Ryan Watkins said during a recent interview with Fintech Today that the shift towards Ethereum 2.0 would bring about some changes in the cryptocurrency’s monetary guidelines, which may result in Ether becoming the dominant cryptocurrency in the future.
Bitcoin may always be the darling of the crypto space and certainly has enjoyed massive popularity and acceptance as a store of value, but Ethereum’s fortunes have generally kept pace with and possibly surpassed Bitcoin since the end of 2020.
Bitcoin’s distinct selling point as a “store of value” asset is the fact that its monetary policy can be predicted, Watkins said.
Bitcoin had rallied from more than $28,000 to over $58,000 since December last year. ETH has jumped from over $745 to more than $1800, an increase of around 240%.
ETH investors with strong optimism on the rollout of Ethereum 2.0 have done quite well since it was unveiled on Dec. 1. Its price has climbed over threefold from the end-of-day print to the present, or $1805 at the time of this writing. Also, the crypto has advanced 145% so far this year.
“I think that the shift to Ethereum 2.0 and proof of stake, which is kind of like a new way of securing the Ethereum blockchain… Ethereum may actually be more secure compared to Bitcoin”, Watkins said.
According to some analysts, Ethereum might be a better long-term investment than Bitcoin. Ethereum is second to Bitcoin in terms of popularity, but a recent Singapore study — which was published in the journal PLos One — showed that tends to be more stable and a better “safe-haven” investment during shaky economic times.
Ethereum has been arguably more bullish compared to Bitcoin itself, bringing a higher return on investment but still nowhere near former record peaks on the two crypto asset’s ratio.
Image courtesy of Bram van Oosterhout/Pexels
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