The productivity disparity has widened to more than 400 percentage points.
Ether has outpaced Bitcoin the most this year since the launch of its own Ethereum network token as an alternative to the original cryptocurrency in 2015.
Both are down from all-time highs reached earlier this month, with Ether up around 530 percent since December, while Bitcoin has tripled in value, widening the performance gap by over 400 percentage points.
Ether has a strong connection with other crypto sectors.
“The most significant difference between Ether and Bitcoin is that Bitcoin has a much stronger connection to other crypto development sectors, such as DeFi, non-fungible tokens, and the so-called metaverse,” according to Stephen Wellett, CEO and co-founder of crypto platform FRNT Financial Inc…
Ether powers the Ethereum network, which is the most popular blockchain for thousands of decentralized apps and has grown in popularity this year. It has also been updated in order to make it more scalable and faster.
The token is on its way to all-time highs, a surge that was delayed late last week due to increased legal uncertainty, but Ether has broken higher and rallied roughly 13% after bouncing off its 50-day moving average on Monday.
According to data provided by digital asset manager CoinShares, Ether rose 4.9 percent to $ 4,671 on Tuesday. Investors bought nearly $ 23 million worth of Ether for the seventh week in a row.
Ether has outperformed Bitcoin with the exception of four months this year, and it is leading for the second month in a row in November. Ether is currently worth about 8% of Bitcoin’s current value. Bitcoin fell 1.9 percent to $ 57,221 on Tuesday, after reaching a high of around $ 69,000 in early November.
“I’m not getting too excited about this, but Ethereum recently overtook Bitcoin.” “This demonstrates that Ether has surpassed Bitcoin as the most popular cryptocurrency among investors,” said Miller Tabak & Co.’s chief market strategist, Matt Meili.