Potential Bull Run for Ethereum (ETH) as decoupling token from Ethereum, Analyst Claims – ETH / USD Price today


Frozen ethereum

In a recently conducted analysis, it was revealed that the ERC-20 tokens, which were issued on the Ethereum Blockchain, are decoupling from it. In simpler terms, this means that the price does not reflect the price of the ether. Rather, tokens are building their communities and platforms.

Ethereum Price (ETH) today – ETH / USD

According to a popular data analysis platform called Santiment, there are ten ERC-20 tokens that separate from Ethereum. Two of these tokens were listed on Coinbase, a popular cryptographic exchange based in San Francisco.

The report includes three ERC-20 tokens that have been decoupled from Ethereum; 0x (ZRX), the Basic Attention Token (BAT) and Maker (MKR). The three digital currencies have stopped following the price of ETH and now they are making their prices.

The report has provided a chart showing the prices of all three criptos and how much they have arrived since a few months ago. They were following the trend line of Ethereum, but they have decoupled.

Analysis of the three coins

The BAT rose a month ago after Brave Browser launched the Chromium-based version. This made it 22% faster than usual. It also came up this week when it was added to Coinbase Pro.

ZRX also rose when the same exchange announced that it would be listed on the platform last month. This digital currency is a protocol that enhances the low-friction peer-to-peer exchange of the ERC20 token on Ethereum Blockchain. His whitepaper describes it as such and forms the basis of Paradex, the decentralized exchange of cryptocurrencies that has been integrated into the Coinbase trading platform.

Even the MKR token is going well. It has been decoupled thanks to the stablecoin DAI, its product. It is widely adopted and is apparently starting to be used as the first stablecoin on decentralized exchanges. The digital currency is algorithmically calculated in dollars. Even its market capitalization has increased in a few years.

Considering all these developments, Ethereum's ERC-20 tokens have a total market capitalization of $ 12.8 billion. This is at least sixty percent of the total capitalization of the mother cryptocurrency, Ethereum. They are no longer linked by Ethereum and are launching their race independently.

Even if cryptocurrencies are decoupled from ETH, the network is not left behind.

The analysis of the company states:

"Logically this price movement should eventually find its way to ETH as well. A similar model happened in 2016-2017 when ETH launched the explosive bull run and followed BTC. But the market is quite irrational that we prefer to stay in the present moment. And right now … the price dynamics of some tokens are now decoupled."

At the moment, Ethereum is almost eighty percent against bitcoin, the first cryptocurrency. This could happen during the "Flippening" in which ETH becomes the top crypto by market capitalization and seems imminent.

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