Smart Tokens Gaining Popularity Among Bitcoin Investors Obsessed with Growth
Investors are shifting their attention away from bitcoin towards its newer counterparts, such as Ethereum and Solana, according to Fineqia CEO Bundeep Rangar. The increasing popularity of smart contract tokens on blockchain platforms that support decentralized finance (DeFi) apps is driving the shift. Bank of America analysts have also highlighted smart contract tokens as similar to equities growth stocks, while CoinShares’ Smart Contract Leaders Index is up 36% this year, outpacing even bitcoin’s increase of 33%. Despite this, James Butterfill, head of research at CoinShares, warned that it was too early to call a major divergence in crypto, and the macroeconomic outlook and central bank policies could still impact the growth of crypto projects and their associated tokens.