The Currency Analytics
By Steven Anderson
After the introduction of Ethereum (ETH) to the crypto space, a lot of cryptocurrency enthusiasts have expressed their hopes that it would dethrone Bitcoin being the leading…
On the other hand, many analysts suggest that it would be hard for ETH to reach that spot, especially that it is poised to struggle this 2020.
Currently, Ethereum collapsed by 89% from its all-time high $1,419.6 while the rate of Bitcoin is gradually plunging over 50% from its historic high.
According to some reports, the Ethereum 2.0 will remain unavailable in the market until 2010. That’s because the Serenity rollout will require seven phases before completed.
Market Research Firm Messari said that Phase 1 is even not available until 2021, which will consist of 64 shard chains.
If you missed the news, Ethereum 2.0 is a new blockchain that will deliver a high-risk transition. Then, it is expected to offer a more stable financial system.
It was 2017 when cryptocurrency became a hype, where scammers created their versions of the tokens and then sold through an initial coin offering (ICO) to unaccredited investors.
Unfortunately, ICOs large portion utilized ETH as the blockchain. So, the crypto turned de-factory currency, as well as a number of companies, pulled massive capitals that were…
According to crypto analysts, the pump of rates resulted in ETH to be overbought. Following the sliding value of Ethereum, a lot of ICO projects opt to sell their ETH holdings to…
Since then, Bitcoin moved ahead and became a safe-haven asset. Then, because of the temporary bullishness alone helped BTC to recover, unlike ETH.
Ethereum is still on the position where it struggles to emerge in the blockchain market. Binance Chain, EOS, and Tron are some of the blockchain projects that stop the ETH in…
On the bright side, Ethereum got an advantage due to Decentralized Finance (DeFi). The protocols that allow a peer-to-peer lending with the help of ETH hold $687 million reserves…