“Ethereum’s ascent to the top of the cryptoverse seems unstoppable,” declared Nigel Green in mid-August, and it’s not hard to see why the deVere CEO thinks this. DeFi is on a tear, NFTs are mushrooming, Ethereum (ETH) remains more scalable than Bitcoin (BTC) and it also offers more uses including smart contracts. Moreover, Ethereum will soon move to a proof-of-stake (PoS) consensus algorithm, looking to be more eco-friendly than Bitcoin’s energy-intensive proof-of-work (PoW) protocol.
“Ethereum is already years ahead of Bitcoin in everything but price and fame,” said Green earlier this year, adding: “There’s a real sense that 2021 is the year for Ether. Its time has come.” But, is it really a foregone conclusion that the world’s first, largest and best-known cryptocurrency is ready to relinquish its market-cap crown? Maybe not.