Over the past few weeks, the price of Ethereum has expanded by more than one-third up to this month, but it seems like the price is stuck. Let’s check on the latest ethereum news to find out what happened.
The data from Dapp.com shows that the second-largest cryptocurrency has suffered a lot in the Q1 of this year since many users are leaving the network for other rival platforms. If all of the users would stay on the Ethereum blockchain, the price of the cryptocurrency could eventually reach its full potential.
Ethereum is still one of the largest blockchains and has plenty of other reasons to be the leader in the dApp race. Many new platforms showed up such as EOS, Steem, and Tron and by the gathered data it seems that ETH is still leading. The data shows that most of the 500 dApps that were added to Dapp.com were built on Ethereum. The report reads:
“It shows that Ethereum is still the No.1 choice for developers to build their dApp on.’’
The gamers are one of the most popular categories for the decentralized apps but not all of the users stay on the network. Ethereum reached a 4 percent decrease over the year in the number of active Dapp users. In 2018 about 7 percent of the users remained using the Ethereum blockchain in 2019. Gamers still remain the most loyal category.
Multicoin Capital CEO Kyle Samani stated:
“The simple reality is that until the last six-to-nine months, there were no other options besides Ethereum. Now there are.”
Also, Travis Kling, a crypto hedge fund trader noted that the price of ETH is still at risk of being heavily impacted by other blockchains ‘’gain traction’’ among users and developers.
According to Dapp.com, it turns out that EOS is leading on the active usage category since about 95 percent of the dapps were active. Tron and Steem have about 80 percent active dapps and Etherum has nearly 600 dApps in inactive status.
Ethereum Could Climb Above $200 According To Analysts
- 4 hours RSI – The RSI for ETH/USD is currently near the 40 level, with a few positive signs.
- Major Support Level – $174
- Major Resistance Level – $200
Six Changes Approved For The Next Ethereum Hard Fork
“We split Istanbul into two. One of them we can actually ship within weeks. [The other contains] two really big EIPs that would be nice to have but require some stuff that cannot be done within the two- or three-week timespan.”As many altcoin news sites shared, Istanbul Part 1 will be the eighth hard fork to be activated on the $22 billion blockchain network. As such, it is expected to boost the chain interoperability with the privacy coin Zcash and with that help secure the broader network against any replay attacks, among other efficiency improvements. Developers behind major Ethereum clients such as Geth and Parity have one week to integrate the six changes, integrating the newly affirmed list of EIPs into their software as well as preparing to implement the full code on a live Ethereum network. The Ethereum Foundation community manager Hudson Jameson spoke about the importance of the testnet release and the six changes in the code. He was featured on many best cryptocurrency news sites for stating:
“The security and stability of the network are primary concerns when it comes to doing hard fork on mainnet so the testnet release is a vital step in making sure that mainnet release go smoothly.”The release summed up that the core developers are excited to get the Ropsten testnet hard fork - and that everything will be working correctly.
Ethereum Dumped 10% Overnight: Possible Reasons Why
“JUST IN: as per sir @loomdart‘s request, this thread is abt the on-going sells off made by PLUS Token, the biggest Chinese PONZI which scammed ~70K $BTC + ~ 800K $ETH. I mentioned it briefly in my last Coindesk oped but worth additional attention as it may cause further sells,” she noted.https://twitter.com/DoveyWan/status/1161686134314848256 It still remains unclear why Ethereum dumped 10% overnight - and if this massive mount contributed to yesterday's drop. However, a panic sell-off could be triggered very soon, perpetuated by any movement in the scammer's wallets.
Pullback For Ethereum-Bears Eyeing $190 Support
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