Investors prefer Ethereum (ETH) over Bitcoin (BTC), public poll shows

Sat 06 Nov 2021 ▪ 18h42 ▪ 3 min read — by Hugh Renolds

A little over ten years ago, the first cryptocurrency named Bitcoin (BTC) came about and got the crypto ball rolling. These days you can find hundreds of various cryptocurrencies that serve different purposes and have different properties. Of course, some digital assets have become more popular, while others are known only in narrow circles.

Crypto investors have chosen the best cryptocurrency in a public poll

The popularity of a cryptocurrency is often assessed through its market capitalization, but that is, of course, not the only indicator, as confirmed by a recent survey done among crypto investors.

In the survey, investors were asked to choose one of the four leading cryptocurrencies. These included Bitcoin, the undisputed leader in terms of market cap, its main competitor Ethereum (ETH), Solana (SOL), known for its rapid growth during 2021, and the native currency of Binance, Binance Coin (BNB).

It is worth noting that all of the above cryptocurrencies have been very successful lately, as evidenced by their growth in October. In addition, they all managed to attract the attention of investors from all over the world.

Ethereum wins the poll due to its versatility

However, the poll showed different results than what you would expect from market cap figures alone.

First place in the survey was proudly taken by Ethereum. The second was Solana, which is quite fitting, seeing that SOL has earned the reputation of the main contender for the title “Ethereum killer”. An then, Bitcoin and BNB humbly followed, taking third and fourth place respectively, sharing the voting results roughly half.

For some tech-savvy crypto investors, the results came as no surprise at all since many experts have long been talking about the advantages of Ethereum over its competitors. The main argument in its favour is still the variability in the application of ETH because the currency has long been used to implement a large number of various innovative projects, including the non-fungible token (NFT) market.

However, the same can be said for Solana, as thanks to continuous growth throughout most of 2021, this network has become the platform for successfully realising a number of different projects. Moreover, in autumn, even some NFT platforms began to work on Solana.

At the same time, even though Bitcoin did not become the winner in this survey, it continues to hold sway over the cryptocurrency market since it’s still undisputedly viewed as the best defence against inflation.

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Hugh Renolds

I believe in the bright future of crypto. I have been investing since 2017 and look to share my experience in, and thoughts on, crypto and the blockchain.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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