Will Ether Outpace Bitcoin?

In short, my answer is yes – Ether will outpace Bitcoin, and may be sooner than we think.

Ether vs Bitcoin

Both Bitcoin and Ether have made incredible strides recently – Bitcoin has doubled this month and Ether has doubled in just this week. I see both currencies holding a dominant position in the cryptospace for years to come, but my bets are with Ethereum for a couple of reasons.

Ethereum’s Features

Ethereum is effectively the evolution of Bitcoin – a virtual machine that runs on the blockchain, powered by a cryptocurrency. Instead of just a digital currency, Ethereum provides much more native flexibility for spending Ether. It doesn’t depend upon a 3rd party vendor to legitimize the currency like Bitcoin. Ether operates as a fuel for the Ethereum platform, effectively letting it’s users pay for 100% uptime and computing power.

The Acceptance of Ethereum

During Consensus 2017, 86 companies decided to join the Enterprise Ethereum Alliance, providing a boost of faith in the platform. This helps to legitimize the platform from a professional viewpoint. Moreover, the alliance members can provide input and feedback, helping Ethereum grow and meet the needs of  corporations and consumers alike.

Recently, nearly any exchange that allows the purchase of Bitcoin is branching out into other cryptocurrencies. Often the first of which is Ether. This allows consumers to purchase Ether directly, removing the hassle of using Bitcoin as an intermediary.

Timeline

As of today (5/25/17) Ether is creeping up towards half of Bitcoin’s market cap (42%). Compare this with the beginning of the year where Ether was just 4% of Bitcoin’s market cap. At this rate, we could see Ether pass Bitcoin by the end of the year. But with markets as volatile as these, it’s hard telling what could happen.

 

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