Alex Saunders, CEO and Founder of News Blockchain Channel of Nugget, believes that Ethereum (ETH) is not dead .
In recent weeks, Ethereum has lost an important part of its value at very high rates. dominance in the market from March 2017. Even its price has fallen to $ 170 dollars, the same price as May 2017.
However, there are some points that Mr. Saunders marks that are worth considering when analyzing Ethereum.
At present, 94 of the 100 most important projects on the market were made using Ethereum, which shows that Ethereum is used and is a successful product for other companies.
The so-called Raiden Network is a resizing solution similar to the bitcoin lightning network (BTC), which allows almost instantaneous and low-cost payments. Ethereum has faced several problems with its scalability, commissions and transactions. During periods of intense use, the network was not able to process all the required transactions. The Raiden network is working to provide a product and service to the Ethereum world as soon as possible.
The Devcon4 conference has already been sold. If there is no interest in using Ethereum and is based on it, why would the Devcon4 sell so many tickets?
A good way to increase the price of a virtual currency is to reduce the block premium. Bitcoin does it every 4 years. Ethereum will now reward miners with less ETH. As demand increases at the same time as the supply decreases, the price should increase.
$ ETH is not dead.
– 94 of the first 100 projects built on #Ethereum
– Lightning @raiden_network close
– # Devcon4 already sold out
– Block reward reduction
– Short ETH futures
– Dev community> 250k
– #ICOs still relaunched in ETH
– 14k decentralized nodes
– @VitalikButerin is a genius
– Alex Saunders (@AlexSaundersAU) 12 September 2018
If this were not enough, the future of ETH could soon become a reality. There are several companies in the financial and encrypted world that would like to release future ETHs. The Chicago Board Options Exchange (CBOE) may soon launch ETH futures.
With over 250,000 developers, this is the most used network in the entire virtual currency market.
Although at a lower rate, ICOs are still raising funds using Ether. This is very positive, even when the market has been falling since the beginning of the current year.
Finally, Saunders explains that the co-founder of Etheruem, Vitalik Buterin, is a genius. Buterin commented a few days ago that the market may not record a 1000-fold increase. However, 10-fold growth is still possible.
At the time of writing, Ethereum is traded near $ 180 dollars. Its market capitalization is now $ 18.47 billion and is the second most important virtual currency in the market.