It is no surprise that Ethereum has the potential to appeal to the future generation because the inventor Vitalik Buterin was 21 when he launched the cryptocurrency.
Generation Z is the emerging generation who are so young that they are lucky to have found a job in this climate, and some are not legally allowed to work. Those aged between 8 and 23 are Gen Z, so they were born between 1997 and 2012.
They are the most tech-savvy generation, and most have grown up with smartphones and the latest apps. Technology has shifted more than ever for generation Z.
They have seen music transfer through different Ipod designs to speakers that can be controlled by their voice.
Pew Research Centre found that Generation Z is more attuned to a stable economy due to the record low unemployment they have grown in until the pandemic hit.
Generation Z is said to be the most diverse generation. Only 52% of Gen Z are white as opposed to 61% of Millenials being white.
The young population is on track for being the most well-educated generation so they like something that stimulates them intellectually with its complexity.
Ethereum is the King of Decentralised Finance ( DeFi) because of its ability to innovate continually. Decentralized Finance means that there is no need for a central force to control the coin.
There has been a 227% increase of ETH with DeFi. ETH works well with DeFi because it can seamlessly be used interchangeably with non-blockchain platforms. Ethereum can store information on the blockchain. Recently, Ethereum Classic Labs launched the Ethereum Classic, which will let people use DeFi via the ETH blockchain.
The Ethereum 2.0 is on its way, and it will introduce proof of stake element to the ecosystem. It is confirmed to launch on the 1st of December.
Thanks to constant technological advancements, Ethereum is set to be the grooviest cryptocurrency there is.
Ethereum is more likely to appeal to this tech-savvy generation due to the way it can be used in such a diverse range of ways to appeal to a broader audience. An Ethereum blockchain-based streaming platform is en-route to overtaking the likes of SoundCloud.
Audius is an Ethereum centered platform that has already seen up to 50,000 users since its launch. The fact that Ethereum is so diverse even to have a music platform quickly separates it from Bitcoin in the eyes of generation Z.
It is more likely that the young will come across ETH through searching for the music that they regularly consume.
ETH vs. BTC
Lastly, if you look at the year overview of ETH, it has had low volatility despite seeing constant growth over the year. The Moving Average Convergence, over the year, is mostly green as there is bullish action. ETH is perfect for a generation that is not used to losing.
Both Ethereum and Bitcoin have shown a similar pattern in terms of the wave movement over the year.
Looking at the frequency in the wave movement in Bitcoin, it has not been that volatile, and there has been consistent growth over the year supported by the overly green MACD over the year.
Both coins are fruitful and consistent, which is like generation Z, but beyond this, Ethereum leaves Bitcoin behind and wins the race for Gen Z as it is continuously advancing.
Ethereum has hope amongst this young market and could, with time, surpass Bitcoin’s popularity.