Ki Young Ju, CEO of CryptoQuant Analytics, said in a statement that in the long run, Ethereum is likely to outperform Bitcoin.
to the Report Daily Hoodel, he told his 239,700 followers on Twitter that Ethereum may break its previous peak before the new peak of Bitcoin was recorded. He went on to point out that Ethereum is far shorter than its Bitcoin peak. He said about this:
It is possible that Ethereum will reach this range before the price of Bitcoin reaches its historical peak. Ethereum is currently less than the distance from Bitcoin to its peak.
In another part of his speech, he said that Ethereum is facing a supply shock. On the other hand, the outflow of bitcoin capital from exchange offices has slowed down, indicating that the positive sentiment in the market has waned. He said about this:
More demand, less supply. Ethereum’s liquidity crisis has been exacerbated by sellers, while exchange rates in May have stalled.
Ki Yang Joo also points to the increasing accumulation of ether investors and considers it a positive factor in the upward trend of this digital currency. He said about this:
It seems that the whales, which had invested a large amount of ether in the Ethereum 2 shareholding agreement before the price increase, have again introduced a flood of ether into the contract, which is further evidence that the digital currency is bullish in the long run. It is possible that whales think that Ethereum is reasonably priced higher in the long run. [۳,۰۰۰ دلار] Is.
According to Cryptocurrency, 5.84% of the ether supply is currently accounted for in the Ethereum 2.0 smart contract.
Ethereum 2 is an update to the current version of Ethereum. Once Ethereum 2 is fully implemented, the consensus protocol for this digital currency will change from proof of work to proof of stock; This means that miners will give way to validators.