Pantera CIO Joey Krug believes Ethereum’s transactions will increase by 50%. Krug stated that rival blockchains will not outperform the pioneer altcoin Ethereum and that Ethereum could play a vital role in the coming times. Detail cryptocoin.com‘in.
Important period for pioneer altcoin
Joey Krug reports that ETH will continue to dominate its rivals. He estimates that the token could be behind more than 50% of worldwide financial transactions in the next ten years. Krug is optimistic about the overall smart contracts network Ethereum. However, Solana also believes that rival blockchains such as Cardano and Polkadot are not a threat to the token. Still, Ethereum critics observe that the blockchain is losing against its rivals. Other blockchains have experienced massive growth over the past two years.
While Ethereum has strong competition with other blockchains, it has been the leading blockchain home to decentralized financial services. It has a rising reputation with the tremendous growth of the DeFi market. It is also important to observe that Ethereum is currently planning to switch to a more reliable mode of mining, Proof-of-Stake. Therefore, he thinks that the blockchain token will expand its dominance in the crypto industry in the future after this transfer. Pantera Capital is one of the leading cryptocurrency companies in particular. He established the first investment fund for Bitcoin in the USA. Krug states that Ethereum’s local government token Ether is among the company’s top three funds.
Last week, several crypto analysts at leading multinational investment bank JPMorgan, even MD Nikolaos Panigirtzoglou, stated that Ethereum is slowly taking the lead in the DeFi market. But according to them, other strong oppositions emerged in 2021 such as Avalanche, Tera, Solana and Cardano. Thus, Ethereum’s dominance of the DeFi market dropped from almost 100% at the beginning of 2021 to about 65% in December 2021. However, the second leading crypto blockchain will develop its network in 2023. Experts explained that this could mean that their competitors will be able to close the gap even better in the next 12 months.
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