperformed Bitcoin since 2015, except for 2023. ETC Group team in the Ethereum ecosystem along with technological developments He expects ETH to provide a better return than BTC in 2024.
In a recent report published by Coinbase, “The fact that Ether is at a relative discount may herald a return to the mean in 2024.” comment was made.
Holborn COO David Schwed said: “Bitcoin’s current role and stability means it can outperform Ether in the long run.” He thinks it means.