Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey
October 07 2021 - 06:00PM
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Investor interest in Ethereum is no longer a novel phenomenon. The
second-largest asset by market cap has seen more support with the
rise of decentralized finance on its ecosystem. Applications of
Ethereum have been the major drive behind the growth of the
cryptocurrency and institutional and individual investors alike see
the asset outgrowing number 1 coin Bitcoin in the coming years. A
recent CoinShares survey has echoed the sentiment that has been
held by investors in the market for a while now. It showed that
number of investors who believe Ethereum is set to outpace Bitcoin
is over twice the number of investors who are bullish on the growth
of bitcoin. Lately, investors have been moving out of their bitcoin
positions in favor of ethereum, and the CoinShares survey shows
that this might only be the beginning. Related Reading
| Umbrella Network Announces New Launch: Decentralized Oracles
On Ethereum Mainnet Investors Want Ethereum The CoinShares survey
shed light on investors’ sentiment around the top crypto projects
in the market. When asked, 42% of respondents said that they saw
the most compelling growth outlook for Ethereum. While 18% said
that they saw a compelling growth outlook for bitcoin. The survey
showed that Ethereum was regarded as the project to grow the most
in the coming years. ETH price settles at $3,600 | Source: ETHUSD
on TradingView.com This does not although take away anything from
bitcoin. Blockchain structuring has allowed Ethereum to be at the
forefront of one of the most important investment spaces in crypto;
the DeFi market. The bitcoin blockchain is gearing up to compete in
this space against the likes of Ethereum and Solana with the launch
of smart contracts on the network. Expanding the crypto-asset’s
utility beyond just its monetary policy. Investors Reveal Reasons
For Investing When asked what the biggest motivator for investing
in cryptocurrencies was, the top answer was surprisingly not the
value of the assets themselves or even diversification. 35% of
respondents said that they were investing in the market because the
assets were speculative. Only 25% said they used cryptocurrencies
as a way to diversify their portfolios. With about 15% investing
for the value of the assets. Respondents also said that regulation,
restrictions, and volatility were the biggest hindrance to
investing in the crypto market. Regulation also made the top when
respondents were asked about the key risks associated with digital
assets. A combined 58% said government bans and regulations
currently pose the biggest threat to the digital assets market.
Related Reading | Last Resistance Before Ethereum At $5K?
Expert Predicts Q4 In The Green Despite growing interest from
institutional investors, individual investors still dominate the
cryptocurrency market. 45% of investors said they were invested in
the market individually. While Europe and the Middle East possess
the largest amount of domiciled funds, with about 70% saying their
funds were domiciled in the region. Featured image from Forkast,
chart from TradingView.com
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