Joey Krug: “In 10 years, half of the financial transactions will take place on Ethereum”

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Pantera Capital Investment Director Joey Krug believes that nothing threatens the position of Ethereum and in 10 years more than half of the world’s financial transactions will be carried out on Ethereum.

During an interview with Bloomberg, Joey Krug emphasized that Ethereum’s “rivals” will not succeed in knocking the second cryptocurrency off its pedestal. On the contrary, Vitalik Buterin’s project will continue to develop rapidly and attract financial companies, and eventually become an important participant in the global financial system.

“In 10 or 20 years, a significant proportion of financial transactions, maybe even half, will use Ethereum in some way,” Krug said.

In his opinion, Ethereum will retain its leading role for decentralized finance projects. Growth should accelerate after the transition to the Proof-of-Stake consensus algorithm and the full launch of ETH 2.0. Krug said that Pantera Capital is making a serious bet on Ethereum and investing in ETH is one of the company’s priorities.

However, JPMorgan analysts disagree with Krug. So, the bank’s senior strategist Nikolaos Panigirtzoglou recalled that the growth of Ethereum’s competitors in the face of Cardano, Solana, Terra and Avalanche exceeds the performance of the second cryptocurrency. This is also evidenced by the fact that the share of Ethereum in the DeFi market has decreased from almost 100% at the beginning of 2021 to 65% by the end of the year.

Recently, Ethereum co-founder Vitalik Buterin launched a vote on Twitter to choose the most promising cryptocurrency. The coins of the Cardano and Tron projects won.

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