Ether (ETH) market capitalization has grown much faster than Bitcoin’s (BTC) in the past year, highlighting ETH’s best performance over BTC over this period.
In his most recent blockchain letter, the cryptocurrency investment manager Pantera Capital presented a chart of Ethereum’s growth trajectory. “The capitalization ratio of Ethereum has doubled compared to Bitcoin in the last year”, the Investment Manager states:
“We believe this is the start of the EIP 1559 market appreciation and proof of proportion. These two changes will result in Ethereum being a deflationary asset with a negative Ethereum issued in every block. This means, that a negative Ethereum will be issued in every block. ETH will be a more deflationary capital than Bitcoin. “
The combination of DeFi’s growing use cases and its rapid adoption suggests that Ether’s market share compared to Bitcoin will continue to grow, argued Pantera.
“We think this is just the beginning”, tweeted on Thursday the CEO of Pantera, Dan Morehead, in terms of Ethereum’s potential versus Bitcoin.
We have written extensively about being bullish Ethereum, Polkadot, and DeFi tokens compared to other blockchains.
The ratio of the market capitalization of Ethereum to Bitcoin has doubled in the last year.
We think this is just the beginning.
More on this in our letter to investors from May https://t.co/8JxNsXS04S pic.twitter.com/4dgHrBWaMF
to???? Dan Morehead (@dan_pantera) May 13, 2021
We have written extensively on how to be bullish on Ethereum, Polkadot, and DeFi tokens compared to other blockchains.
Ethereum’s capitalization ratio has doubled compared to Bitcoin over the past year.
We believe this is just the beginning.
More details in our letter to investors in May.
The price of ether has risen 1,750% in the past 12 months, even considering the recent market crash related to the decision to Elon Musk no longer accepts bitcoin payments for Tesla cars.
Ethereum’s market cap hit a high of $ 500 billion earlier this week. Ranking in the world business elite. The cryptocurrency too reached a three-year high compared to Bitcoin, which heightened bullish sentiment. As Pantera Capital pointed out, the developer network is now more valuable than any major bank with the exception of JPMorgan Chase.
Bitcoin has also come an impressive 12 months, Soaring from around $ 9,000 in May 2020 to a high of over $ 64,000 in April 2021.
At press time, Bitcoin was close to $ 48,400 after falling 10.9% that day. Meanwhile, Ether lost 10% and is trading at USD 3,635.