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JPMorgan Chase Analysts Say Ethereum Will Continue To Outperform Bitcoin
Summary: According to a report from Market Insider, JPMorgan Chase analysts stated in a recent report that the Ethereum blockchain is at the forefront of decentralized finance, so its native token ETH captures value from DeFi applications, as well as games, NFTs, and stablecoins. In contrast, Bitcoin is thriving in an environment of ultra-low interest rates and ...
According to a report from Market Insider, JPMorgan Chase analysts stated in a recent report that the Ethereum blockchain is at the forefront of decentralized finance, so its native token ETH captures value from DeFi applications, as well as games, NFTs, and stablecoins.
In contrast, Bitcoin is thriving in an environment of ultra-low interest rates and large-scale asset purchases, but central banks are reducing asset purchases to ease high inflation, which means that interest rates and bond yields are expected to begin to rise.
JPMorgan Chase analysts stated that it is better for investors to hold Ethereum, which has more uses than Bitcoin. The report reads: "The rise in bond yields and the eventual normalization of monetary policy is putting downward pressure on bitcoin as a form of digital gold."
However, analysts stated that these two cryptocurrencies seem to be overvalued at the moment because they are too volatile for most institutional investors.
By Mary Liu
Tags: BTC,ETH,JPMorgan Chase
Link: JPMorgan Chase Analysts Say Ethereum Will Continue To Outperform Bitcoin [Copy]
