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Ethereum News

Developers Leave The Ethereum Network For Other Projects: Expert Opinion

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Experts discussed about the ethereum network and they seem to believe the popular cryptocurrency is losing ground since developers are leaving the network and go work with other projects. In our latest weekend ethereum news, we try to find out why.

When it first launched in 2015, Ethereum was considered the perfect platform on which developers can build decentralized apps (dApps), write smart contracts and launch initial coin offerings and analysts and experts even believed that it could surpass bitcoin.

However right now, developers are keener on Stellar and EOS after only 28 percent of dApps users remained on the Etehreum network while more than 49 percent switched to the EOS network and 24 percent opted for TRON.

The Co-founder of Multicoin Capital Management hedge fund Kyle Samani, explained:

 “The simple reality is that until the last six-to-nine months, there were no other options besides Ethereum. Now there are.”

Another crypto hedge fund founder, Travis Kling of Ikigai explained as well:

 “Owning Ethereum today is a call option on what you think the network is going to be in the future. To the extent that Ethereum competitor projects get traction with developers, with users, with DApps built on top of the platform, that will be viewed by the market as being detrimental to the overall value of Ethereum, and that can have a negative price impact on Ether.”

Experts think that the block speed of ethereum or about 13 seconds is now falling behind other networks that are able to confirm and process transactions in under a second.  Despite the fact that the larger numbers of token offerings are conducted on the Ethereum network because of its dedicated developer team who are willing to stay competitive, an official from the Ethereum foundation reportedly stated:

 “The thing that really shines about Ethereum is its vibrant community. Everyone keeps building and supporting the cause regardless of the markets. All of the recent progress on Plasma and Serenity (Eth2) really speak to that. ”

Vitalik Buterin said that the crypto community should rapidly evolve above the individualism that comes after the early cypherpunk days.

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Altcoin News

Ethereum And Ripple Added To Coincheck’s OTC Trading Desk

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ethereum and ripple
Ethereum and Ripple are officially added to the Japanese crypto exchange Coincheck’s over-the-counter trading desk. The latest cryptocurrency news today has more information about this amazing news. According to reports, Ethereum and Ripple are the first two altcoins to be added on the new OTC trading desk. Coincheck started operating its over-the-counter (OTC) service with Bitcoin (BTC) just when the month started and now offers Ethereum and Ripple one as the second and the other as the third largest cryptocurrency by market cap. The Over-the-counter trading desks offer multiple specialized services for large-volume traders. This allows the traders to save money on fees and to avoid what would in other way be considered as hurdles during purchasing or selling major crypto investments through the old traditional methods. The new feature became extremely popular among many crypto exchanges worldwide. Also, a blog post from Coincheck today shows that the exchange is considering adding other altcoins despite Ethereum and Ripple. The exchange stated that other altcoins will join the OTC trading desk but didn’t mention which ones will be prioritized. The data on Ethereum and Ripple shows some interesting facts. For example, on the Ethereum chain, analysts reported a 4% decrease in the number of DApp users compared to last year. Around 74,422 old users are still using the Ethereum-based DApps in 2019 – while decentralized exchanges (DEXs) are responsible for more than half of the ETH DApp transaction volume, followed by gambling applications. Ripple went through a series of developments during this week. For example, the blockchain initiative by the European Commission stated Ripple is a crucial associate. Also, the Ripple Company made a partnership with the UK-based RationalFX in order to lend their RippleNet payment system. Finally, the Nordic Growth Market owned by the popular Boerse Stuttgart introduced an XRP tracking exchange-traded product for its investors.
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Bitcoin News

Bitcoin And Ethereum Revisit Their 2017-Like Peak Trading Volume Levels

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The latest cryptocurrency news show Bitcoin and Ethereum from another perspective. Despite the recent market correction and the slide which saw the market lose around $17 billion, BTC and ETH have rallied nearly $1,000 in a matter of a single hour at the start of this month. This movement was featured on most of the best cryptocurrency news sites and was able to drag the crypto market along with it. As the altcoin news then showed, many altcoins managed to increase their trading volume and total market capitalizations because of Bitcoin and Ethereum, accordingly. Ripple, Litecoin, Bitcoin Cash...Many altcoins benefited from the rally, which was seen as the end to the bear market bottoms and finally positive news coming following the "crypto winter" that was pronounced and accented a lot over the past couple of months. Meanwhile, Bitcoin and Ethereum reached levels that weren't witnessed since the 2017 peak trading volume. In more detail, BTC's parabolic advance was broken at the tail end of 2017 with its all-time high of $20,000 which has become a distant memory. However, the trading volumes and the momentum that has built up showed that BTC and ETH have regained their ability to surge during short amounts of time. Throughout the 2018-2019 bear market, we saw volume continually diminishing. Everything began to ramp during the fall through $6,000 but quickly dropped back to the low levels. In what's seen as the longest bear market for Bitcoin on record, a major trend change occurred during last week's rally. This took Bitcoin's price from $4,200 to $5,200 in a matter of one hour - proving that bullish action may be on the corner. According to experts as well as certain indicators, Bitcoin and Ethereum went through a reversal that was legitimate - but bears have yet to give up - which is mostly evident in the latest pullback. We'll see what the rest of the day and tomorrow brings for the crypto market and if BTC and ETH are able to quickly recover from their recent downfall.
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Altcoin News

Tron Has Fastest Growing DApp User Base, But Ethereum Is Still The Developers’ First Choice: Report

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A new report released on April 9 by the DApp (Decentralized Application) analytics website DApp.com is in the altcoin news - revealing that Tron (TRX) has the fastest growing user base while Ethereum (ETH) is shrinking its user base in the DApp ecosystem. On the Ethereum chain, analysts reported a 4% decrease in the number of DApp users compared to last year. Around 74,422 old users are still using the Ethereum-based DApps in 2019 - while decentralized exchanges (DEXs) are responsible for more than half of the ETH DApp transaction volume, followed by gambling applications. It seems like gamers are the most active ETH DApp users - with more than 40% of the daily active users reported as gamers - a number which is up by 10% in the first quarter of this year. The report also stated:
“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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Ethereum News

DApp Users Skip The Ethereum Platforms Leaving The Price To Stall

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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.
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