Ethereum will Be Behind 50% of All Financial Transactions in next 20 years: CIO of Pantera Capital

• ETH will be capable of handling 50% of all global financial transactions within the next decade: Joey Krug.

• Ethereum’s dominance in space has increased from about 100 percent at the beginning of last year to roughly 65 percent by the end of this year.

According to Joey Krug, CIO of digital asset investment company Pantera Capital, Ethereum will expand and continue to beat its competitors. Furthermore, the CEO believes, ETH will be handling 50% of all global financial transactions within the next decade.

Pantera Capital was one of the earliest digital asset investment businesses, launching the first Bitcoin-focused investment fund in the United States in 2013. According to Krug, Pantera’s top three positions in all funds are held by Ether, the native coin of the Ethereum network.

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Joey Krug, an early Defi developer and CIO of Pantera Capital, projected that Ethereum will continue to expand to the point where it would become a major component of the global financial arena in a recent interview with Bloomberg. As a result, it’s feasible that 50% of all global monetary transactions will use the blockchain protocol in the next 10-20 years.

ETH killers are winning?

Many so-called “ETH killers,” such as Solana and Polkadot, have gained traction in the last year. They also received a lot of money and a lot of media attention. Krug, on the other hand, feels that these alternative networks will not represent a threat to Ethereum’s power.

High fees and sluggish transaction times are frequently cited as criticisms of the second-largest blockchain project. At the same time, its existing proof-of-work system is seen as energy-intensive and environmentally harmful.

Ethereum, on the other hand, is transitioning to a more sustainable mining model: proof of stake. After this change, the CEO expects that blockchain technology will strengthen its dominance in the cryptocurrency business.

Ethereum supremacy in the market

Analysts at the big global investment bank, whose CEO is Nikolaos Panigirtzoglou, highlighted last week that Ethereum’s dominance in the decentralized finance (Defi) ecosystem is losing. Blockchain protocols such as Terra, Avalanche, and Solana are expected to be formidable competitors by 2021.

As a consequence, Ethereum’s dominance in space has increased from about 100 percent at the beginning of last year to roughly 65 percent by the end of this year. Given that the second-largest crypto project is planning to update its network in 2023, analysts believe rivals will be able to cut the gap even more in the following 12 months.