3 Reasons Ethereum Is Still a Buy Despite the Competition
There are always bumps in the road. Ethereum's strong developer community, utility, and reliability will help it navigate them.
3 Reasons Ethereum Is Still a Buy Despite the Competition
Overview
Ethereum (CRYPTO: ETH) is barely holding a torch to its big brother Bitcoin these days, but both have a place in a balanced crypto portfolio. Bitcoin accounts for about 60% of the total crypto market cap, compared with Ethereum's 9%. The latter has fallen over 30% in the past year to trade at around $1,665 at the time of writing (June 24).
Ethereum pioneered smart contracts, which are the secret sauce behind decentralized finance, stablecoins, and real-world asset tokenization. It remains a dominant force, but it faces competition from newer, more efficient cryptocurrencies as well as traditional financial organizations that may opt to build their own private blockchains.
Details
However, the crypto's main challenges right now are internal, not external. Another senior figure just left the Ethereum Foundation, and its community is questioning the chain's economics. Both are factors to keep on your radar, but I still think ongoing blockchain adoption could mean Ethereum will soar in the coming five to ten years. Here's why:
Source
Originally published at www.fool.com.
