INSUBCONTINENT EXCLUSIVE:
Ether's market capitalisation was around $306 billion on MondayThe Ethereum platform's potential applications, lower environmental
impact, and technical upgrades are likely to help the ether token continue to outperform bitcoin, Pantera Capital CEO Dan Morehead said.As a
more recent token, ether has further to run than bitcoin, Morehead told the Reuters Global Markets Forum on Monday, adding that the latest
Ethereum Improvement Proposal (EIP) 1559 upgrade will help it trade more like a fixed asset."You'll see a transition of people who want to
store wealth, doing it in (ether) rather than just bitcoin," he added.Scheduled to go live Wednesday, EIP 1559 significantly changes how
transactions are processed on the Ethereum blockchain as well as reduces supply of the ether token
Migration to the upgraded "Ethereum 2.0" will reduce ether's mining energy use compared with bitcoin's large carbon footprint, Morehead
said.The blockchain's use in decentralised finance (DeFi) applications will also support prices, he added
Ether, the world's second-largest cryptocurrency, has more than doubled its price in 2021 to its Monday close of $2,608, compared with
Ether's market capitalisation was around $306 billion on Monday, less than half of bitcoin's $737 billion, according to tracker
CoinGecko.com.Morehead sees bitcoin ending 2021 between $80,000 and $90,000, and rising above $120,000 within a yearIncreased mainstream
April all-time high of $64,895, Morehead said Pantera Capital's funds have attracted institutional investors who are less
"momentum"-oriented than retail investors, and see current prices as a buying opportunity
He also sees increased regulatory scrutiny, such as a global crackdown on cryptocurrency exchange Binance, as a "transition" phasePantera,
which manages $2.8 billion in blockchain-related assets, has invested in several crypto exchanges including Bitstamp, Coinbase,, and
regional exchanges such as Mexico-based Bitso.
