Bitcoin is no longer the only cryptocurrency trading at all time highs this year!
Ethereum also known as Ether or Eth has been in the spotlight BIG TIME creating such excitement surrounding the topic.
Ethereum uses a tradeable currency called ether, which can be used to pay fees on the network.
The two go hand in hand and have gained its investors the most rapidly growing profit of all cryptocurrencies and it is not likely that it will disappoint current and future investors.
During time periods of Bitcoin’s value falling unpredictably and losing its sense of stability, frustrated investors have become more and more interested in Ether for its comparably more stable position in the market as well as its consistency.
Big banks, tech giants, and other organizations including Chase Bank, Microsoft and Intel are uniting to build business ready versions of software on the Ethereum blockchain making for huge innovation in the financial services space.
Ethereum uses a blockchain, often referred to as a distributed ledger, to record and execute transactions without the need of a middleman.
This is a huge deal in the finance world!
This machine is called a decentralized platform with payment automation that is ran across a computer network that gets updated instantly as any payment takes place.
As you can see it’s not a basic crypto coin and will be leveraged in the financial technology space giving it added value and potential for skyrocketing increases.
Ethereum’s blockchain can run smart contracts, or computer code written to carry out transactions automatically.
So far smart contracts have been primarily used to run dApps also called decentralized applications such as Forsage and others.
The smart contracts have been programmed to act as a sort of trophy, proving ownership. This is unique in the world of digital technologies, as it allows the owner of the said trophy to transfer ownership using the smart contract via the Ethereum blockchain.
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Due to the amount of positivity surrounding cryptocurrencies and the price of Ethereum rising so high, many are left wondering will Ethereum rise like Bitcoin did? and if so how high can the price of Ethereum go?
Given the sporadic and often unpredictable nature of cryptocurrency it is a fact that investors want to know if an investment in Ethereum can make major returns or should they avoid a loss.
The truth of the matter is there is NO definitive answer to give you. But the facts are laid out for you and as an investor you can make your own educated guess.
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Ethereum is standing at the forefront of the decentralized finance (DeFi) boom and the use of Ethereum as a base for DeFi applications resulted in net demand for the token, which was clearly good for the price.
Ethereum is the second-largest cryptocurrency by both market capitalization and daily volume.
It is unlike Bitcoin, which was aimed solely at making financial transactions, the Ethereum blockchain was designed to do a lot more and had created lasting value.
Institutional investors are using ETH as digital gold and holding the token for the long haul.
Trading in the long term requires a lot of time and commitment if you want to see any serious profits. People that held Bitcoin will always say it was worth the wait and that they wish they had bought more. So if this is for you don’t miss the train because it could be headed to the moon!
The cryptocurrency world is always awake and making tremendous waves! Welcome to the new digital world that without a doubt is on the rise!
Disclaimer: None of what is found in this article should be considered investment advice. Much of the above analysis is based on already-released news, expected future developments, and pure speculation. While we can analyze what we have seen in the past, we can not predict the future. This article also may become out of date at some point and fail to reflect current, updated prices and information. Always do your own research before investing and always only invest what you can afford to lose!