Currently at $55K, bitcoin (BTC-USD) has only barely recovered from last weekend's quick tumble in cryptocurrency markets. Ether (ETH-USD), however, has rapidly bounced back, now trading at a new all-time high just shy of $2,600.
Exciting Ethereum fans is the upcoming EIP 1559 upgrade. "This feature will reduce the coin supply and have a corresponding effect on the price, creating an attraction point for more buyers," says Zap Protocol's Nick Spanos. Ether, he says, will "become a deflationary asset."
"Net issuance will drop substantially," says Messari's Wilson Withum.
The scorecard so far in April: Ether is higher by 35% vs. bitcoin's 8% decline.
HT: SeekingAlpha
