47% of investors expect ETH to surpass BTC in terms of growth rates
Date: 2023-07-20 Author: Karina Ziganova Categories: BLOCKCHAIN
Ether (ETH), more than any other altcoin, has a chance to surpass Bitcoin (BTC) in terms of price and market capitalization. This is the opinion reached by CryptoVantage analysts
According to the study, 46.4% of US investors believe that ETH has the best chance among altcoins to overtake BTC in terms of price growth and market capitalization during the next bull market.
At the same time, 21% said that Dogecoin (DOGE) could do this. Interestingly, this figure rises to 25% for women alone, and only 16% of men believe that DOGE has a better chance of outshining BTC. Only 16% of respondents believe that no cryptocurrency will be able to overtake bitcoin.
Americans do not expect BTC to grow soon
The survey found that only 23% of respondents expect BTC to return to its all-time high within a year, while 47% expect it within the next 5 years. Another 14% of respondents could not determine when BTC will return to the maximum price value.
However, the majority of respondents (78%) are confident that BTC will eventually return to its all-time high, without naming a timeline. Only 9% believe that it will "never" equal or exceed its maximum price of $69,044.
Why ETH is waiting for growth
Fidelity Digital Assets analysts recalled that the September 2022 Merge resulted in a 700,000 ETH reduction in net supply. In addition, there has been an increase in the number of Ethereum addresses that have been transacted for the first time, proving the healthy adoption of the network.
The expectations associated with EIP-1153 also create momentum for the Ethereum network, as the proposal can increase the efficiency of smart contracts, reduce costs, and expand the design of the Ethereum Virtual Machine. This change is especially important for decentralized exchanges (DEXs), where Ethereum's dominance has dropped to 46% from 60% six months earlier.
Another potentially optimistic factor for the Ethereum network is the expected upgrade of the leading DEX – Uniswap. The upcoming version of Uniswap v4 will allow the creation of unlimited pool types thanks to ETH support and a singleton contract that performs internal transactions before settling final balances.
