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BusinessEthereum: Price in May and Relevant Trends

Ethereum: Price in May and Relevant Trends

Many people think of Ethereum simply as a cryptocurrency, however this is incorrect. Ethereum is a decentralised platform based on blockchain technology with numerous applications. However, those with this belief aren’t completely off the mark, as Ethereum does have a native cryptocurrency, Ether, associated with the platform, and it is also popularly called Ethereum. The price of Ethereum is currently above 1800 dollars, and forecasts predict it will surge above 1900 dollars in the coming days. With these figures, Ethereum’s cryptocurrency remains the second crypto in terms of price and market capitalization.

Learning More About Ethereum

Ethereum was born from a proposal by programmer Vitalik Buterin, who launched the idea in 2013, two years before its implementation in 2015. Unlike Bitcoin, which focuses mainly on being a digital currency, Ethereum is  intended to be a decentralised operating system that allows developers to create and run smart contracts and decentralised apps. Something that Bitcoin is attempting to replicate by establishing a new protocol, the BRC-20.

The capacity to generate and execute smart contracts is Ethereum’s most notable feature. A smart contract is a computer programme that operates automatically when specific conditions are satisfied, without the need for human intervention. This function has developed multiple uses in the internet world (mainly DApps, DeFi, and NFTs), but its main task remains facilitating the secure exchange of assets, money, or property, all without the need for intermediaries and in a completely transparent way. Ether comes into play in these transactions, providing a backing that has made it one of the leading cryptocurrencies in the sector.

Ethereum’s Price

As previously stated, Ethereum is the second most popular cryptocurrency among crypto investors, and it has recently witnessed a rebound as its price has begun an upward trend, currently standing at 1800 dollars. However, experts predict it will soon reach 1900 dollars, and some believe it will hit 2000 dollars before entering a period of stability. Many investors are closely watching their trusted exchange platform, as some of them, like the experts, firmly believe we may be entering a new golden age for the most important cryptocurrencies.

Where is Ethereum Going?

The million-dollar question is, where is Ethereum going?  Or, more specifically, where are they taking it? The key to Ethereum’s future as a platform and Ether as a cryptocurrency lies in its own updates and the behaviour of other external agents.

Firstly, it should be noted that Ethereum developers don’t seem very satisfied with their latest update, Shapella, so they have rolled up their sleeves and are already working on the next one, which will be called Dencum. The updates generate more activity around the cryptocurrency.

The actions of others can also have an impact on Ethereum’s future, as news such as Visa’s tests with incorporating Ethereum into its payment network, or Liechtenstein considering including cryptocurrencies into its government payments, will reassure investors.

Sam Allcock
Sam Allcock
With over 20 years of experience in the field SEO and digital marketing, Sam Allcock is a highly regarded entrepreneur. He is based in Cheshire but has an interest in all things going on in the North West and enjoys contributing local news to the site.
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