A recent survey has revealed that almost half of investors are optimistic about the future of Ethereum, with 47% anticipating that it will surpass Bitcoin in value within the next 12 months. This positive outlook for Ethereum is based on a number of factors, including its higher burn rate versus coin issuance, an increase in the number of network validators, and new address momentum.
The Fidelity Digital Assets “Q2 2023 Signals Report” supports this positive outlook for Ethereum by highlighting the net supply decrease of more than 700,000 Ether since the Merge in September 2022. Additionally, upcoming upgrades to the Ethereum network, such as the highly anticipated “Dencun” upgrade and Uniswap v4, are expected to improve smart contract efficiency, reduce costs, and potentially recoup market share lost due to high gas fees.
This news is significant in the world of cryptocurrency, as Ethereum has long been considered the primary challenger to Bitcoin’s dominance in the market. If Ethereum were to overtake Bitcoin in value, it would mark a significant milestone for the cryptocurrency industry and could potentially reshape the landscape of the market.
Source: Cryptopanic
