[ad_1]
The market is still recovering from last month's bloodbath. What seemed to be the start of a potential bull throwing at the start of the month went down in a frantic half-way sale.
This morning is a mixed picture on the markets. Yesterday's shock rally added $ 7 billion to the market, although it fell to $ 112 billion for the press.
Few would have thought to see Bitcoin (BTC) returning below $ 4,000, Litecoin (LTC) to $ 25 and Bitcoin Cash (BCH) treading water to just over $ 100. A price crisis affects utility of a payment currency, simply because with it you can buy less.
But for cryptocurrencies that are not designed as payment solutions, the market sell-off may have had only a limited impact on the fundamental utility of the project. Ether (ETH), used to power transactions on the network, is not designed for external payments.
This is confirmed by the network activity, which has remained relatively constant even with the sharp fall in prices. Although the ether tokens now hold half of what they were at the beginning of November, the business has not changed much since the beginning of September. From October 1, the daily number of transactions has been between 500,000 and 600,000.
What is the best price of Ether?
There are clear advantages in having cheaper ethers. Making the transaction more accessible on the network and making it easier for developers to create functions on the platform. In the past, projects have complained that the cost of stipulating a smart Ethereum contract was prohibitive. When the price reached its peak price at around $ 1,400, a single transaction could cost up to $ 9. At the current price, which at the time of writing reached $ 92.50, the transaction fee would be more like $ 0.50.
But not everyone is completely on agreement. Mati Greenspan, eToro senior analyst, said of Crypto Briefing that a stable Ether price would be more advantageous than a low one. "When the price remains stable it is ideal for developers because they can better understand what they will pay for gas and plan accordingly" He said. "If it is low, it will have to estimate the costs that could increase in the future." It makes the budget difficult. "
There is always the possibility that the ether can get where it was in January. The developers of Ethereum must consider this as they commit token on the network. A stable price makes it easier for developers to make accurate long-term projections and plans.
The author is invested in BTC and ETH, which are mentioned in this article.
[ad_2]
Source link
