The Bitcoin boost in the past few weeks has overshadowed the rise of the number two in the market – wrongly. For Ethereum, the crypt diet, based in the Swiss train, also represents a breathtaking growth. The little brother of Bitcoin and has, according to experts, a lot of potential upward.
Since the beginning of the year, the price of Ether (ETC) has already risen by a fabulous 3900 percent – from eight to currently 320 dollars. Parallel to the Bitcoin rally at the beginning of August, Ether has grown similarly. While the hyped Bitcoin won 54 percent, the Ether price rose 44 percent.
So Ethereum continues to attack the dominance of Bitcoin. Since its launch, Ethereum has been considered the strongest bitcoin competitor. This has also to do with the development: At 19 years, Vitalik Buterin was already one of the leading figures in the bitcoin scene.
However, he came to the conclusion that the functions of digital currencies must be expanded technically. When he was flashing with Bitcoin developers, he designed Ethereum – a crypt diet with an integrated platform that can block chain all kinds of transactions.
If Ethereum is currently attracting great interest, it also is an alternative to bitcoin. “Bitcoin is now too expensive to buy, and they prefer the tenfold cheaper currency, which is the number two in the market,” says André Brunner, a partner at Capco.
In this respect, Ether is similar to Bitcoin, a speculative object whose price gain always promises a rich return. Earlier, Ether is still a bit distant from the record in March, but experts expect the crypt diet to easily surpass the $ 410 and set new records. “Ether will also crack the 1000-dollar mark, clearly,” says market analyst Brunner. “There’s some announcement that points out a bit more, and the course goes to 500 dollars.”
Already, Ethereum has reached a market capitalization of $30 billion. That is almost half as much as the market leader Bitcoin, which currently touches the 70 billion dollars. This is a significant change – currently Bitcoin’s share of the market capital of all cryptos is around 46 percent.
Even if this does not mean that the reassurance of Bitcoin continues – many market observers consider a value of 5000 dollars by the end of the year, there are other reasons for the upward trend of Ethereum. The goal of developer Vitalik Buterin was to make Ethereum technically more accessible and more flexible than Bitcoin.
This speaks for Ethereum, which for this reason is benefiting, for example, from the increasing number of ICOs – the abbreviation stands for crowd-based exchanges via crypto- nutrition. Many investors who want to invest money into an enterprise at an ICO demand the possibility of doing this in Ether, says André Brunner. That is why many companies that are looking for lenders through cryptography offer this possibility.
Thanks to its blockchain platform, Ethereum also receives a great deal of support from renowned large corporations. “Through the Enterprise Ethereum Alliance, ETH is getting more and more support from financial and tech companies like JPMorgan Chase, Intel and Toyota,” says Brunner.