Ethereum is a cryptocurrency that can be used for various purposes, including merchant remittance, purchasing a cup of coffee, and more. Over the past year, it has gained a lot of popularity and is fast becoming a hot investment asset. Investing in cryptos is a great long-term opportunity as most cryptocurrencies have limited supply and are subject to the laws of supply and demand.
The price of Ethereum has been volatile all year. It recently popped back up to $816 after a long decline. However, most cryptocurrency enthusiasts are looking for high returns, and are looking for volatility to achieve that. The ETH 2.0 blockchain is expected to formalize the switch from Proof-of-Work to Proof-of-Stake.
Despite the difficulties of scaling and cost of transactions, Ethereum has many uses in the tech industry. Although it isn’t as popular as Bitcoin, it remains one of the most popular cryptos this year, thanks to its unique value proposition. The price started out much higher than it is today, with a peak of $1,396 on Jan. 12 of this year.
The ETH price is rising because the demand for it is increasing. Its popularity has fueled the creation of smart contracts, which automatically execute transactions between parties on the internet. This reduces the need for trusted intermediaries and increases transaction reliability.