Pantera's Joey Krug Thinks Ethereum Has a Lead-of-a-Network Effect on the Market | $ETH Going Bullish?

Joseph Henry, Tech Times 10 January 2022, 02:01 am

Ethereum, the second-largest cryptocurrency in the world, is believed to continue its dominance in the market for the next few years, according to Joey Krug, Pantera Capital's co-chief investment officer.

The official from the crypto-centered investment company thought that ETH could serve best its rivals with trade-offs. Ether remains to be on the top three spots of the firm across all of its funds.

Joey Krug Bullish on Ethereum

Pantera's Joey Krug Thinks Ethereum Has a Lead-of-a-Network Effect on the Market | $ETH Going Bullish?

(Photo : Executium from Unsplash)
Ethereum, the second-largest cryptocurrency in the world is believed to continue its dominance in the market for the next few years, according to Joey Krug, Pantera Capital's co-chief investment officer.

According to a report by Bloomberg, Ethereum blockchain's native currency is currently situated on Pantera's top picks among all digital tokens. Krug said that ETH holds the second largest market value behind Bitcoin.

"If you roll the clock forward 10 to 20 years, a very sizable percent, maybe even north of 50%, of the world's financial transactions in some way, shape or form will touch Ethereum," Krug mentioned in an interview.

Pantera was known to have invested $5.8 billion in its crypto-centered venture. It is ranked top 5 among hedge funds that invested in digital assets.

What ETH Killers Say About this Crypto

Bloomberg wrote in the same report that some doubters of ETH revealed that it was not inconvenient to use because of its slow transaction speed and pricey fees.

Moreover, there were also layer-2 networks that have been reportedly fixed. Regardless of the solution, the critics said that it remains ambiguous for their usage.

Over the past years, many "ETH-killers" continued to bombard the digital currency with their opinions regarding it. With the emergence of several DeFI (decentralized finance) apps, many coins are slowly getting popular and inching close with Ether and other cryptos.

For instance, a digital coin such as Polkadot saw a significant increase of 150% in its value last year. Meanwhile, Solana skyrocketed to about a 7,000% increase which hinted at the viability of DeFi-focused applications.

Ether's Breakthrough Year

In 2021 alone, Ether managed to hit an all-time high record for its market price. In the same year, it also suffered from a nearly 400% decrease in its value. Some experts like Krug believed that it could outperform Bitcoin in terms of its current price.

Eventually, Pantera's Krug said that many competing cryptocurrencies would use ETH as a base. The DeFi developer said that those competitors with trade-offs could fall behind the Ethereum blockchain.

Currently, Bitcoin expert Dan Morehead is managing Pantera. Before going to the firm, he worked at Julian Robertson's Tiger Management as an executive in his starting career.

Motley Fool, in another report, wrote that ETH along with BTC is crashing. The investment news outlet said that investors should always consider the coin's volatility and risk factors when investing in cryptocurrencies.

Meanwhile, Tech Times reported that Coinsuper's fund withdrawal issue remained the same following several complaints from investors.

For more crypto articles, you can also check our latest story about the five (5) cryptos that Redditors want to purchase in 2022.

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Written by Joseph Henry