Ethereum (ETH) is on a rising spree in 2020 w.r.t price. But its network is also established and increasingly proving quite significant.
Bitcoin Supporters Should Own Some ETH for Upside Potential
BTC blogger, Sylvain Saurel, looked at the reasons Ethereum is here to stay, and why Bitcoiners should not diss the project outright. Saurel believes Bitcoin (BTC) remains unique, but there are also good reasons to start owning at least some ETH tokens.
5 Reasons Why You Should Consider Ethereum Even if You Are a Bitcoiner #Ethereum #Bitcoin #Crypto #Cryptocurrencies #Cryptocurrency #Investinghttps://t.co/ACdAkDSs7R cc @crypt0snews @GoCryptoCrunch @sebbourguignon
— Sylvain Saurel (@ssaurel) February 22, 2020
In 2020, Ethereum already has a large and well-established ecosystem, with Maker (MKR) alone showing the potential for decentralized finance. This gives a boost to ETH, as the combined market capitalization of all projects is even more significant, and competes with the market cap of BTC.
Saurel also believes ETH prices reflect the overall sentiment of the entire altcoin market and serve as a proxy for overall altcoin investment.
“By buying and then hodling ETH from Ethereum, you ensure that you benefit from the significant potential success of many Altcoins based on Ethereum,” he explained.
Instead of being spread to many illiquid altcoins, owning ETH may be a way to get exposed to any unpredictable altcoin season gains.
Distributed Apps, DeFi Boost to ETH Use Cases
ETH is also a leader in the distributed app space, and thus, owning the token gives exposure to the growth in that sector.