I think that both look correct, it's more a matter of what you are trying to depict in terms of the size of the character. What I notice most is the difference in the size of the heads. The smaller head gives the impression that the character is taller. If you look at basketball players you can see that much of the time, their heads seem smaller in compared to the rest of their anatomy, when looked at in contrast with someone of a more average height stature, etc. Thus, giving the impression of being much taller.
I don't think that either of the drawings has any advantages over the other, it's more a matter of what you are trying to portray the character as, in terms of stature.