Many executives of popular and successful cryptocurrency-related companies and crypto conglomerates expressed their support for Ethereum recently. They even favored Ethereum more than Bitcoin, which is the most dominant cryptocurrency in the global market.
Last year, Circle (the $3 billion cryptocurrency exchange and payments platform) as well as Coinbase (the $8 billion cryptocurrency brokerage company which remains the largest global digital asset exchange) expressed their enthusiasm towards the growth of Ethereum.
The co-founder and CEO of Circle was the first one to back up ETH, saying that it could be “the catalyst for the next cryptocurrency rally due to the “enormous” amount of developer activity on the Ethereum blockchain.” He expressed his confidence in CNBC’s Fast Money show.
According to many analysts, ETH currently has more than 300,000 developers on its network and has been adding more than 50,000 developers on a monthly basis since May.
Last year, the founder and CEO of Aragon which is a decentralized governance protocol based on Ethereum, also expressed his confidence, saying that “there’s a gold rush among developers to learn the coding language of money,” adding that he doesn’t know one ETH developer that isn’t millionaire right now.
Circle’s Allaire is interesting in this topic because he has overseen the evolution of Circle from a crypto brokerage to a payments company – and its re-entrance into the cryptocurrency market. He said that Ethereum is “a base layer for various types of blockchain and dApps is crucial for the long-term growth of the cryptocurrency industry.”
As he said:
“One of the things that really catalyzed the [cryptocurrency] market last year was actually that ethereum, in particular, kind of got to a place where you could build apps on top of it. You could issue new tokens on top of it; you could create new kinds of financial contracts, using the smart contracts technology. It also catalyzed a lot of competing infrastructures to ethereum,”
The CEO of Coinbase has also been optimistic towards Ethereum since late 2017, saying that he personally owns more Ether (ETH) than Bitcoin.
Ethereum Price Closer To $175: Is $182 The Next Milestone For ETH?
- The technical indicators are as following:
- Hourly MACD – The MACD for ETH/USD is pushing higher and gaining a bullish momentum, with a lot of positive signs.
- Hourly RSI – The RSI for ETH/USD surged above the 60 level and it is right now stabilizing near 75.
- Major Support Level is at $168
- Major Resistance Level is at $175
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“The Ethereum-based games have already created a stable community with a group of loyal audience.”According to the numbers in it, the Q1 of 2019 showed that 504 DApps were added to the DApp.com list, of which more than half were Ethereum-based.
“It shows that Ethereum is still the No.1 choice for developers to build their dapp on. At the same time, we also have seen a trend in multi-chain developing, as many Ethereum dapps expand on multiple chains, such as Ethereum + EOS or Ethereum + Tron," the report sums up.The number of active DApp users on the Tron blockchain reportedly amounted to over 300,000 while on EOS it is around 260,000. The report also showed that by the end of Q1 2019, the number of Tron wallets exceeded $2.3 million and about 15.46% of them interacted with DApps. Around 85% of Tron's DApp users interacted with the apps in Q1 2019 which translates to Tron being the most active chain among the four blockchains. The report also pointed out that 95% of the EOS DApps reported a transaction in the first quarter of the current year as did over 80% of Tron and Steem (STEAM) based decentralized apps. For more of the latest cryptocurrency news, head to our homepage!
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