The Industrial and Commercial Bank of China (ICBC), the world's largest bank, has recently referred to Ethereum as the "digital oil" of the crypto world. This statement highlights the bank's admiration for the growth and advancements of both Bitcoin and Ethereum over the years. ICBC compared Bitcoin to gold, emphasizing its value and stability, while Ethereum is seen as the crucial component that supports numerous innovations in the Web3.0 space, including the launch of stablecoins.

Ethereum's capabilities have made it a vital part of the crypto ecosystem. It allows developers to deploy complex smart contracts and decentralized applications, which has led to its significant role in the development of NFTs and Defi. ICBC believes that Ethereum's versatility and functionality have made it the mainstay of these innovations, solidifying its position as the "digital oil" of the crypto world.

This recognition from the world's largest bank underscores the importance of Ethereum in the crypto landscape. As the bank continues to acknowledge the advancements of both Bitcoin and Ethereum, it is clear that Ethereum's role in supporting Web3.0 innovations will only continue to grow.