Bitcoin (BTC) and Ethereum (ETH) rivalry is a hot topic in the news. Bitcoin has been holding a good position in the crypto sector for years but from the last 12 months, it seems like Ethereum is coming like a threat for Bitcoin as it has been raised by 231%. Some bitcoin owners are worried after seeing good growth in Ethereum. They have a fear that Ethereum may go ahead in the cryptocurrency market undertaking bitcoin.
Many experts have told Cryptonews.com that this rivalry between both the tokens can benefit the cryptocurrency market. Both the tokens have their own space and benefits but somehow this rivalry has overstated.
Ethereum Beats Bitcoin in 2020
DeFi has been a great support to Ethereum which helped it to rise by 580% (in terms of value locked in) over the year. DeFi’s growth helps Ethereum’s network to grow more. Bitcoiners are worried about seeing good growth in Ethereum’s network. It has been said that DeFi can be helpful to bitcoin also or maybe it will be a worse neutral.
Crypto compares CEO and co-founder Charles Hayter also believes that DeFi and Ethereum can be somewhere beneficial for Bitcoin. If you are interested in bitcoin trading visit https://bitcoinup.trade/.
What will Change with Ethereum 2.0?
The launch of Ethereum 2.0 will help bitcoin and will be a push for DeFi and ETH. Ethereum 2.0 will continue to grow maybe more and can affect bitcoin at some point. This move will be beneficial for Ethereum network and ETH and will also benefit the entire crypto business.
Everyone in the market is waiting for the rivalry between Bitcoin and Ethereum. Looking forward DeFi has a stronghold if we talk about long term business. Garth Travers manager of Synthetic communications says “my personal belief is that DeFi will continue to grow from here and to where it will grow no one can say, but there is still a lot of capital allocated to legacy projects that are accomplishing value.”
Most of people think bitcoin won’t be affected too much even if DeFi still continues to grow. At a point, some experts say bitcoin’s position is protected by Ethereum as they both serve a different purpose.