Institutions choosing Ethereum over Bitcoin : JpMorgan

JpMorgan analyst claimed that most of the financial institutions are looking for Ethereum over Bitcoin. 

Nikolaos Panigirtzoglou is one of the analysts of JpMorgan giant Bank. In an interview with Business Insider, Nikolaos said that financial institutions are showing healthy demand for the second biggest crypto asset over Bitcoin. 

“We look at the hashrate and the number of unique addresses to try to understand the value for Ethereum. We’re struggling to go above $1,500”

In actuality, Nikolaos took the reference of decline in the number of Bitcoin futures contracts traded on CME since August. 

Here we should not see the current situation of Ethereum because of CME group reference because there are many other factors, which are totally in favour of Ethereum. 

Demand of Ethereum increased after the special fork in Ethereum to burn the fees of Ethereum network, so that Ethereum can easily move toward the deflationary blocks. 

And also one important fork soon, Ethereum team will perform, that is, Proof-of-work to Proof-of-Stake shift of Ethereum blockchain to make it more efficient and more better toward the environment and adoption.

Since there are many people who claim that the decision of Vitalik, founder of Ethereum, is wrong and they should not force Ethereum blockchain into another change. 

Read also: Indian Finance Ministry seeks new crypto Tax framework