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Ether Seen Outperforming Bitcoin in 2025, Steno Research Says
Ether could more than double in price next year and reach at least $8,000, the report said.
What to know:
- Ether is expected to outperform bitcoin next year, the report said.
- Steno said ether could rise to at least $8,000 in 2025.
- Altcoins will be in focus next year as bitcoin dominance is predicted to fall, Steno said.
Ether (ETH), the second-biggest cryptocurrency by market cap, is likely to outperform larger rival bitcoin (BTC) in 2025, Steno Research said in a report Sunday, citing historical trends and Donald Trump's U.S. election victory.
Bitcoin is predicted to reach a minimum of $150,000 next year, up from about $94,000, while ether will more than double to at least $8,000 from $3,400, the report said.
STORY CONTINUES BELOW
Steno said it expects the ether/bitcoin ratio to rise to 0.06 in the next 12 months from the current 0.0357, echoing the price action seen in previous cycles.
Altcoins will be in focus, it said.
"This expectation is partly based on the argument that Donald Trump's U.S. presidential victory is more favorable for altcoins than for bitcoin," analyst Mads Eberhardt wrote.
Bitcoin's market dominance is predicted to drop to as low as 45% from its current level of about 56.6%, the note said.
Total value locked (TVL) in decentralized applications is forecast to hit a new high of $300 billion next year, Steno said, and if the prediction is correct, it further supports the argument for higher altcoin prices.
The potential introduction of new cryptocurrency exchange-traded funds (ETFs) in the U.S. also bolsters the positive outlook for altcoins, Steno said.
"2025 will witness institutional adoption of crypto on an unprecedented scale," the report added.
Read more: Bitcoin to Hit Record Around $185K in 2025 as Nation States Buy: Galaxy Research
Will Canny
Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He's now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL.
