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Ethereum is underrated by the community, says Blockfyre

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Ethereum is underrated by the community, says Blockfyre

Ethereum is underrated by the community, says Blockfyre
CONTENT

  • The ETH price should be several times higher

  • Indicators show the growth of the Ethereum platform

  • Will the coin reach its maximum in 2020

International consortium of news organizations developing transparency standards.

Analysts at Blockfyre conducted their own study of the development of the Ethereum ecosystem and came to the conclusion that the coin is trading several times lower than it should. At the same time, in their report, the experts focus on 4 factorand, which indicate that ETH has made tremendous progress in its development.

Ethereum is underrated by the community, says Blockfyre

Etherеum platform today

 

The first and foremost factor that indicates a network’s health is development activity. Studies show that since 2014 the company has significantly increased its potential in this matter and developed new applications, regardless of the price behavior in the market..

The second indicator signals the constant development of the network. So, the gas indicator already reaches ATN, which indicates a widespread network among users.

Ethereum is underrated by the community, says Blockfyre

The average time spent in dollars shows how long $ ETH remained in its address without moving. This figure has been steadily increasing since 2018, recently reaching ATH, showing that investors prefer to accumulate and hold ETH at these price levels..

The same applies to the balance of the USD / ETH miner. This indicates that even miners who need to sell their mining rewards to cover their costs prefer to hold on to current price levels..

Overall, while the price has dropped significantly since its peak in January 2018 and continues to fall after the 2018 EOY, the success of Ethereum and several other indicators is very promising for Ethereum and USD / ETH..

What will happen to Ethereum

 

BeInCrypto previously reported that ETH has been trading within a long-term symmetric triangle since early 2020. Of particular interest is the dynamics of the second largest cryptocurrency near the support line of this triangle: the price dropped twice under the 200-day moving average, after which it bounced and went on to confident growth.

The last time such dynamics was observed was on May 14, the same day when BTCD peaked. During the rally, Ethereum successfully confirmed support status around районе0.023.

Ethereum is underrated by the community, says Blockfyre

It also became known that a sudden fork occurred on the Ethereum 2.0 Schlesi test network. In the cryptocurrency world, a fork is, in fact, a change in the blockchain protocol. Since cryptocurrencies operate on decentralized networks, all parties … More. Ethereum co-founder Vitalik Buterin responded to a sudden fork in the Schlesi test environment. He claims that unscheduled forks occurred continuously between March and April 2015 on the Ethereum Olympic testnet. So far, there are discussions in the developer community about whether what happened is a positive event or not..

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