Could Ethereum become the most popular cryptocurrency?

Survey says 68% of people would be most likely to invest in Ethereum

Ethereum, the decentralized, open-source blockchain developed by Vitalik Buterin in 2013, is becoming more and more popular. That is according to a recent survey, which said that 68% of people would be most likely to invest in the second largest cryptocurrency, behind bitcoin.

The survey also said that 18% of people would opt to invest in bitcoin, while 14% remain undecided. In addition, there are other indicators that Ethereum is becoming the most popular cryptocurrency in the eyes of investors.

Over the past seven days, data shows that there were 23,241 negative tweets about bitcoin, while there were 95,521 tweets with positive connotations. On Google, analytics show that “buy Ethereum” is currently outperforming “buy bitcoin” in terms of search volume.

Bitcoin remains a more prominent holding in more people’s portfolios. 37% of eToro customers own bitcoin, while 29% own Ethereum. Bitcoin’s market cap still far exceeds Ethereum’s too, although it is shrinking.

“For a long time, media coverage of cryptocurrencies was dominated by Bitcoin, dubbed ‘digital gold'”, Kryptoszene analyst Raphael Lulay observes. “The topics of decentralised finance and decentralised applications are currently gaining in importance, which seems to be working in Ethereum’s favour.”

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Ether, the digital coin linked to the Ethereum blockchain, rose to an all-time-high of $3,456.57 on Tuesday, as the crypto continued a rally which has seen its value increase by over 350% in 2021.

Sergey Nazarov, co-founder of smart contract network Chainlink, commented on Ehtereum’s rise and influence.

“Thousands of developers are building applications that recreate traditional financial products in decentralized ways on top of Ethereum, and as more and more users pour in to interact with these apps, they require ETH (ether) to conduct any transaction,” he said.

“Second, there seems to be growing institutional interest in the public Ethereum blockchain, as stakeholders play around with ways to leverage the public network.”


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