For investors living on the digital edge, bitcoin is starting to look a little old-fashioned.
Hooked on high growth, some are turning away from the original cryptocurrency - designed as an alternative to regular cash - in favor of its descendants created as native tokens of blockchain platforms that host smart contracts and apps.
"Those are ones that you will find capital appreciation, similar to what a growth stock will be," he added. BofA analysts also pointed to smart contract tokens and the blockchain-based applications they power as similar to growth stocks in the equities world, typically technology shares. Some crypto watchers say the relative strength in smart-contract tokens this year points to a solid performance by the most established DeFi protocols despite the market ructions of 2022. They caution, though, that the global macro outlook and central bank policy could hit the growth of crypto projects and their associated tokens.
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Hooked on growth, bitcoin investors turn to smart tokensThe original cryptocurrency is starting to look old-fashioned
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