Ethereum Will Not Flip Bitcoin After the Merge: Nexo Co-Founder

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According to Antoni Trenchev – Co-Founder of the cryptocurrency lending platform Nexo – Ethereum’s Merge is “the most important factor” that has occurred in the protocol’s historical past. However, he doesn’t consider it’s going to assist Ether surpass Bitcoin as the most dominant digital asset.

The govt additionally expects ETH’s worth to surge when folks notice the advantages of the transition to Proof-of-Stake (PoS), however not instantly after it happens.

Bitcoin Will Stay at the Top

Ethereum’s shift from PoW to PoS, which occurred earlier immediately (September 15), has brought about quite a few debates over the previous a number of months. Experts weighed in on the way it will profit the blockchain challenge and the entire business, however some warned that it may turn into a “purchase the rumor, promote the news” occasion.

In a latest interview for Bloomberg, Nexo’s Co-Founder and Managing Partner – Antoni Trenchev – outlined the greener focus that Ethereum can have from now on, and that Ether will transfer from “basically an inflationary kind of asset” to a deflationary one.

Nonetheless, he thinks that even after “The Merge,” Ether doesn’t have an opportunity to steal Bitcoin’s supremacy and turn into the largest cryptocurrency:

“Anyone who’s writing off Bitcoin, I feel that’s too quickly.”

Trenchev mentioned he’s “extremely bullish” on these property and holds them each in his portfolio for the long term. He admitted growing his ETH publicity a couple of months in the past, anticipating that the coin’s worth will surge after the shift to PoS.

Unlike some people who anticipate Ether’s valuation to skyrocket proper after the occasion, Nexo’s govt believes it’s going to take a while. People ought to first notice the use-cases of that growth, after which a worth surge may observe:

“I purchased in round $1,300, rolled all of it the manner as much as $2,000, now it’s round $1,600. There is a case to be made that a considerable amount of the hype is already priced in, so there is likely to be a coming down a bit bit, however I feel in the end, as soon as folks see the advantages, this can play a really bullish function in the mid and long run.”

Antoni Trenchev
Antoni Trenchev, Source: Bloomberg

Mark Cuban’s Thoughts

A month in the past, the American billionaire Mark Cuban gave his two cents on “The Merge,” too, arguing it may become a double-edged sword.

He warned that the big enthusiasm surrounding the occasion may surpass its precise use-cases, and thus, Ether’s worth may stall and even fall after the transition.

As of the second, his prediction appears fairly correct since ETH trades at almost the identical degree it used to previous to the shift to PoS.

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