According to Weiss Ratings, Ethereum will be the next big thing in the eyes of large-scale institutions as it continues to show a growing trend in the crypto market.
Ethereum has been showing outstanding performance in the crypto market this year. With expected network upgrades and a massive rise in the adoption rates, the asset has been outperforming King Bitcoin this year by a substantial margin, giving analysts the ideas that indicate that Ethereum will soon surpass Bitcoin. Analytics Agency Weiss Ratings thinks the same way and is now expecting that many large-scale institutions and companies will turn their heads to Ethereum instead of Bitcoin. Bitcoin has been called the ‘storage asset’ for a while now because it does not provide many features which, otherwise, Ethereum is filled with.
Ethereum Devs working on upgrades
Followed by the Ethereum 2.0 phase back in December of 2020, CME Group initialized a program called Ethereum futures for financial institutions, which has also contributed to the price increase of Ethereum. Analysis from the Weiss group indicates that this launch has opened many doors for Ethereum, and since then, it has seen a stable rise in adoption rate. Weiss predicts that Ethereum’s interest and adoption rate will soon reach new heights as more and more institutions and corporations will try to implement and trade with it in the future, which will pave the way for a new level of adoption.
Ethereum is expected to receive huge network upgrades. The upgrade will help the asset in a lot of ways. The upgrade will help Ethereum gain better scalability with support for thousands of transactions in a couple of seconds, enabling applications to run faster. The upgrade will also include more security protocols that will help to increase the security of the network, preventing potential breaches and attacks. Lastly, the upgrade will also help Ethereum be much more energy-efficient than other assets, making it environment-friendly.
Studying JP Morgan’s analysis on Bitcoin vs. Ethereum, Weiss group agrees to the points that JP Morgan raises about the future of Bitcoin that indicate that institutions will focus on Ethereum rather than Bitcoin, saying that it was inevitable, looking at the superior feature set that Ethereum provides compared to Bitcoin.
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