Ethereum Rises 800% and More Gains Are Coming.
Number Two Crypto Coin is climbing fast in 2021.
There is no doubt over which coin started the revolution: Bitcoin. It is the most valuable, oldest and the most widely adopted digital currency in 2021. As with all other things, there were always going to be contenders to that throne. The clear number two is Ethereum. Despite achieving amazing results lately, it hasn’t received nearly as much hype as Bitcoin. Over the past 12 months, its value has gone through the roof, soaring sevenfold to its current value of above $1,000. With such high potential, it is amazing how it hasn’t achieved similar success as its older brother. It is time to delve deeper and gain a better understanding of all of Ethereum’s strengths and weaknesses and what could make it number the one crypto option in the future.
Ethereum was founded back in 2015 by Vitalik Buterin, who decided to further pursue his passion towards the crypto market. Just like Bitcoin, Ethereum is decentralised, which means it does not require a central bank or any other financial institutions to regulate or issue it. They both use blockchains in order to achieve complete transparency. All transactions are recorder using a peer-to-peer network of computers, rather than a single organisation.
The biggest difference between the two coins lays in their intended purpose. While Bitcoin aims to become the global decentralised digital currency, Ethereum is a decentralised computer platform. In plain words, Ether hosts decentralised applications where people can use Ether to pay for services such as social media, gaming and general finance.
Consequently, Ether has given births to decentralised finance, or DeFi. This is a flourishing industry which enables users to borrow or lend money in a peer-to-peer environment without any middlemen such as banks.
Ethereum Biggest Strength
Most notably, transactions are processed quicker on Ethereum (about 10-15 per second) than on Bitcoin (5 per second). In addition, there was a launch of a new blockchain that is said to take up significantly less energy. Analysts are predicting Ethereum 2.0 will eventually process as much as 15.000 transactions per second, outranking anything possible by any centralised payment systems.
On the other hand, Ethereum tends to closely follow Bitcoin. If Bitcoin is on a bull run, the same can be expected of Ether. Historically, the movement in price is often mirrored by all other crypto coins. This can make market movements slightly more predictable.
Ethereum Latest Run
Ether has reached a three year high on January 10, 2021, as it peaked at $1,348. Since mid-December, the price has been increased by more than 130%. The general sentiment is that the price will rise even higher in the near future. Surprisingly, inside exchanges have been dropping, indicating that there is less selling pressure.
As a result, the cryptocurrency could easily double its current value in 2021 and go as high as $2,500. This will mostly come down to traders interest. If more users keep jumping on board, new spikes in price seem inevitable.
If these terms seem manageable for you, remember you can start trading crypto coins in seconds by simply logging into your account. The entire process takes just a few seconds, and you can ride the crypto hype train as little or as much as your ambitions and budget allow.