Ethereum (ETH) has just made its new all-time high yesterday touching $1475. This coin is doing a pretty awesome job since the beginning of the year, we have seen a few drawbacks made hit us hard again with a major pullback. Institutional investors and big capitalists as well as the attention of the public are set to focus merely on Bitcoin. Today we will dissect why Ether (ETH) is a more attractive asset and why this cryptocurrency should become the “first cryptocurrency” for every new investor.
Ethereum 2.0 Upgrade
Ethereum 2.0 (“Serenity”) is an upgrade to the Ethereum Network which targets to improve the speed, efficiency, and scalability of the network. This brings Ethereum to new heights as it will be able to dramatically process more transactions, mitigate congestion, and expensive gas costs on the Ethereum network.
This is then very good news for all developers that are engaged in tokens, especially in the DeFi markets. This can increase the demanded numbers of unique ERC-20 tokens as they are mainly using the Ethereum blockchain.
The transaction volume of Ethereum
More than $1 trillion worth of transactions were being recorded on the Ethereum blockchain in the year 2020. These transaction transfer were more likely to come from payments giants like PayPal, that was mainly used by over 350 million users.
The creation of Stable Coins
The year 2020 was being labeled as a DeFi year and got fuelled by COVID-19. As restrictions were in place all over the globe forcing transactions to be made electronically or online. At the beginning of 2020 stable coins have risen nearly 3,300%, from $687 million to $23.2 billion.
Stable coins are definitely growing as new projects are coming in place and it is Ethereum that is the main platform for the creation of these tokens. Without Ethereum there will be no birth for the DeFi. The main advantage of Ethereum merely its unique versatility of its technology and its growing community.
