Ethereum Ready to Outperform Bitcoin in 2024? Here's the Review from Analysts!

The battle between the two crypto giants is heating up. Ethereum, with its technological innovation, is predicted to outperform Bitcoin by 2024. Meanwhile, Meme Moguls, a platform that combines games and memes, also shows significant growth potential.

Check out a review of the crypto market dynamics that will occur in 2024!
Ethereum: Smart Contract Technology Leader
André Dragosch, head of research at ETC Group , highlighted Ethereum as a leading smart contract platform. Ethereum has been a pioneer in crypto innovation , especially with the introduction of burning mechanisms via Ethereum Improvement Proposal EIP-1559 in August 2021.
The upcoming mechanism is expected to reduce the overall supply of ETH, which will support price increases. Dragosch added that the combination of falling supply and ETH staking returns could be a driving factor for Ethereum to surpass Bitcoin.

Currently, Ethereum is around $2,300, but with these supporting factors, Ethereum has the potential to recover and even experience a price increase in 2024.

Crypto Market Analysis and Projections
Analysis of Ethereum's performance compared to Bitcoin shows a tendency to revert to relative performance averages. Dragosch emphasized that, except for 2023, Ethereum has consistently outperformed Bitcoin since its launch in July 2015.
Coinbase's Crypto Market Outlook report also describes expectations that Bitcoin's performance compared to Ethereum will experience a mean reversion in 2024. However, the report also adds that Ethereum's weaker network fundamentals have so far been an obstacle to a significant price correction.

Nevertheless, with various supporting factors, Ethereum has great potential to experience price appreciation in the future.