Where is the intrinsic value of Ethereum reflected now?
At the time of writing, Ethereum appears to be receiving a lot of attention from various quarters in the industry,Despite the recent successful debut of the Ethereum 2.0 beacon chain as an important highlight, the price of ETH seems to continue to establish itself in the higher range.
Now, in terms of its price, Ether also shows that the aforementioned growth has occurred.
According to a report from Santiment, Ethereum addresses hit their highest single-day spike as more than 177,000 addresses were created in the past 24 hours, a very positive indicator that hasn’t been seen since January 2018.
secondary title
Is network growth and price correlated enough?
To understand the above narrative, look again at the previous chart, network growth has also been common in the past, but it has never kept prices higher. With ethereum being considered the "best" cryptocurrency after bitcoin, the launch of ethereum 2.0 could create a whole new identity for another leading cryptocurrency.
But is this really the case?
Activity around ETH 2.0 has indeed picked up pace in 2020, but there is always a veil of uncertainty surrounding it. The delay didn't help, but the beacon chain was finally launched and interest is skyrocketing today.Currently, more than 2% of all ETH is in circulation on the new network.
secondary title
The Value of a Safety Network
There is no doubt that Bitcoin will continue to be the most valuable cryptocurrency asset in terms of value. However, in Ethereum's new model, ETH will be destroyed rather than sent to transaction validators, soThe deflationary aspect could come into play in unprecedented ways.
Ethereum will help participants secure transactions and settlements in a more secure manner, which will have its own value and its perks as the most defensible cryptocurrency in the world.
The value of defending vital blockchain networks will remain evident, which may be the future market of Ethereum.
The original text comes from ambcrypto, compiled by Blockchain Knight, the English copyright belongs to the original author, please contact the compiler for Chinese reprint.
The original text comes from ambcrypto, compiled by Blockchain Knight, the English copyright belongs to the original author, please contact the compiler for Chinese reprint.
