Why Ethereum Is Expected to Be ‘Coin of the Year’?

Why Ethereum Is Expected to Be The ‘Coin of the Year’?

Ethereum (ETH) is attempting to come back to its $281 three-month peak hit in February 2020. However, analysts expect ETH to be ‘coin of the year’, outperforming the other popular digital assets, according to Zycrypto website.

ETH has never been the same again since its market bull-run of early 2018. This is because the coin’s reaction to price change has been slightly slower after that amazing run. In addition, it failed to move with a big margin when Bitcoin (BTC) has jumped by more than 50 percent.

Despite these negatives, ETH is still popular among the different cryptocurrency analysis websites.

The coin is expected to end 2020 with a trading price of $1,449, according to CoinSwitch data. It is a little too much when considering its current price level. However, everything is expected to take place in the crypto space.

For his part, Bobby Ullery, a crypto expert, has expressed his strong interest in Ethereum, and clarified why it would be ‘coin of the year’. He indicated that ETH’s market cap will likely exceed $1 trillion by 2020.

Both Bitcoin and Ethereum will be the main drivers of the market, dominating nearly 25 percent of the entire market cap. This indicates that Ethereum will hover around $11,375 by the end of the year.

It seems that the coronavirus has hit the crypto industry very hard, but ETH is still able to achieve progress in adopting it. The adoption rate would in the long-term impact the price. ETH’s decentralized applications (dApps) registered 1.4 million active users in 2019, compared with 800,000 in 2018.

ETH 2.0 to be released this year

The ETH 2.0 project can do wonders. The project that is expected to be launched this year will incredibly impact the price as the team tries transition from proof of work to proof of stake. Therefore, block validators are needed to stake 32 ETH in an attempt to stake on the network instead of holding mining rigs.

TronWallet supports ETH with advanced release

TronWallet, a secure and decentralized peer to peer (P2P) crypto wallet, has added support to Ethereum through launching the 3.2 release, which will be followed by several significant upgrades this year.

The firm started the second quarter of 2020 with the assertion that Ethereum is a licensed cryptocurrency and its blockchain is moving ahead.

The addition follows the integration of Tron and Bitcoin in the wallet amid growing demand for completing the move.

The company has more to achieve in the future, including a new brand and new websites that are next in the list.

TronWallet will focus on amending the staking of TWX token at 5-10 percent, and then establishing a stable Bitcoin (BTCD).

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.