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Contending blockchains will not outperform Ethereum, and Ethereum can play a vital role in times to come, expressed Joey Krug.
Joey Krug – Chief Investment Officer for Pantera Capital informs that the second-largest crypto worldwide will continue dominating its competitors.
However, he projects that the token could soon be behind over 50% of worldwide financial transactions in the next ten years. This is regardless of the growing competitors against Vitalik Buterin’s project.
Pantera Capital CIO Comments On Ethereum
In his interview with Bloomberg, Joey Krug responded about Ethereum blockchain. He also added that the protocol would be a significant player in the global financial system over the next ten years.
In his prediction, Krug explained that over 50% of the worldwide financial transaction would occur on Ethereum’s blockchain in the next decade.
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Krug is optimistic about the overall smart contracts network, Ethereum. But, he also believes that contending blockchains like Solana, Cardano, and Polkadot isn’t a threat to the token.
Critics Contradict To Ethereum’s Growth
All the same, Ethereum critics observe that the blockchain has presently been losing to its contenders amid slow blockchain growth. Other blockchain projects have experienced massive growth over the past two years.
Although Ethereum has been experiencing strong contention from other blockchains, it’s been the pioneering blockchain hosting decentralized financial services. The fame of upsurged with the massive growth of the Decentralized Finance (DeFi) market.
It’s also essential we observe that Ethereum is currently planning to transfer to a more reliable mining mode, Proof-of-Stake. Therefore, he considers the blockchain token to expand its dominion in the crypto sector after this transfer into the forthcoming development.
Pantera Capital An Early Investor In Crypto
Pantera Capital is notably one of the forerunning cryptocurrency companies. It deployed the first investment fund aimed at Bitcoin in the U.S.
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Krug states that Ethereum’s native governance token, Ether, is among the company’s top three funds.
JPMorgan Says Contrary of Ethereum
Last week, several crypto analysts at the leading multinational investment bank-JPMorgan, even Nikolaos Panigirtzoglou, the MD, expressed that the Ethereum coin is slowly its supremacy in the DeFi market. However, in their opinion, other strong oppositions like Avalanche, Tera, Solana, and Cardano arose in 2021.
Thus, Ethereum’s dominion in the DeFi market has declined from almost 100% at the start of 2021 to around 65% in December 2021.
However, the second-leading crypto blockchain will enhance its network in 2023. The experts explained that this could imply that its contenders can close the gap even better in the next 12 months.
Featured Image on Pixabay | Charts by TradingView
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