This comparison is on everyone’s lips, and we have already touched on this issue. But more and more opinions are heard that the first and leading cryptocurrency is kind of outdated and is in danger of losing its leading position in the market. Is it like this? LATOKEN experts want to go into the matter.
The share of ETH on the crypto market is about 17%, while Bitcoin is over 43%. However, in April-May of this year, the leading crypto has already shown a downward trend in dominance while Ethereum was winning back positions.
One of the reasons for the rally of the second most popular cryptocurrency was the issuance by the European Central Bank of digital bonds on the Ethereum blockchain in the amount of $100 million. But there are also other equally important factors that increase interest in the altcoin, including:
- Euphoria in the cryptocurrency market
- The launch of Ethereum futures trading on the Chicago Mercantile Exchange (CME) in February
- High NFT trading volume
- Significant growth in DeFi on Ethereum
Some crypto experts believe that Ethereum is a better investment than Bitcoin for the coming year. Many are sure that Ethereum has every chance of reaching the mark between $5,000 and $10,000 by the end of 2021.
Billionaire Mark Cuban also praises the prospects of the Ethereum blockchain; it has a higher transaction speed than Bitcoin and makes it possible to create decentralized applications thanks to smart contracts. Another factor that Cuban highlighted is the release of Ethereum 2.0.
More Advantages of Ethereum Over Bitcoin
Vitalik Buterin published the Ethereum white paper in 2013, and the network was launched in 2015. Then the project was called «the next generation of crypto» thanks to the possibility of creating smart contracts that were not provided for in the blockchain of the leading cryptocurrency.
In fact, Ethereum is a distributed decentralized virtual machine for creating smart contracts. At the moment, it is the most popular blockchain in terms of the number of organizations implementing it. Ethereum (ETH) is used by large corporations and government bodies, including the European Investment Bank.
Another significant advantage of Ethereum is the ability to issue NFT tokens. All the most popular NFT platforms use this particular blockchain. As far as you know, the Bitcoin network does not provide an opportunity to issue non-fungible tokens and create smart contracts. DeFi is impossible without smart contracts.
But Bitcoin also has its advantages. It is the trust of users as to the very first and famous cryptocurrency and limited emission. The total number of BTC is currently about 18.7 million, and their total number is limited to 21 million. The Ethereum (ETH) emission is 116 million and has no restrictions.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.
