Ethereum coin
Ethereum is the most important cryptocurrency after Bitcoin, launched in 2015. The Ethereum coin is known as Bitcoin’s competitor, which is trying to gain more market share. Ethereum trades cheaper and faster than Bitcoin, and is more than just a cryptocurrency.
Given the prominent role of smart contracts and decentralized programs in the blockchain, Ethereum is the least risky option if we want to choose one of all the smart contract hosts (such as Polkadat, IAS, Tron, etc.). More than 80% of the market tokens are still transferred to Ethereum, and Ethereum has a much larger number of decentralized applications than other platforms. In general, other platforms against Ethereum still have nothing to say in terms of acceptability.
Ethereum was very successful in 2020. As expected, Phase Zero implemented the network’s major upgrade, Ethereum 2.0, and as the market ascended, Ether outperformed many other cryptocurrencies. The Ethereum coin stock with more than 700% annual growth at the time of writing is more than $ 1,700 and has set a new historical record.
Although at the time of writing, many analysts expect the Ethereum Coinbase price to fall after strong growth, some other experts believe this is just the beginning for Ethereum. 2020 was a milestone for the Ethereum cryptocurrency; The market value of Ethereum coin has crossed the $ 31 billion mark this year, and on the other hand, the DeFi revolution is about to be implemented on this platform.
People who predict an upward trend for Ethereum believe that this currency has now attracted a lot of attention and has a good chance of gaining the first place among virtual currencies. The Ethereum platform is designed for decentralized applications and is penetrating large industries. For good invest in Ethereum, this has led traders to focus on buying and selling Ethereum coin.
Ethereum is worth about $ 144 billion and has a market share of about 15%. Also, a large company like Microsoft has chosen to work with Ethereum among all cryptocurrencies. An examination of Ethereum coin price trends shows that investors have made good profits from this cryptocurrency in the long run. Ethereum coin price gbp have risen 996 percent over the long term over the past two years and about 368 percent over the short term over a six-month period.
Ethereum coin price fluctuations have somewhat discouraged many traders. Because these fluctuations affect their decision to invest or not invest in the Ethereum. Getting used to the fluctuations of the Ethereum coin takes time, However, fluctuations are not the only factor to consider when investing in Ethereum. Despite sharp price reductions, paying attention to the lowest annual ether prices can also provide important information for investor decisions.
Despite the many fluctuations and sharp price declines, we have seen the price of Ethereum coin increase every year. Ethereum coin entered 2020 at a price of $ 127.41, and with the start of global quarantine in March 2020, the price of Ethereum coin fell below the lowest level in 2019, $ 110.61, on the 15th of the same month (March 16, 1998).
Over the past few weeks, the Ethereum coin has tried several times to break the $ 400 resistance, and this resistance was finally broken on August 13th. As expected, the price of Ethereum coin today is $ 1939.33, which is an increase of almost 230% this year.
One of the obstacles to raising the price of an Ethereum coin is its current success rate. The Ethereum cost Coinbase fee (GAS) is increasing and the rate of use of this cryptocurrency has skyrocketed. Ethereum’s competitors are also looking to take advantage of this opportunity, and want to quickly bring to market those parts of the market that people are leaving due to rising prices and network congestion.
Invest in Ethereum coin
An important question for most users is whether invest in Ethereum would be a good idea or not? In the second half of 2020, we saw the growing interest of institutional investors and large investors in cryptocurrencies. However, whales and the general public turned their attention to bitcoin.
Triumph has grown by about 1,200 percent by 2020. Bitcoin, on the other hand, grew by only 700%. Of course, considering that the price of Bitcoin reached $ 40,000 at the highest point, the maximum price of $ 1,400 for Ether is not very significant. In addition, the Ethereum coin market up is five times lower than the BTC market value.
There is strong evidence that Ethereum coin will continue to rise in price in 2021, bringing more profits to investors than the most popular currency in the market, Bitcoin.
Ethereum is the best platform for creating blockchain projects and running decentralized applications. The chart below shows the number of tokens launched with ERC-20 that are traded on the Ethereum platform. Although the rate of expansion and creation of new tokens has slowed down since the initial coin supply bubble burst in 2018, the total number of tokens is still increasing. So invest in Ethereum would be a good idea.
In addition, powerful competitors such as Tron, Polkadot, Tezos, Cosmos and Cardano are competing with the Ethereum platform, but the platform still ranks first. Also during 2020, more than $ 1 trillion in transactions were recorded in the Ethereum blockchain. This is much more than the volume of PayPal transactions with 350 million users worldwide. So this is another reason for invest in Ethereum.
Furthermore, each transaction has a cost that is paid for with ether in the Ethereum network. As the network growth rate continues to rise, we can confidently wait for the ETH to rise. On the other hand, interest in basic cryptocurrencies, the number of active wallets, the number of transactions on the network and the average size of transactions are also increasing. Factors that are all positive signals for ether and show that invest in Ethereum would be a good idea.
Although Bitcoin leads the cryptocurrency market, Ethereum is recognized as the leader of the young and fledgling decentralized finance industry (DeFi). In the summer of 2020, DeFi lending and stock projects became hugely popular. DeFi continues to grow and is attracting new capital. The total Ethereum coin value locked or the Ethereum coin stock in DeFi has grown by approximately 3,300 percent since the beginning of 2020, from $ 687 million to $ 23.2 billion. Ethereum is the main platform for creating and launching most new DeFi projects and the cryptocurrency of fixed currencies. So invest in Ethereum would be a good idea.
The issuance of fixed cryptocurrencies is also constantly growing. Because fixed-price cryptocurrencies, which are dependent on Fiat currencies, are a good tool for quick settlement between users, trading Ethereum Coindesk, and preventing fluctuations in the value of stored assets. Factors that all show that invest in Ethereum would be a good idea.
In addition, you should not forget the interest of DeFi institutional investors. In August 2020, Archax and Algorand released news of DeFi-based tool development programs by major financial institutions. In the fall of 2020, it was announced that xSigma, a subsidiary of ZK International and also a subsidiary of Nasdaq, was developing DeFi services. According to the published information, the company is preparing a suitable platform for launching a decentralized exchange to conduct stable coin transactions.
