Ethereum on UNICEF Innovate 500 + Applications from 68 Countries Uptrend in ETH PriceAugust 1, 2020
In a recent, Blockstars episode, David Schwartz recently recollected on why Ripple decided not to build smart contracts into the XRP Ledger.
Obviously, Ethereum built smart contracts. Ripple according to David Schwartz were right about the fact that adding smart contracts makes a platform worse for payments. He also stated that Ripple prediction about Ethereum were right in that it would introduce fee instability, performance issues, and have lots of attack surface, which indeed happened with Ethereum.
For whatever reason, the Ethereum are happy about the price rally happening currently.
Ethereum have celebrated their 5th anniversary recently. They are happy about that they are supporting 30 languages. They were happy about how the Ethereum Community from across the world are working together and how it is a major milestone for all the members.
Ethereum retweeted: “500+ applications from 68 countries. A new record! Thank you to the blockchain startups who applied for funding and mentorship from @UNICEFinnovate. What happens next? Take a look.”
Sydney Ifergan, the crypto tweeted: “Ethereum (ETH) is positive and moving in the uptrend. Good for those who were waiting for this rally to happen. Technical Indicators are Bullish.”
Ethereum (ETH) Bulls are in Control
The Ethereum price was at 363.18 United States Dollar 1 Aug, 4:45 pm UTC and this means that the bulls are still under control. The hourly charts are in favor of the buyers. The price momentum is very strong and the price is expected to push far ahead. The overall cryptocurrency market has a bullish outlook. Even if there will be a consolidation ETH is expected to be bullish.
The numbers of whales holding the ETH has increased substantially during the pandemic, particularly during July. There seems to be no reason for an all-time high to happen. The increase in the numbers of DeFi projects is promising for a better price; however, it has not reached a point to trigger an all-time high. However the current trends is promising and investors are already happy to see the price going up.
Expectations continue to mount around Ethereum 2.0 and it is set to be the biggest upgrades so far in the history of cryptocurrencies. About 2 weeks ago it was like the ETH price would not go up as the ETH 2.0 launch is not happening anytime soon. The price was trapped in a triangle. Things are changing now. The price have other reasons to go up apart from ETH 2.0. Overall Positive now.