Crypto survey reveals 47% of investors anticipate Ether to “outperform” Bitcoin
A recent survey conducted by CryptoVantage indicates that 47% of investors expect Ethereum (ETH) to surpass Bitcoin (BTC). This belief is based on various factors, including market data, network statistics, and upcoming upgrades in the Ethereum ecosystem.
Evidence from network and market data
Fidelity Digital Assets, a prominent institutional investor, released a “Q2 2023 Signals Report” that expressed a positive outlook on Ether’s performance in the next 12 months. One of the key rationales behind this optimism is the higher burn rate of Ether compared to its coin issuance. This, coupled with the increase in the number of network validators and the momentum of new Ethereum addresses, indicates healthy network adoption.
Furthermore, the report highlights the potential impact of EIP-1153, an Ethereum improvement proposal that aims to reduce transaction costs and enhance smart contract efficiency. This change is expected to benefit decentralized exchanges (DEXs) and help Ethereum regain its market share in the DeFi industry.
The anticipated “Dencun” upgrade
Another potential bullish factor for the Ethereum network is the upcoming upgrade on Uniswap, the leading decentralized exchange. Uniswap v4 is expected to introduce features such as programmable buttons, native ETH support, and improved transaction settlement. If approved, this upgrade, along with the implementation of EIP-1153, could significantly reduce transaction costs on the Ethereum network, attracting more users and boosting its market share.
Flat derivatives metrics
Despite the positive outlook for Ethereum, some cautionary signs exist. Quarterly futures premiums for Ether have been relatively low, indicating less enthusiasm from professional traders for leverage-based bullish positions. Additionally, the survey conducted by CryptoVantage suggests that some investors may have become overly optimistic about Ether’s potential to surpass Bitcoin.
Editor Notes: Uber Crypto News
The survey results revealing investors’ expectations for Ether to surpass Bitcoin demonstrate the growing confidence in Ethereum’s long-term prospects. While it is important to consider multiple factors when making investment decisions, it’s clear that the Ethereum ecosystem is gaining momentum and attracting increased interest from both institutional and retail investors.
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