#Write2Earn Bybit crypto exchange analysts report that Ethereum has overtaken Bitcoin in volume in the portfolios of financial institutions, which is associated with the expected update of the blockchain called Dencun. The successful implementation of this update could lead to an increase in the value of ETH. In addition, Ethereum has also outpaced Bitcoin in terms of growth since the beginning of the year, which is explained by the transition to the Proof of Stake (PoS) consensus algorithm and the growing popularity of staking.
Ethereum has already surpassed BTC in some ways
Analysts at the Bybit crypto exchange report that Ethereum has overtaken Bitcoin in volume in the portfolios of financial institutions, which is associated with the expected update of the blockchain called Dencun. The successful implementation of this update could lead to an increase in the value of ETH. In addition, Ethereum has also outpaced Bitcoin in terms of growth since the beginning of the year, which is explained by the transition to the Proof of Stake (PoS) consensus algorithm and the growing popularity of staking.
According to a Bybit report, institutional investors are rebalancing their portfolios towards Ethereum, while retail traders are more bullish on Bitcoin. Institutional investors have also reduced their positions in altcoins, including memcoins and BRC-20 tokens, focusing on more stable assets such as layer-one network tokens and decentralized financial protocols.
Ethereum developers are planning a Dencun hard fork on the mainnet on March 13th, which will introduce changes to transaction fees and could reduce the amount of ETH burned.
