Ethereum (ETH) is a well-known project in the crypto industry. It is the second largest coin by market cap, and likely the second most important cryptocurrency that was ever developed. In both cases, it was bettered only by Bitcoin itself, which places it quite high on the importance scale.
However, while nobody can deny the project’s importance for the crypto industry — as it is responsible for shifting the attention from cryptos to blockchain — many are starting to wonder if it is still a good investment. There was a time, not too long ago, when Ethereum was a go-to project for those who wanted to create a new cryptocurrency, smart contract, or a dApp.
The project was faster than Bitcoin (albeit not that much), and it was the record holder for the number of transactions per day, week, or month. However, its own scalability issues, plus the fact that its fees were relatively large, as well as the necessity to learn its own programming language to use it, inspired developers to create multiple alternatives. Today, Ethereum is far from being the only development platform in the industry. It is also quite far from being the best for dApp and token development.
It has several competitors these days, including TRON — a project that started on Ethereum — as well as EOS, both of which continue to grow and attract not only dApp users but even dApp developers. But, what does that mean for Ethereum? Is it still a good investment today? Will it be worth it in the future?
Is investing in ETH worth it?
Investing in Ethereum — or any other cryptocurrency, for that matter — was a difficult thing to do in 2018. With the prices constantly on the decline, there were some investors who took the chance to invest while the coins were cheap, but not a lot of them wanted to risk losing money. These days, things are starting to turn, and with the growing prices, ETH is seeing the return of investors, which is the trend throughout the crypto space.
The coin has seen several strong surges, and while it is still far away from its all-time high — its price is currently at $172, which is quite a bit higher than where it was at the beginning of the year. Even so, this still does not answer the question — is ETH a safe and worthy investment?
A lot of people tend to point out that the volume of Ethereum’s ecosystem has gone down significantly from its glory days. However, this is not an indication that there is something wrong with the project, or even that there is a lack of interest. The ‘glory days’ were the days of ICOs — the days when pretty much anyone could come up with their own new coin and launch it.
Coincidentally, the easiest way to do it was on Ethereum’s blockchains. However, while these projects saw a lot of trading in 2017, thus contributing to the ecosystem’s volume, the situation turned in 2018 when the crypto winter struck.
Some of the projects were weak, and they died out when things got tough. Others were scams that disappeared in time. And then, there are tokens that left the ecosystem in order to create their own, such as TRON itself. The loss of volume combined with the price decline did not help Ethereum’s reputation. Then, there are competitors, like TRON and EOS, which have improved their projects and started attracting dApp users and developers.
This is only natural, as they can handle greater numbers of transactions almost instantly, and they do not charge fees for every single microtransaction that occurs while using dApps. However, it is also worth noting that most of their dApps are gambling-related, and gambling is a touchy subject around the world. Meanwhile, Ethereum’s dApps remain much more diverse.
What do the experts think?
Ethereum predictions given by the experts seem to be quite bullish, too, which is another indicator that the project does have value. The founder of Joe Technologist.com, Joseph Raczynski, believes that ETH will surge to $1,200 by the end of the year. Ian McLeod of Thomas Crown Art is also bullish on ETH, although less than Raczynski. He predicts that ETH will reach around $500 by the end of 2019. Then, there is Nigel Green of the deVere Group, who believes that ETH might surge to $2.500 by the year’s end.
Clearly, ETH is seen as a worthy investment by all of these experts, and its importance for the crypto space cannot be denied. Further, Ethereum’s Vitalik Buterin does not seem to be concerned regarding the migration of dApp users and developers. According to him, Ethereum’s main purpose was always to provide smart contracts, which is the area where it is still the best. As such, ETH does remain a safe investment and is more than worthy of considering, even in 2019.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…
My Crypto Heroes Announces Issuance of MCH Governance Token
Tokyo, Japan, 24th November, 2020, // ChainWire //
My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH.
My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.
What is MCH Coin?
MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.
Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.
The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:
During December 2020 the first governance…