In general, it is the altcoins that make the largest price movements simply because the market value is lower. But in recent months, ether (ETH) has not outperformed bitcoin (BTC) much. But according to some analysts, that could only change.
Ethereum ‘better’ than Bitcoin?
Michael Safari of Dexterity Capital stated On CoinDesk that according to him the future does not lie with Bitcoin, but with Ethereum. “Bitcoin is going to be the boring old grandpa,” he stated. During these uncertain times in crypto land, no one is looking at tokens other than bitcoin, while according to Safari, bitcoin is naturally stable. Unlike Ethereum, the BTC network does not have major upgrades every so often.
Many cryptocurrencies also face regulatory uncertainties. Even Ethereum has not escaped this. Similarly, this altcoin would also be issued as an unregistered security. Crypto staking via crypto exchanges has now been banned for retail customers in the United States. The Securities and Exchange Commission (SEC) has imposed hefty fines on exchanges such as Kraken, as a result of which many platforms have already chosen to omit the functionality altogether.
Meanwhile, bitcoin has far fewer problems with governments. Namely, the largest crypto would clearly be some kind of digital commodity, which is why it largely escapes regulatory issues. According to the Dexterity CEO, these are important reasons why ethereum has barely outperformed bitcoin – it is theoretically less secure.
Ethereum Shapella upgrade done
The Shapella upgrade took place last Wednesday. This makes it possible for ETH investors who have locked their coins into a staking smart contract to ‘un-stake’ their tokens so they can use their tokens for something else – for example selling.
Many investors expected the ether price to crash after last Wednesday. Instead, the price continued to rise steadily. However, many tokens have been removed from the staking contract.