Ethereum works on smart contracts and powers an entire industry on its own. It is the second-largest cryptocurrency in the market cap and has been rapidly progressing in recent years. It improved seven times more than Bitcoin last year with a 500% increase in its market value.
It is also being used by more application developers thanks to its smart contracts, which provide support for non-fungible tokens. As such, it holds more promise than Bitcoin and has been growing at a much higher pace than Bitcoin.
As an investor, Ethereum could be the next big thing, and its vast range of application areas means that it is set to see more uptake and areas of use. As digital art keeps gaining popularity on the internet, Ethereum is becoming the standard for making transactions.
Even if Ethereum does not get Bitcoin from the first spot, the development community is still working as hard as they can to improve and enhance the cryptocurrency.
The fact that Ethereum has more competitors means that it is evolving fast due to the massive pressure placed on it. It is proving to be useful in many ways, and the competition is only serving to fuel its growth.
From an investment point of view, this means that it is better to invest in Ethereum this year as compared to Bitcoin. The competitors are trying to do the same thing that Ethereum already does very well, which means that stability and sustainability will be what you can expect from the cryptocurrency.
Investors are always looking for the most promising alternatives, and when it comes to cryptocurrency, it would be much wiser to invest in Ethereum than going for Bitcoin. The massive growth rate makes it a cryptocurrency that is not only capable of development but a more stable platform for trading digital art and assets, which are gaining popularity.