Ethereum Runs Towards Deflation With Upcoming Update, Leaving Bitcoin Behind - Benzinga 1 hour ago
Ethereum (CRYPTO: ETH) has been recently outperforming leading cryptocurrency Bitcoin (CRYPTO: BTC) as investors hope that a network upgrade will soon make the coin a deflationary asset.
What Happened: As of press time, market data reveals that Ethereum's price increased by over 15% over the last 7 days — exceeding $3,000 for the first time in two weeks — whereas Bitcoin's price rose by about 6.5% over the same time.
While it must be admitted that Bitcoin is still faring better when considering the entirety of 2022 (a loss of 10% for Bitcoin compared to 20% drawdown for Ethereum) there is no denying that Ether is seeing a significant buildup in positive momentum.
See Also: BITCOIN VS ETHEREUM
As Benzinga explained in an early February analysis, Ethereum is expected to become deflationary after it leaves proof-of-work (PoW) and mining behind and completely transitions to proof-of-stake (PoS), a staking protocol.
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