Pantera Capital CIO: Ethereum’s Market Dominance Is Not Under A Threat

Published by BingX Official at 2022-01-10

Today’s Cryptocurrency Headline

“Even if the so-called ‘ETH killer’ network explodes, it will not threaten the market dominance of the Ethereum blockchain, the most commonly used blockchain in the world,” Joey Krug, Co-CEO of US-BASED cryptocurrency investment firm Pantera Capital, said in a recent interview, according to Bloomberg. He expects that within 10-20 years, more than 50 percent of global financial transactions will be connected to the Ethereum network in some way. If Ethereum switches to proof-of-stake (PoS), many competing projects will end up relying more on Ethereum. It is understood that Pantera is one of the earliest digital asset investment firms, ranked in the top five crypto funds with $5.8 billion in assets.

BingX’s Bitcoin Chart

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Asset management company WisdomTree announced that it has added Bitcoin futures exposure to its commodities-focused managed futures strategy ETF. Bitcoin’s six-day losing streak ended on Sunday with Bitcoin price climbing back above $42,000 after it avoided dropping below the $40,000 psychological level. The U.S. inflation data will be released on Wednesday. If the data come in higher than expected, Bitcoin (BTC) may end up falling below the $40,000 psychological level.

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