Ethereum (CCC:ETH-USD) is in the news Thursday after Goldman Sachs named it as the cryptocurrency with the highest potential.
According to the firm, ETH has several advantages over Bitcoin (CCC:BTC-USD) that make it a better candidate for real-world use. That includes the platforms use as a smart contracts enabler. This allows for the automatic completion of digital contracts.
The take from Goldman Sachs is that ETH has more potential in this due to its smoother operations over Bitcoin. BTC takes longer to complete transactions and instead focuses more on “hard money and network security.”
Here’s what Goldman Sachs said about ETH in a report cited by CoinTelegraph.
“[Ether] currently looks like the cryptocurrency with the highest real use potential as Ethereum, the platform on which it is the native digital currency, is the most popular development platform for smart contract applications.”
Other Ethereum news worth looking into is the “flippening.” This is an event that crypto traders have been keeping an eye out for. It would have ETH surpassing BTC in terms of market capitalization. Some believe that the process has already started and may only take a couple of years to complete. You can learn more about that by following this link.
ETH was down 8.4% and BTC was down 5.4% as of Thursday morning. ETH is up 189.4% and BTC is up 12% since the start of the year.
Crypto traders looking for more news about their favorite digital assets don’t have to head far.
InvestorPlace.com offers a wide variety of market news and that includes what’s happening in the crypto space recently. A few examples of what we have today includes crypto developer Circle and Concord Acquisition (NYSE:CND) preparing for a SPAC merger, catalysts that could send Cardano (CCC:ADA-USD) higher, as well as a deeper dive into ADA. You can find all of that by following the links below!
More Crypto News for Thursday
- Dear Crypto Fans, Watch CND Stock and the New Circle SPAC Merger
- These Catalysts Could Push Cardano’s ADA to New Heights
- New Partnerships Aside, Cardano Is Still All About Utility
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.