Survey Finds That 46% of Investors Believe Ether Will Outperform Bitcoin
Recent surveys show that a majority of Americans believe Bitcoin will surpass its previous high, while Ethereum is expected to experience significant growth.
- CryptoVantage survey: 78% of Americans believe Bitcoin will surpass its previous high, but only 23% in the next year, 47% in five years, and 8% think it won’t happen.
- Survey: 46% pick Ethereum to surpass Bitcoin in market value, 21% choose Dogecoin.
- Fidelity Digital Assets’ Signals Report predicts solid growth for Bitcoin and Ethereum.
- Ethereum’s ecosystem expects growth with EIP4844, base mainnet launch, and rollup enhancements, leading to more accessibility and innovative applications.
A recent survey has revealed interesting insights into American attitudes toward cryptocurrencies. The survey found that 78% of respondents believe that Bitcoin will surpass its previous record high. However, only 23% of them believe it will happen in the upcoming year, while 47% anticipate it to happen within the next five years. Only 8% of respondents believe that Bitcoin will never reach its all-time high again.
Fidelity predicts bullish ETH growth, 47% expect Ether to surpass Bitcoin in 12 months.
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Dogecoin vs Ethereum: Competing for Market Value
Interestingly, the survey also found that 21% of respondents think Dogecoin (DOGE) has the highest chance of ever surpassing Bitcoin in terms of market value. On the other hand, 46% of Americans believe that Ethereum (ETH) has the best chance.
Fidelity Digital Assets’ Signals Report on Bitcoin and Ethereum
Fidelity Digital Assets recently released its “Q2 2023 Signals Report,” which provides insights into the future prospects of Bitcoin and Ethereum.
According to the report, both Bitcoin and Ethereum are projected to experience solid growth. Bitcoin has seen a year-to-date gain of approximately 85%, maintaining significant price levels as on-chain indicators stabilize post-speculative activity. Ethereum, with a year-to-date increase of nearly 62%, displays positive price signals and growing on-chain metrics.
The report also highlights the decrease in the supply of more than 700,000 Ether since the “Merge” in September 2022, indicating reduced issuance. Additionally, the growing number of Ethereum addresses engaging in their first transactions suggests a healthy network adoption. The second quarter saw a 15% increase in active Ethereum validators, indicating heightened network security awareness.
Growth Beyond 2023: New Developments in the Ethereum Ecosystem
While Ethereum has already shown promising growth, there are several new developments on the horizon that could significantly enhance the ecosystem.
The adoption of EIP4844 and the launch of the base mainnet are two crucial actions expected to drive considerable improvements in the Ethereum ecosystem.
EIP4844, set to be operational by the end of the year, aims to reduce costs associated with rollups, a layer 2 scaling solution that enhances Ethereum’s transaction throughput while maintaining security. This change is expected to improve the user experience and attract more developers by lowering rollup expenses.
The launch of the basic mainnet is another significant milestone for Ethereum, as it is projected to bring millions of additional users to the ecosystem. With easier onboarding and participation, the popularity of decentralized finance (DeFi) and blockchain applications is expected to soar. This increased accessibility could lead to a surge in the acceptance and usage of Ethereum.
In addition to these essential developments, Ethereum’s rollup solutions are undergoing general enhancements to improve performance, effectiveness, and usability. These improvements are expected to encourage more usage and innovation within the ecosystem.
Furthermore, the Ethereum community anticipates the growth of new applications on rollups, layer 2s, and layer 3. These developments could pave the way for novel DeFi platforms, autonomous worlds, and the tokenization of physical assets. As developers explore these new capabilities, the Ethereum ecosystem is likely to experience a wave of innovative and disruptive applications.
