Ether will overtake Bitcoin as the number one cryptocurrency in 2022, boosting global finances.

Rahul Rai, a 24-year-old hedge fund founder, believes Ethereum could outperform Bitcoin over the next six months or so.

At the same time, it is possible for Ethereum to "power the entire world economy" using DeFi.

Ether recently hit an all-time high and the total network value is around $ 100 billion.

Crypto hedge fund manager Rahul Rai believes the market value of Ether, which surpasses Bitcoin, which experts call "flip penning", will hit the market before the next half-year.

After CME Group, the world's largest exchange maker, announced it would launch micro-Ethereum in the near future in December, the Ethereum network token broke all highs of $ 4,600 this week.

An improvement has supported the rise of Ethereum, and these improvements have helped meet the growth of digital activity beyond pure cryptocurrencies.

Facebook recently announced that it will be changing its name to Meta to expand its operations in the Meta Zone, and the Meta Site Sandbox games platform is raising $ 3 million a day. BTS is about to launch a digital photo card in the form of an nft (Non Fungible Token). This week, BTS teamed up with South Korea's largest cryptocurrency trader.

According to data from The Block, the total costs of shutting down the Ethereum network are now around $ 100 billion. However, in terms of market value, Ethereum still lags behind Bitcoin. Rai, managing director of the controversial BlockTower Capital business, said the situation would not last long.

The 24-year-old developer told Insider, “I think Ethereum has a great way through Bitcoin. If that happens in this cycle, I wouldn't be surprised,” he told Insider.

"It is difficult to predict when this cycle will end," he said. I guess it's the next semester. "

Bitcoin is the number one cryptocurrency with a market value of over $ 1,000 billion, while Ethereum ranks second among its competitors with a market value of $ 535 billion.

Two years ago, Bitcoin made up almost 67% of the total cryptocurrency market, but its share has fallen to 45%. At the same time, Ethereum's market share has generally increased from 8.5% to almost 20%.

This year, Bitcoin hit an all-time high of nearly $ 68,000, led by large investors, and joined cryptocurrencies in their wallets as a way to have a different kind of insurance and financial protection.

"Bitcoin is the digital gold and value market. The market price is therefore at best close to gold.- It can be bigger because it has slightly better material than gold. But that's roughly the measurement "used to limit the size of the store," Rai said.

Gold now has a market value of around $ 11 trillion, according to CompaniesMarketCap data.

Rai sold his cryptocurrency investor Gamma Point Capital for $ 35 million this year and said the diversity of the Ethereum network will be key to attracting developers and investors.

Ethereum is a one-tier network that enables payments, loans, transactions, and sharing. Support P2P operations without having to interact with businesses or banks. Unlike Bitcoin networks, blockchains are programmable, allowing them to run other applications such as smart contracts, NFTs, and metavers.

“Ethereum is trying to support the development of a global business in the future. If it is successful, it will become a bigger business,” Lai said.

"If implemented in practice, this idea could be worth millions of dollars in international operations if known," he added.