Ethereum, the number 2 cryptocurrency asset with a nearly $30 billion market cap (second to Bitcoin's $120 billion), has mostly been remaining in the shadows lately. With Bitcoin rising steadily to all-time highs over the past few weeks, it's no wonder that Ethereum hasn't been noticed.
Over the last two months, Ethereum has been relatively stable, hovering around the $290 to $300 mark (despite a dip to $260 and a rise to $340). This price stability is relatively unheard of in the cryptosphere, but as cryptocurrency assets mature I think we still start seeing this more as they reach a stable value.
Ethereum, however, deserves to have its value sitting at much higher than it is right now. Based on what? you may ask. Well, let's take a look at some stasticics.
Ethereum Statistics
Out of the top 100 cryptocurrency assets, Ethereum and tokens based on it make up 39% (39/100).
Out of all tokens, Ethereum-based tokens make up 71%.
Out of all cryptocurrency assets (including all tokens and coins with their own blockchains), Ethereum and its tokens make up over 20%.
Out of all the upcoming ICOs this year, more than 95% of them will be having their own ERC20/Ethereum token, whether it will be temporary or permanent (with the majority being permanent).
This means that Ethereum is being mass adopted and serves as the de-facto king of the cryptocurrency token and smart contracts sphere.
Based on all of this data and my experience in crypto markets, I believe Ethereum is vastly undervalued and due for a rise, maybe even a moon to at least the $500 mark within the last quarter of this year, with $1,000 easily within reach next year.
Happy investing!
ETH tremendously undervalued ATM. Flight to quality is about to start. Mainstream has not done the required research to understand it nor truly evaluate it. Coin is about to flip when the mania starts again.
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