RATE Group | Two Big Reasons For ETH Optimism – Ethereum USD (Cryptocurrency:ETH-USD)
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Two Big Reasons For ETH Optimism – Ethereum USD (Cryptocurrency:ETH-USD)

07 Aug Two Big Reasons For ETH Optimism – Ethereum USD (Cryptocurrency:ETH-USD)

Posted at 12:59h in Ethereum News by

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Since hitting a record high of $1400 at the beginning of the year, Ethereum, the second largest cryptocurrency, has struggled like the rest of the other crypto coins. Since then ETH has lost over 70% its value. However, recent developments indicate a rally may be imminent which might see the token reclaim its former glories.

Below we will look at two main reasons why ETH is undervalued. It’s my belief that ETH price has been dragged down as a correction from the massive spike, and with a crypto market ripped up by hacks, manipulation, and other malevolence.

  1. Mass Adoption of the Ethereum platform

Steven Nerayoff, the Ether token co-creator at the start of the year said he expected the price of Ethereum to triple by the end of 2018. This was because many businesses were looking at the Ethereum protocol and asking themselves how it can benefit them.

Speaking to CNBC fast money he said:

“What you’re seeing with Ethereum is exponential increase in the number of projects — there…

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