Odaily News Nick Tomaino, founder of 1confirmation, published an article explaining why ETH surpassed BTC. He pointed out that although BTC has achieved a market value of 2 trillion US dollars with the concept of "trustless value storage", it has now evolved into an asset favored by institutions and governments, with high concentration and lack of practical application support. One entity holds more than 2.5% of BTC, and its ecosystem lacks practical applications that can attract new users.
In contrast, ETH is a credible and neutral Internet native value storage. As the underlying asset of the developer platform, it supports key tracks such as stablecoins, DeFi, NFT, prediction markets, decentralized social and identity. Almost all new use cases that have driven the development of the industry in the past decade were born on Ethereum and are continuing to grow. These applications not only expand the scale of crypto users, but also continuously enhance its scarcity through ETH as a settlement and collateral asset.
Nick said that it is wrong for extremists to advocate that there is only one credible and neutral store of value. Although more options may appear in the future, there are currently only two truly viable options: BTC and ETH.