The “August Crypto Outlook” by Bloomberg revealed that the Bitcoin rally is more trustworthy than that of Ethereum, which is said to be “more speculative”.
Few charts to consider if you are ready to invest.
A long-expected growth of volatility finally came and a lot of cryptoassets left their respective sideways channels.
It’s a period of good news for Ethereum around its anniversary. Even its futures market is experiencing an unprecedented boost in July.
The data from Messari shows that all the platforms built on Ethereum have a combined market cap of $63.7 billion. This is nearly 20% of the total market capitalization of the coin.
This past week, Bitcoin added more than 23% and managed to break one of this year’s high at $10,500 per coin.
Ethereum went live five years ago changing the entire blockchain and crypto sector with developers envisioning a new form of money and social interactions and it has so far revolutionized the nascent industry.
According to a statement on the firm’s Twitter account on July 28, Grayscale currently has $5.1 billion in crypto funds under management.
For the first time in the history of Ethereum, its futures contract has generated unprecedented interest as it has eclipsed $1 billion. This indicates that the biggest altcoin enjoys greater adoption, sending signals that speculators are backing Ethereum.
BTC was able to provide a daily return of 11.15%.
Ethereum is a public blockchain network that gave rise to the most popular altcoin; ether (ETH). The Ethereum platform was developed by Russian programmer Vitalik Buterin in July 2015 and it features smart contracts as well as an open-source nature that avails its users the choice of designing their programs without the interference of third parties or middlemen.
Ethereum’s Ether (ETH) was built on the ERC-20 protocol and it is ranked the 2nd digital currency based on market capitalization which currently stands at over 18.8 trillion USD. The coin serves as the network fees to miners on the Ethereum platform.
On its launch in 2015, there were 72 million ETH tokens pre-mined after its ICO raised over 16 million dollars in 2014. On 13th January 2018, ETH reached an all-time high of over 1,432 USD. Few months after its launch in 2015, ETH’s price dropped to its all-time low of 0.4209 USD on 21 October 2015.
Interestingly, users can also create their custom tokens on the Ethereum blockchain network. This unique feature as seen the platform often referred to as the leading decentralized Apps (dApps) and smart contracts platform. Decentralized Apps are run and implemented precisely as programmed after it is set out on the Ethereum network; this makes it hard to censor and reduces their vulnerability to attacks. Ethereum emphases on running software design codes of dApps.
When it comes to decentralized finance in the dApps industry, Ethereum boasts of leading all other blockchain platforms in the number of applications developed. Ethereum has made significant attempts to solve the scalability issues in the crypto space in recent years and appears to be making progress in that regard.
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