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Home Ethereum

5 Top Reasons Why You Shouldn’t Give Up On Ethereum.

Kavishwa by Kavishwa
1 year ago
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5 top reasons why you shouldn't give up on Ethereum
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Institutional Demand

The demand of the Institutions has a powerful effect on a price of an asset. Institutional demand is the reason for the rise of bitcoin from 10000$ to today’s price. Company CEOs like Michael Saylor, Elon Musk are the pioneers of this institutional demand for bitcoin. Ethereum is even earlier in the timeline for its institutional demand and adoption. Ethereum is still cheap and buying it now will be still a good investment. The most important thing with Ethereum is that it has a wide range of use cases than being only an investment or an asset. In the future, there will be many companies buying it as an investment and others buying it for its use cases.

On the 29th of 2021, Visa announced that they are planning to pilot a program that will allow its partners to use ETH(Ethereum) blockchain and settle a transaction made in fiat. They are planning to use USDC stable coin. If those billions of dollars started to flow through Ethereum, that would affect the price. Soon other payment providers will follow the lead of Visa.

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Decreasing Supply

Ethereum supply on exchanges has been decreasing over the last eight months. The reason for it is investors are buying Ethereum and moving them into cold storage. When the remaining Ethereum exchanges started to decrease, the scarcity of it grows. As a result, it will affect the price of Ethereum. EIP 1559 is a massive update to Ethereum and it will come out in July 2021. It will burn the base fee of all transaction fees. This burn will reduce the gas fees of Ethereum and make it easier for users to pay the gas fee.

ETH 2.0

Ethereum 2.0 will also decrease the high gas fees of Ethereum as with the EIP 1559, and it will be more accessible to new investors with a smaller amount of capital and companies that need to use the Ethereum platform. Eth 2.0 will introduce the Proof of stake mechanism to Ethereum and replace the proof of work mechanism. Because of the POS(proof of stake), already staked millions of ETH will act as the Ethereum blockchain’s validators. By staking ETH, you may earn between 3 – 7.5% reward on any ETH you staked to secure the network.

DeFi(Decentralized finance)

The potential that DeFi has is a massive buy signal for Ethereum. DeFi has exploded and grown immensely in the last few years. Ethereum can be used for many purposes, and it can transform all the traditional finance into decentralized finances in the future. People like Elon Musk, Mark Cuban, Chamath Palihapitiya are interested in DeFi. The interest is still a little low because of high gas fees and soon it will be solved.

Community

Ethereum has an amazing community that includes thousands of Developers, users, technologists, miners, and holders. Without this fantastic community, Ethereum won’t have any value at all. Ethereum can be a base layer for so many decentralized applications. Those applications will bring more and more users to the Ethereum network and make it more valuable.

Ethereum has one of the most exciting and extensive documentation and development history of any blockchain. There are many open-source applications built on Ethereum.

These are the top 5 reasons why you shouldn’t give up on Ethereum anytime soon.

You can buy Ethereum On Binance now.

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