Bitcoin captures all the light. In its shadow, Ether is advancing, even crossing its 2018 ATH. For crypto expert Nick Bel, ETH is therefore an even more promising asset than BTC and a “must-have” in 2021.
Bitcoin is the benchmark crypto-asset among investors. It must be said that its value weighs more than 60% of the entire cryptocurrency market. In addition, the soaring price in recent months makes it a highly coveted asset.
It would be wrong, however, to focus only on BTC. In any case, this is the argument developed by Nick Bel with our colleagues at Cointelegraph. Because another asset deserves the full attention of investors: Ether.
Ethereum, the benchmark public blockchain for projects
The expert recalls in particular that theETH also broke records in January, like Bitcoin. Ethereum’s native cryptocurrency established a new ATH this month, surpassing $ 1,430. His previous record was in 2018.
Bel is therefore convinced, Ether (ETH) is supplanting BTC as the most “attractive” asset. He even believes that it could claim “premier cryptocurrency” status for investors.
Several reasons would allow Ether to continue its growth in 2021 and therefore to attract the market more widely. First of all, it is the place of reference for Ethereum technologies among developers.
ETH docked to the DeFi locomotive
Ethereum is indeed establishing itself as the first platform for the development of blockchain projects and decentralized applications. This record is particularly tangible in the DeFi sector. But the adoption of the ERC-20 token is also proof.
And this preponderance of Ethereum can also be seen through the explosion in transaction volumes. In 2020, these transactions exceeded 1,000 billion dollars. By comparison, it’s more than multinational payments companies like PayPal.
But the main asset of Ethereum and ETH is certainly their place in DeFi, in which the interest of institutions is growing. However, the maturity of this market has yet to increase significantly.
Nick Bel is not alone in pointing out the potential of ETH, however. In a note to investors, expert David Grider considers possible the growth of the price of Ether to new heights. He estimates that its value could be multiplied by 7 thanks to DeFi.