Ethereum, introduced by Vitalik Buterin has drawn a lot of attention from the crypto enthusiasts, for securing the second position with the largest market capitalization. Ethereum, as a platform, enables dozens of cryptocurrencies to exist, without having to build their own blockchain technology. Ethereum enables developers to build smart contracts, that automatically execute tasks when certain stated conditions are met. Ethereum has two main functions: keeping things running smoothly by compensating the mining nodes and pay people under smart contracts platform
Based upon market capitalization, Ethereum is the second most popular cryptocurrency on the planet, next to Bitcoin. The unfortunate reality is that no one has been blessed with a crystal ball with regards to a definitive price for the crypto
Some of the Ethereum’s more rabid backers present it as nothing less than the future of the internet. Buying Ethereum today, they say, is the equivalent of picking up a few shares of Apple back when it was practically run out of a garage.
Ethereum enjoys more base pairing on exchanges than any other coin but Bitcoin, and since rocketing up to almost $1,400 in the same December time-frame where Bitcoin hit a high of more than $20,000, it’s become viewed as a store of value. Ethereum has since tumbled from its all-time high, and it’s unclear when – or if – the coin will reach those lofty heights again
In the last six months, Ethereum performed the best in the month of May, where it reached $272.36 on 27th of May, 2019. Before this, Ethereum has gone through so much volatility, where it was lingering somewhere between $100 to $150, but it has managed to touch $250 by mid-May. The market experts are predicting that Ethereum might touch $300 in the month of June 2019 because of many possible reasons. Joseph Lubin, Ethereum co-founder mentioned about the release of Ethereum 2.0, which is going to be 1000 times more scalable than what it is today, in 24 months or so. Ethereum 2.0, also known as Serenity, has been divided into four phases, already the testnet beacon blockchain is live. Lubin mentioned that Ethereum 2.0 is going to be fully operational by the end of this year.
Recently there have been reports of Ethereum on-chain metric rising rapidly like transactions per day, daily active addresses, average transaction values and many more. The number of on-chain transactions has increased to almost 910,000 over the past week, with an average block time of around 13.33 seconds, which is one of the fastest in ETH history. As per the data 41% of the total active nodes, which is 8661, are located in the United States.
Even though the crypto market has seen a downside towards the ending of 2018, Ethereum is going to take an upward surge in the coming year and it can touch high toward the end of 2019 $1400 in 2019,
One of the engineers of Ethereum Virtual Machine(EVM) very recently published about the Devcon4 conference that happened in two months back where ETH cofounders Vitalik Buterin and Joseph Lubin was also present. He mentioned that the meeting was mainly summoned to discuss the upgrades of the Ethereum network(like the introduction of storage fees for smart contracts), also labeled as Ethereum 1x, which might be implemented soon.