Raoul Pal, CEO of Real Vision, has suggested that Ethereum (CRYPTO: ETH) could benefit more than Bitcoin (CRYPTO: BTC) under Donald Trump's administration.
Raoul Pal is set to discuss these insights and the future of Ethereum and Bitcoin at Benzinga’s Future of Digital Assets event on Nov. 19.
What Happened: Addressing his followers on X about the recent surge in the crypto market, Pal noted that while Bitcoin has largely outpaced Ethereum over the past several months, Trump's win could shift the momentum in Ethereum's favor.
This view arrives as Bitcoin reaches record highs, while Ethereum—though underperforming against BTC for most of 2023—has shown signs of narrowing the gap in November, rising 7.06% against Bitcoin.
Pal, who predicted Bitcoin to hit $250,000, outlined two main reasons why Trump's presidency might provide Ethereum with a boost.
Firstly, he believes that Trump's leadership may create regulatory conditions favorable to decentralized finance (DeFi), potentially enabling DeFi utility tokens to offer rewards or yields tied to their specific blockchain networks.
A clearer regulatory framework, Pal suggests, could drive expansion in Ethereum's DeFi ecosystem, enhancing opportunities for staking and other yield-generating activities on the Ethereum network.
As the largest host of DeFi applications, Ethereum stands to gain significantly if these innovations are allowed to flourish.
This regulatory shift could increase Ethereum's network value, making it even more attractive to investors and users as they can access more financial benefits directly within the ecosystem.
According to Pal, such developments may ultimately position Ethereum to outperform Bitcoin in terms of growth.
The second factor Pal highlighted is Ethereum's established position as a widely trusted blockchain within traditional finance (TradFi).
With crypto-friendly regulations likely on the horizon under Trump's administration, Pal anticipates that institutions exploring blockchain solutions for their businesses will favor Ethereum, given its stability and credibility.
He likened Ethereum's role to that of Microsoft in the early days of web technology, stating that Ethereum, as a familiar and reliable platform, will likely serve as the primary blockchain choice for large-scale financial applications.
However, Pal also acknowledged rising competition from other blockchains like Solana (CRYPTO: SOL) and Sui (CRYPTO: SUI), which offer distinct advantages.
Solana, with its faster transaction speeds and lower costs, has gained traction as a potential rival to Ethereum.
Additionally, Sui, in its initial stages of rapid growth, is attracting attention from users seeking lower fees.
While Ethereum may see substantial growth, Pal suggested that newer platforms like Solana and Sui could provide significant competition, particularly for users focused on efficiency and cost-effectiveness.
What’s Next: As Ethereum positions itself for potential growth under Trump's administration, Benzinga’s Future of Digital Assets event on Nov. 19 will offer further insights into regulatory impacts on the crypto space, as experts gather to discuss the evolving landscape for digital assets.
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