Ethereum To Overtake Bitcoin? Survey Reveals 47% Of Investors Are Bullish This May Happen In Next 12 Months
By Benzinga
A recent survey reveals that 47% of investors anticipate Ethereum (CRYPTO: ETH) to surpass Bitcoin (CRYPTO: BTC) in value, Cointelegraph reports.
Positive Outlook for Ethereum
The “Q2 2023 Signals Report” by Fidelity Digital Assets suggests a positive outlook for Ethereum over the next 12 months and beyond.
The report attributes this optimism to the network’s higher burn rate versus coin issuance, the “new address momentum,” and a growth in the number of network validators.
“The net issuance since the Merge in September 2022 resulted in a net supply decrease of more than 700,000 Ether,” the Fidelity report states.
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Upcoming Upgrades
Upcoming upgrades to the Ethereum network, including the anticipated “Dencun” upgrade and Uniswap v4, are expected to improve smart contract efficiency, reduce costs, and potentially recoup market share lost due to high gas fees.
“The announcement fueled the likelihood that EIP-1153 will be included in the next ‘Dencun’ upgrade,” the report adds.
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