Reportedly, the Whales have been accumulating ETH as the selling pressure has been falling. Lately there were concerns that the ETH price has been losing ground; however, the network metrics have to state that the DeFi season is not over yet.  ERC-20 has taken over the market capitalization of Ethereum.

For those who do not know, ERC-20 is similar to Bitcoin, Litecoin and several other cryptocurrencies.  They are assets based on the blockchain.  All the smart contracts on the Ethereum Blockchain make use of the ERC-20 tokens for token implementation.  The ERC-20 standard is made use of by several digital currencies like Maker (MKR), Basic Attention Token (BAT), Augur (REP), and OmiseGO (OMG).

ERC-20 tokens have a value and they can be sent and received.  As opposed to running on their own blockchain, the ERC-20 tokens are issued on the Ethereum Network.

ERC-20 has six major functions, which is meant for the benefit of other tokens which are created on the Ethereum Network.  All of these functions are methods by which the tokens are transferred and how users will be able to access data relating to a particular data.  There are different types of Ethereum tokens, these functionalities ensure that all of them will work in a similar manner in the Ethereum system.

The good thing is that all the wallets which support the Ether (ETH) will also support the ERC-20 tokens.  There might be some bugs in the ERC-20 which might have to be fixed.

Ethereum (ETH) Through Ups and Downs

Sydney Ifergan, the crypto expert tweeted:  “Ethereum (ETH) has trended through Bullish reversals, selling pressures, struggling resistance points, break outs, rising worries of DeFi Bubble burst, but they are resilient.”

The potential high and potential low for Ethereum (ETH) price was projected in the past anywhere from $1,155 to $50. Ethereum at the time of writing was trending at $340.41.  We have already completed 9 months in 2020.  And, despite all ups and downs in Ethereum’s history, experts are of opinion that Ethereum price will further increase in the long-term.

Branded Lee in his guide book Digital Gold stated, “But if you really want to find a currency that is growing, one that has the potential to be around for a long time and has everything that you need to help out a variety of industries, then Ethereum is the best digital currency for you to use.”

The Altcoins are in their initial phase, they are just gaining attention. It is worth making a modest investment to sit back and watch the investment worth grow in to lot of money.