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Here are Five Signs That Indicate Ethereum’s Time Is Now

While looking at the Ethereum network development and its shining performance, it seems that Ethereum’s time has come. The followings are the five signs that support this fact.

Ethereum has worked very hard to develop and improve its network. For this purpose, it has been building various projects and a lot more are currently being built. Also, Ethereum cryptocurrency is performing well since the beginning of this year. With strong bulls, it is currently trading at $278.53 USD with a change of 4.07% in 24 hours.

While looking at the Ethereum network development and its shining performance, it seems that Ethereum’s time has come. The followings are the five signs that support this fact.

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ETH is regarded as a hedge and Safe-haven asset

A study by San Jose State University has been recently published that examined Ether on an intraday basis. This study was conducted between Dec 2017 and Dec 2018. This study regards Ether as a hedge, diversifier, and a safe-haven asset. According to this research study:

“Ethereum crypto-currency is a hedge against the U.S. stock and gold markets. Also, Ethereum tends to behave as a safe haven for gold markets. When currency markets are concerned, we document that Ethereum is a diversifier for the US Dollar.”

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The merger of ConsenSys with JPMorgan’s blockchain division

ConsenSys is a blockchain software technology company development studio that was developed by Joe Lubin, the co-founder of Ethereum. A merger of ConsenSys with the JPMorgan’s blockchain division is expected.

JPMorgan is the largest bank in the United States and it has developed its own Quorum blockchain with the help of the Ethereum network. The bank uses it for the interbank information Network of 365 banks. JPMorgan now wants to merge its Quorum blockchain division with ConsenSys.

Institutional investors to buy Ether by paying a 220% premium

The demand for Ethereum is increasing day by day and now institutional investors want to buy Ether by using Grayscale’s Ethereum Trust and for this purpose, these investors are willing to pay a 220% premium.

Currently, in the Ethereum Trust, the price value of one share is $81.50. However, one share represents Ether worth $25.46. Apart from this some of the retail investors are also showing interest in Ether.

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DeFi funds cross $1B

The amount of funds that is currently staked in Decentralized Finance applications has crossed the $1 billion figure. Ether has 70% of this total amount present in DeFi.

Several projects are being built on the Ethereum blockchain. The founder of the third-largest Defi project Synthetix Kain Warwick has shown people how much potential Ethereum has. He stated:

“The idea that Ethereum is replicating these traditional financial applications on a decentralized platform has finally crossed the chasm and got to the point where people understand it.”

ETH has the highest price value since July 2019

The price value of the second-ranked asset has gone above the $275 mark which has become its seven-month high. Ethereum is trading greenish from the early Januaries and its value has doubled since the start of this year.

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Tokenhell

Tokenhell is a blockchain & crypto news agency where you can discover all the recent news about cryptocurrency and blockchain.

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