The world’s largest bank, the Industrial and Commercial Bank of China (ICBC), recently called Ethereum a ‘digital oil’. It acclaimed the growth and advancement of Bitcoin and Ethereum over the years. It compared Bitcoin to gold, and Ethereum as digital oil stating its crucial role in serving as a strong support to numerous Web3.0 innovations, including the launch of stablecoins. ETH allows developers to deploy complex smart contracts and decentralized applications. ICBC believes strongly that this has made Ethereum the mainstay in NFTs and Defi. 

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