The survey says 68% of people are most likely to invest in Ethereum
Ethereum, a decentralized open source blockchain developed by Vitalik Buterin in 2013, is becoming increasingly popular. It says a recent survey shows that 68% of people are most likely to invest in cryptocurrency, the second largest after Bitcoin.
The survey states that 18% of people chose to invest in Bitcoin, while 14% say they remain undecided. Additionally, there are other metrics that Ethereum is becoming the most popular cryptocurrency in investors’ eyes.
Over the past seven days, there have been 23,241 negative tweets about Bitcoin, but 95,521 tweets with positive implications. Google analyzes that “Ethereum purchases” currently outweigh “Buy Bitcoin” in terms of search volume.
Bitcoin remains a more prominent retention in the portfolio of more people. Thirty-seven percent of Etoro customers own Bitcoin, while 29 percent own Ethereum. Bitcoin’s market capitalization is much higher than Ethereum, but has been shrinking.
“For a long time, media coverage of cryptocurrency has been dominated by Bitcoin, known as ‘digital gold,” said Rafael Luray, an analyst at Cryptoszen. “The topic of decentralized finance and decentralized applications is now important. It appears to be working in favor of Ethereum.”
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Ether, a digital coin linked to the Ethereum blockchain, rose to an all-time high of $3,456.57 on Tuesday.
Sergey Nazarov, co-founder of Smart Contract Network ChainLink, commented on the rise and impact of Ehtereum.
“As thousands of developers are building applications that replicate traditional financial products in a decentralized way on top of Ethereum, more and more users join in to interact with these apps. We need ETH (ether) to carry out the transaction,” he said.
“Secondly, there appears to be a growing institutional interest in public Ethereum blockchains as stakeholders play in ways that utilize public networks.”
