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

Join the Trading Community: Learn & Earn with BingX.

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

Bitcoin price analysis predication
Source: TradingView& BingX

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.

 

Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.