A glance at the charts shows you two glowing cryptocurrency assets – bitcoin and Ethereum. Sitting at the first and second position, bitcoin and Ethereum has dominated modern cryptocurrency markets. Both play important roles in the growth of blockchain technology. Bitcoin retains the ‘alpha’ figure and the pioneer image. Ethereum stands tall as one of the most technologically advanced blockchains of the early cryptocurrency days; Not sure if it still bears that image currently, but yeah, it deserves its place on the charts.
Bitcoin dominates the cryptocurrency market capitalization; in a market worth over $850 billion, bitcoin accounts for over 55% of the whole cryptocurrency market capitalization, sitting comfortably at the top with over two hundred (200) billion dollars in total market worth. Bitcoin maximalists continue to bask in the glory of bitcoin’s market prowess, the entire crypto space unarguably benefits from bitcoins heroics.
Well, hitting the market with 1000USDT, what would you love to buy? You probably have your eyes set on some altcoins, Defi coins especially. But, wait…there are only two options here; bitcoin and Ethereum. What are you buying? Let’s talk about it! Hit the comments with your choice and why!
Two options, two relatively different figures, yet very much alike. Bitcoin and Ethereum; while one is one of the most valuable digital assets and a popular store of value, the other represents an advancement from the ‘store of value’ notation and goes miles more to portray the utility potential of blockchain technology. I will leave you to decide which one fits each description.
Not going into criticism of any choice, you’ll probably be right with any choice you make…if price and return on investment were the major aims. That won’t be the case if we had to focus on utility for a second.
Different altcoins solve important problems and with each new reputable altcoin project comes new solutions and/or an improvement on existing solutions to further emphasize the utility of blockchain technology. Ethereum leads this space of ‘utility blockchains’.
The perception of bitcoin as just a store of value gave birth to the much-heated comparison between bitcoin and gold. However, blockchain technology and cryptocurrencies are more useful than this. This orientation places cryptocurrencies in the same position as gold. Gold remains a term of luxury and a store of value despite being almost as old as man itself.
But in the real sense, bitcoin and gold have some correlation, this is different with Ethereum, being a really useful blockchain. Relative to its utility, Ethereum is pretty much an undervalued asset, many would argue against this. The real market capitalization of Ethereum would be the cumulative capitalization of Ethereum smart contract tokens and Ethereum itself…that’s hilarious, I know.
I do have a very strong conviction about Ethereum. Apart from transaction fees that get outrageous at times, slow transaction speed, and poor scalability it has been pretty much more stable than any other altcoin project.
Ethereum housed many notable projects before they launched their mainnet, the ICO boom was a brainwork aided by the Ethereum blockchain. A good percentage of autonomous altcoin projects only surfaced and survived because they utilized the Ethereum blockchain.
Ethereum is far from done in its duty of bringing new projects to life and housing existing ones while spreading the real virtue of blockchain technology. In the real sense ‘Ethereum lead, most other altcoins follow’. Decentralized finance projects are rampaging the crypto space.
Decentralized financial (DeFi) systems comprise applications built on top of blockchains that facilitate permissionless financial services and provide a seamless option for running financial activities. DeFi hopes to introduce the core virtues of blockchain technology to the financial system.
DeFi projects are expanding the scope of financial systems, shifting the paradigm from ‘portable means’ of payments to smart contract applications running independently on a parent blockchain and offering advanced financial services such as insurance, lending, wealth management, and an array of other financial management using blockchain resources and exhibiting desired blockchain features such immutability, security, privacy, speed, and interoperability.
Way before Defi became a thing, Ethereum has been ruling the crypto space in terms of bringing real utility to the technology and supporting the creation of utility projects. A couple of autonomous projects still bear a striking resemblance to their parent blockchain – Ethereum.
Past the (probably first) DeFi boom, Ethereum has moved on to tackle the biggest issues that have plagued its systems for years past. Following the merge and the switch to Proof of Stake, the smart contract blockchain has cut down the power consumption rate and will move to improve scalability and seek more cost-effective technologies.
Layer-2 projects, fintech applications, and Ethereum blockchain is simply a ground for anything to grow. Arguably not so fertile with the slow and ‘costly’ transaction, but seriously getting there, hopefully.
Your choice defines you. An investor who prefers “financially powerful” assets and dominating assets will easily throw 1000 USDT on bitcoin. In contrast, a technology enthusiast who sees blockchain as a technology poised to make even more history in the future will surely pick up some Ethereum. The preference is completely non-sentimental.
Over to you, what would you buy with 1000 USDT if the only option was bitcoin and Ethereum?
Follow up with CRYPTOCURRENCY SCRIPTS to stay refreshed in the crypto space with comprehensive articles and important tips.
Hire a freelance writer
