Ether predicted to bypass Bitcoin within 5 years
Cryptocurrency adoption has increased 23-fold globally, says a report
Bitcoin, the leading cryptocurrency, traded lower on Wednesday, falling by 1.29 percent to $45,286.61 at 5:31 p.m. Riyadh time while Ether traded at $3,062.01, down by 3.89 percent, according to data from Coindesk.
Nigel Green, CEO of the independent financial advisory firm and founder of the deVere Group, said at a virtual event that he expected Ethereum to continue to outperform Bitcoin, the world’s largest cryptocurrency by market capitalization, and will eventually outpace its rival this year and possibly within five years.
Meanwhile, a study said cryptocurrency adoption has increased 23-fold globally over the past year. Chainalysis released its 2021 Global Crypto Adoption Index, which showed the digital currency is gaining popularity in India, Pakistan and Ukraine where its adoption is waning in China and the US amid regulatory pressures,
CoinDesk reported.
Binance said on Wednesday it had appointed a former US Treasury criminal investigator as its global money laundering reporting officer, part of an attempt by one of the world’s largest crypto exchanges to reinvent itself as a regulated financial firm.
According to a press release, ETC said it will list all of its cryptotraded products on the Vienna Stock Exchange.
The London-based crypto securities will also list Vienna’s first carbon-neutral crypto ETP, the first physical bitcoin ETP, the first litecoin ETP and an ethereum ETP.
According to a new report by Allied Market Research, the crypto asset management market will grow to $9.4 billion by 2030. The increase projected in the report equates to a compound annual growth rate of 30 percent from 2021 to 2030.
In another development, the Evai cryptocurrency ratings platform has set up in Dubai and is collaborating with GlobalBoost to launch its first crypto fund.