With the Bitcoin Vs Ethereum rivalry that has taken over the crypto market in recent days, traders are mulling over what it spells for the crypto market.
If the Bitcoin Vs Ethereum rivalry debate came up some previous years ago, everyone would agree that Ethereum could not stand a chance where Bitcoin is concerned.
Ethereum on its own has recorded a massive 232% in the past few months as a result of the inception of the Decentralized Finance. With the enormous patronage that Ethereum has enjoyed in this short term period, one can arguably say it is on the right course to rival Bitcoin for the top spot in some few years to come.
DeFi market was the catalyst behind Ethereum’s boost
Even though Bitcoin itself has enjoyed massive favouritism in the Bitcoin Vs Ethereum debate since the year began, a small part of Bitcoin holders are impressed by the performance of Ethereum this year.
While some are still confident that Bitcoin would still make massive price moves, others are not so sure as regards the movement of heavy investors away from Bitcoin to the Ethereum market.
However, in this regard, a few experts have said that the rivalry between both digital assets is not something that should be taken seriously because each of them provides their essential contribution to the crypto ecosystem.
Ethereum currently ahead in Bitcoin Vs Ethereum rivalry 2020
There should be no Bitcoin Vs Ethereum debate whatsoever this year as Ethereum has managed to come from behind to steal top spot as far as 2020 is concerned.
With the vast chunk of its growth attributed to the DeFi sector, the digital asset has grown to a figure around 580% when the value locked in is taken into consideration. The relationship is beneficial since the majority of the DeFi project use the Ethereum network; they, in turn, help the network grow significantly.
This move has given major Bitcoin enthusiasts sleepless nights as they don’t know what the future holds for both coins when the year ends.