Can Ethereum break out and lead the way

10개월 전

Ethereum/Bitcoin (ETH/BTC)

Source: CoinMarketCap (reddit: u/haunted_tree)

Ethereum/Bitcoin pair is often seen as the major indicator of the altcoin market. It is the second largest cryptocurrency eclipsed only by Bitcoin with several cryptocurrency projects calling Ethereum blockchain its home the likes of which include BAT, Aragon and Augur to name a few. When analyzing the chart above one can easily point out two distinct columns, one identifying 2016 all the way up to January of 2017 just prior to Ethereum massive run and other column identifying the mania of 2017 right up to present time. The latter column looks like a zoom in version of the prior column and several enthusiast hope or better put are betting this is history about to repeat itself. Only time will tell

While its hard to predict what would happen in the future, its important to note that Ethereum now has several competitors all offering its edge from scalability to speed to security. Also important to note that each of these also have their own community rallying the merits of their projects the likes of include EOS, Tron and Cardano. It would be interesting to see if Ethereum can gain the kind of traction it got back in 2017 and if it can experience that kind of mania again.

What are the chance of Ethereum gaining on Bitcoin? Better put, can the much anticipated staking or improvements in scalability atttract similar kind of investment it did in 2017. It is also important to note that ICO provided a great platform for developers and projects to raise and thereby greatly assisted Etherem meteoric rise. With regulators breathing down the throat of exchanges and traders, the days of ICO seem to be over. Nonetheless, Ethereum is also home to of the cryptocurrency biggest projects especially stablecoins and the much talk about decentralized finance. The question that should be ask, can these avenues provide the kind of excitement ICO did that can take Ethereum to the next level and justify its gains against Bitcoin. Only time would tell.

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