Cryptocurrencies
NFTs, DeFi Boost for Ethereum Dims Clamor of Bitcoin Maximalists
- Ether has gained 350% this year versus Bitcoin’s 60% advance
- August marked Ether’s second monthly rise and best since April
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Surging demand for NFTs and DeFi apps is allowing backers of Ethereum to dampen the cacophony of Bitcoin maximalists who have long claimed that only the original cryptocurrency matters.
Ether, the native token of the most-used blockchain, jumped 36% in August, more than double the 13% return for holders of the biggest digital asset by market value during the same period. So far this year, Ether is outperforming Bitcoin by the widest margin going back to at least 2018, Bloomberg data show.