Ana Sullivan

Ethereum (ETH) for 2018 – Will it Beat All Time High In May?

by Ana Sullivan April 26, 2018

After releasing the Golem project which is one of it’s highly anticipated projects, Ethereum has become even more powerful. The Golem project involves making money as a result of taking up users’ excess CPU power from their PC’s and give them rewards after doing so. The project has been in development phase for three years now and has gathered quite the millions behind it – Over $300 big ones. And the token has also been mentioned by many forecasting and prediction experts to rise very soon, since besides the bullish trend its running, it also has a monopolistic position and with the genius Vitalik Buterin behind it, one thing is for sure – Ether is here to stay.


 

ETH Token At The Moment

The last week has been generally positive for Ethereum with the ETH token solidifying it’s position on the sub $600 level. This is basically half to what ethereum achieved at the time the token reached it’s all time high of 1,389 USD back in January 2018. Bck then, the interest in the token rose to a staggering 4 940 690 000 USD and since then, ETH has been steadily declining. But April stopped this overall downtrend and started to boost Ether’s price to it’s current value of $632,28 against the US dollar. This boost in price did mean a lot for the cryptocurrency and with it’s current 24h volume of 3,20 billion USD, Ethereum is headed for a price increase. But do not rely on that, because when we take into consideration the price instability of cryptocurrencies in general, Ethereum may face few pitfalls, so extra caution is definitely advisable.

Ethereum’s Technology and Performance

Ethereum is the number 2 token, which many refer to as BitCoin’s biggest competitor. And there is a good reason for that, because of one key core competence that does not exist when it comes to BitCoin – smart contracts. The smart contracts of Ethereum have resulted in a lot of tokens that are using it’s ERC-20 code to build upon. This is because the newer generation blockchains do need to be smarter and have fast transfer times that offer the rugged and already well developed technology of Ethereum and in the same time, they need to have control.

So while Ethereum has faced several interesting bugs in 2017, like it’s sudden price drop which came back to a normal value in a matter of seconds or several problems with it’s network lagging and some bugs, it has also enjoyed a massive community which has made sure that it’s technology becomes so secure, that it’s source code is now the backbone of most ICOs and tokens coming out.

And the project has also been enjoying success with it’s smart contracts that have been made to make sure that censorship, fraud and third-party interference problems, such as scammer issues are fixed.

And when we take into consideration people, like Vitalik Buterin, it becomes reasonable to think that Ethereum’s community and investors are likely to increase in the long-term. But the company and their project do face some issues that may become threats for the company in the future:

  • The company should solve any scaling issues with the ETH token and make sure that the transfer times become more competitive.
  • Newer and newer tech innovations should be added to the technology, since a lot of competitors are creating a lot of ideas for security, performance and token stability that may even prove to be better in time.

When we disregard those possible issues in the future, Ethereum is not the token to bet against, primarily because it has already proven itself.  And with more and more projects to be released, Ethereum is to gain more and more popularity by investors, miners and project contributors alike. But be advised to never go after the crowd and to always form your own opinion based on Ethereum’s movements and latest news. And as we always advise, never invest more than you can afford to lose.

 

Image Source: redbubble.com

 

 

 

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