The cryptocurrency platform Coinbase has released its annual report. He indicates that institutional investors continue to favor Bitcoin (BTC), but that Ether (ETH) has also appeared in their portfolios in 2020. A good sign for the price of ETH?
Institutional Investors Turn More to Ethereum (ETH) Assets
Are institutions behind the latest breakthrough in ETH’s price? This is what emerges from a new report from Bitcoin Rush, which takes stock of the year 2020. The exchange explains that there are several reasons behind this relatively new interest. On the one hand, price performance, which was consistent in 2020. From January to December, ETH thus rose by + 487% , where BTC posted an increase of + 321%.
ETH comparison of other assets
On the other, the particular status of Ether. According to Coinbase, institutional investors see in ETH a strong potential for evolution in terms of its status as a store of value. In addition, they see cryptocurrency as a “ digital commodity“ , which is necessary to make transactions work on the network. The entire architecture of Ethereum is proof of its strength for institutions, according to Coinbase: