Pantera Capital CIO Finds Competitors Can’t Beat Ethereum

by in Blockchain News

Pantera Capital Ethereum

Serial entrepreneur, co-chief investment officer at crypto-focused hedge fund Pantera Capital, Joey Krug finds that although crypto protocols are growing, Ethereum will keep dominating the market with the biggest share.

Related: Vitalik Buterin About the Ethereum Roadmap and Where It Is

Moreover, during an interview with Bloomberg, Krug said that, possibly in 10 or 20 years, a large part of fin. transactions, which can be 50%, will be somehow connected to Ethereum, shaped or formed with the use of the protocol. Krug said that Ethereum's native crypto ETH sits among Pantera Capital Management LP's top 3 positions across funds.

Founded in 2013, Pantera is one of the leading 5 crypto-specialized funds with $5.8 bln in assets.

Krug assumes alternatives will use Ethereum as a fundamental network as the protocol changes from the Proof of Work consensus mechanism to the Proof of Stake. With Layer 2 solutions it will overcome issues of scalability and high fees.

Pantera Capital CIO said there are too many significant trade-offs that other blockchains don't offer. According to Krug, there’s no other chain that suits the new worldwide settlement layer so well as Ethereum.

Data from DeFi Llama show that Total Value Locked in Ethereum’s smart contracts currently stands at over $143.6 bln. It's 62.6% among all the chains. Next comes Terra, which TVL is $17.02 bln.

Trending: Wells Fargo Says Crypto Can Be a Part of the Next Digital Era

Ethereum’s native coin Ether is the second largest crypto, coming after Bitcoin. It has a market cap of over $19.9 bln. At the moment, ETH trades at around $3.100.