The value of the Ethereum blockchain has been a slow burner for investors, and the Ether token looked like a wannabe when Bitcoin was wowing Wall Street.
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Ever a sleeping giant, Ethereum today is driving DeFi, and the handsome returns investors are making from yield farming and other lending practices.
Here’s why Ethereum should be a cornerstone of anyone’s portfolio, and why it lies beneath the massive renewed interest and resurgence of DeFi.
Bitcoin is a computational methodology.
That is precisely what it is.
When you say it like that, it sounds like a non-asset, doesn’t it?
The value of Bitcoin is firmly based on employing a specific computational methodology, however, and without such architecture, crypto as a phenomenon wouldn’t exist.
Hold that thought for a moment as we go back in time.
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Bitcoin rose to straddle the world stage, but its poor cousin Ethereum was at the time seen as even more computational, even more obscure, and unlike Bitcoin’s tokens (which investors insisted become a conventional asset), Ether seemed a nice idea for techies, and little else.
Enter the surging DeFi arena, currently built exclusively on the Ethereum blockchain, and enter the hour for Ethereum’s real value to emerge.
DeFi is Ethereum’s showcase
Without Ethereum, DeFi wouldn’t exist.
Well, that tells you, when you realize that DeFi has grown from a few million to around $100 billion in value virtually overnight on investors’ terms, that Ethereum’s real value is starting to manifest.
It’s not wild graphs on the exchanges and it’s not fawning retail investors rushing like Wildebeest this way and that.
Ethereum, for those who don’t know, was an arguably better version of Bitcoin, a better blockchain, because of its latent application, and always more respectable because of it.
That didn’t matter at the time of Wall Street hysteria over Bitcoin, but that’s an indictment on investors, not on Ethereum’s innate value.
Ethereum got some things right that Bitcoin didn’t figure out, and as compensation for being labeled interesting but unworthy for years as it lived in Bitcoin’s shadow, it’s having its moment in the sun right now.
DeFi is a massive growth arena, built on Ethereum
Now we can see a multi-billion dollar decentralized marketplace thriving on the back of the Ethereum token, and although it lacks the glamour and wardrobe of Bitcoin, Ethereum’s silent smarts are paying off.
While Bitcoin was the spokesperson in front of the cameras and lights, Ethereum has always been the actual president, the token with the greatest power to genuinely actualize the cryptocurrency world.
No one looking at the legitimate and thus far organic and clean growth of DeFi－not to mention its volume －should miss what’s happening.
All of the potential, all of the hysteria, all of the long-term value that the very notion of cryptocurrencies hinted at or endured, is refined and encapsulated in Ethereum.
The most respectable working crypto, Ethereum should be right at the top of choices for diversification for profit.
The giant is waking up, and those who’ve been there from the start are willing to bet its ultimate value will eclipse even Bitcoin.