Veteran Foreign Trader: You Might Regret Not Buying Ethereum at $200

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The latest Ethereum bulls seem to be able to rejoice as ETH has finally breached the psychological barrier of $200 after more than 5 months. Experienced trader Josh Rager pointed out that ETH's current price of $200 is still 85.88% below the all-time high of $1417.38 set in January 2018, which may be a good time to buy in the long run.

Considering that many weaker projects were purged from the platform during the crypto winter period, DeFi has brought amazing growth, and the rapid development of Ethereum 2.0, the cryptocurrency seems to be ready for the "moonshot plan".

In addition to the technological advancements being made, DeFi has created a huge demand for ETH itself, the underlying collateral behind all DeFi smart contracts such as MakerDAO, Compound, Dharma, DyDx, etc.

All of these platforms allow users to access bank-like services through smart contracts without middleman fees. They can borrow money, earn interest, make transactions, but all of this requires ETH to support smart contracts, and we may see this demand cause further price increases.

In addition to the increased demand for ETH caused by the growth of DeFi, we may see intense competition among investors leading to a price war in an attempt to accumulate the 32 ETH required to participate in Ethereum 2.0.

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Will Ethereum investors be crazy about Staking?

If the nascent Lightning Network is anything to go by, ethereum investors could similarly catch some frenzy and start betting while the main network is still in beta development. We saw many Bitcoin investors do the same in the earliest iterations of the Lightning Network and fund payment channels with real BTC.

The Ethereum Foundation just released a set of good news about the progress of the Ethereum 2.0 storage ETH smart contract audit. The code has been formally verified and analyzed with no apparent flaws.

Another major development is that the Beacon chain of Ethereum 2.0 is undergoing performance optimization. The core function of the Beacon chain is to manage the PoS protocol (Casper) and all fragmented chains on Ethereum 2.0.

In addition to the technical advancements made in the smart contract code and the Beacon chain, the Ethereum development team and foundation are working out the standardized details of how Ethereum 2's shards will communicate and synchronize. This is a huge step forward for Ethereum's scalability improvements.

The original text comes from Bitcoinist, compiled by the BluemountainLabs team, the English copyright belongs to the original author, please contact the editor for Chinese reprint.

The original text comes from Bitcoinist, compiled by the BluemountainLabs team, the English copyright belongs to the original author, please contact the editor for Chinese reprint.