How High Can Ethereum Go?
22 Agosto 2022 - 8:58AM
Finscreener.org
Ethereum (ETH) is the second most
popular cryptocurrency on the market, right after Bitcoin (BTC).
ETH makes up a considerable chunk of the total crypto market
capitalization. Together with Bitcoin, the two coins are
responsible for more than 50% of the total market cap.
However, Ethereum is a totally
different asset than Bitcoin because its use cases go beyond
digital cash transactions. In fact, Ethereum provides users and
developers with a wide range of services and development
possibilities, which makes it an asset with huge growth potential,
especially among retailers, business clients, individual investors,
and developer teams.
What Is Ethereum?
Ethereum was launched back in
2015 by a team of experienced blockchain experts, headed by crypto
visionary Vitalik Buterin, who played a key role in the creation of
ETH. At the time of its launch, Ethereum was a revolutionary crypto
because most existing digital currencies, such as Bitcoin and
Litecoin (LTC), were mainly used for digital cash purposes.
Ethereum, on the other hand, introduced a lot more
functionality.
One of them is the use of
smart contracts – a key
innovation behind Ethereum. These contracts are a sort of
self-executing piece of computer code built to execute complex
operational procedures automatically within decentralized
applications (dApps) and platforms built on the Ethereum
blockchain. Smart contracts can be used for a wide variety of
use-cases, such as crypto yield farming, exchanging assets,
automating digital marketplaces, and more.
Decentralized apps, or dApps, are
yet another key innovation introduced by Ethereum. Instead of using
centralized platforms, developer teams got the opportunity to
create independent, decentralized platforms built on the Ethereum
network.
Since then, thousands of dApps
have been launched on Ethereum, from decentralized exchange
platforms,
NFT marketplaces, sports
betting apps, and social platforms all the way to innovative DeFi
solutions for borrowing, lending, and staking assets. Also,
Ethereum introduced the possibility of launching cryptocurrencies
on top of the Ethereum blockchain with its ERC-20 token
standard.
With smart contracts,
decentralized apps, and ERC-20 tokens, Ethereum brought a whole new
type of value to the crypto world, which is a key reason why ETH
should be regarded as an asset with incredible growth
potential.
Ethereum Price History and Future
Perspectives
At the time of Ethereum’s launch
back in 2015, Ether tokens were worth barely a single US dollar.
ETH was worth around 0.3 USD when it was launched on the market,
and in just 6 years, it managed to reach an
all-time high of around 4,800
USD per coin in
2021.
This incredible price increase
over a relatively short span of time is absolutely fantastic
because it illustrates how profitable an investment in ETH actually
is. Individuals who invested just 1,000 USD during its early days
have made tremendous returns. When compared to the most profitable
corporations, such as Apple (NASDAQ: AAPL) or
Amazon (NASDAQ: AMZN),
Ethereum achieved much higher gains in the same 6-year period of
time.
Due to recent market corrections,
the price of ETH went down considerably, oscillating between 1,500
and 2,000 USD per coin, but this is still a tremendous percentage
gain in total. Ethereum has been consistently setting new all-time
highs and higher lows with each new bull-market cycle since its
launch, which means that in total, an investment in ETH is a
profitable venture for long-term investors.
Ethereum is scheduled to
shift towards a new blockchain
consensus mechanism in
September 2022, which might prove to be a key factor for its future
price increase. The shift to Ethereum 2.0 will cut ETH energy
consumption by around 99% and make it much more
environmentally-friendly than Bitcoin, which continues to
consume
enormous amounts of
electricity.
The best way to actively monitor
the price of Ethereum is by looking at the ETH/USD price
chart
(CCC: ETH/USD), where you
can view the exact market fluctuation of ETH over time. As far as
purchasing ETH, you can purchase Ethereum tokens on all major
crypto exchanges, such as
Coinbase (NASDAQ: COIN) and
Robinhood (NASDAQ: HOOD).
A Few Ending Words…
Ethereum is a highly volatile
digital asset like all other cryptocurrencies, however, unlike many
less popular coins, Ethereum has a huge market cap and brings
authentic value to the crypto market, which is a key reason for
Ether’s explosive price growth potential.
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