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Ethereum ETH: Should you Invest in Ether Coins?

If you are a cryptocurrency trader or investor, you have definitely heard about Ethereum (ETH). It is the second-largest cryptocurrency, in terms of market capitalization, just after Bitcoin (BTC). Its price is currently hovering around US$3,521.07. What’s its future? Should you invest in it? Let me walk you through some of the most important aspects related to Ethereum (ETH). 

What Is Ethereum (ETH)?

Ethereum is a decentralized open-source blockchain system. Ether, denoted as ETH, is the native token of the Ethereum blockchain network. One of the best things about Ethereum is that it works as a platform for:

  • Other cryptocurrencies (as ERC20 tokens).
  • The execution of decentralized smart contracts.

Aim of the Ethereum Project

Ethereum wants to become a global platform for decentralized applications, which will allow users across the globe to write and run the software, which is resistant to:

  1. Fraud
  2. Censorship
  3. Downtime

Founder & Brief History of Ethereum Blockchain

Vitalik Buterin is the founder of the Ethereum blockchain. This network was co-founded by 8 individuals. Besides Russian-Canadian Vitalik Butherin, the other co-founders of the Ethereum network are:

  1. British programmer Gavin Wood
  2. Anthony Di Iorio
  3. Charles Hoskinson
  4. Mihai Alisie
  5. A Canadian entrepreneur, Joseph Lubin
  6. Amir Chetrit
  7. Jeffrey Wilcke

It was in 2013 when Buterin first described the network and technology involved through a whitepaper. In the summer of 2014, he along with other co-founders organized an online public crowd sale for securing funds for the project and went on to raise US$18.3 million in Bitcoin. 

During the ICO (Initial Coin Offering), the price of each ETH was just US$0.311, and more than 60 million Ethereum coins were sold. Since 2014-summer, the price of ETH has increased by around 270% every year till now, quadrupling your investment every year. 

The Ethereum blockchain was officially launched by the Ethereum Foundation under the prototype codenamed “Frontier” on July 30, 2015. This blockchain has witnessed multiple updates (called hard forks) by the Ethereum community since 2015. These hard forks are:

  1. “Constantinople” on Feb. 28, 2019
  2. “Istanbul” on Dec. 8, 2019
  3. “Muir Glacier” on Jan. 2, 2020
  4. “Berlin” on April 14, 2021
  5. “London” hard fork on Aug 5, 2021.

Ethereum Coins (Ether or ETH): Facts & Figures

All these facts and figures will help you to make a decision on investing in ETH:

  • ETH cryptocurrency current price: US$3,537.11 (as of Oct 7, 2021)
  • Trading Volume (24h volume): US$22,251,385,161 (as of Oct 7, 2021)
  • All-Time High (ATH) Price: US$4,362.35 (reached on May 12, 2021)
  • All Time Low (ATL) Price: 0.4209 (Oct 21, 2015)
  • 24h Low: US$3,354.47 (as of Oct 7, 2021)
  • 7d Low: US$2,978.65 (as of Oct 7, 2021)
  • YTD (Year-To-Date) Return: 385.68% (Jan 1, 2021 to Oct 7, 2021)
  • Market Cap: US$415,139,348,853.31
  • Crypto Rank (in terms of market cap): 2
  • Fully Diluted Market Cap: US$415,139,348,853
  • Max Supply: ---
  • Total Supply: 117,824,936
  • Circulating Supply: 117,824,936.37 ETH

What’s so Special about Ethereum?

Ethereum blockchain network has 2 specialties:

  1. It was Ethereum that pioneered the blockchain smart contract platform concept. Smart contracts are computer programs that help in automatically executing agreements between several parties on the internet. Smart contracts have pre-defined parameters, which when satisfied, execute agreements, thereby doing away with the need for intermediary contractors. This not only enhances the reliability of transactions but also reduces transaction costs. 

  1. Ethereum’s blockchain can host other cryptos, called tokens, by using its ERC-20 compatibility standard. It is estimated that over 280,000 ERC-20-compliant tokens are launched on the Ethereum blockchain till now. In fact, more than 40 such ERC20 compliant tokens are among the top 100 cryptocurrencies in the world including:
  1. Chainlink (LINK)
  2. Binance Coin (BNB)
  3. Tether (USDT)

Ethereum London Hard Fork: A Watershed Moment in the History of Ether (ETH)

One of the main problems of the Ethereum network is its high transaction fees, especially due to the high demand of the network from multifarious projects (including decentralized finance DeFi, decentralized applications Dapps, NFTs, and others). The network’s average transaction fee reached an all-time high at US$71.72 in May 2021. In fact, the Ethereum blockchain also suffers from scalability issues.

To solve the dual problem of high cost and scalability issues, the network has decided to transition to a proof-of-stake algorithm. The process of transition to ETH 2.0 has already started. Some upgrades have already been done including the London hard fork. 

The London upgrade took place in August 2021, making 5 Ethereum Improvement Proposals (EIPs):

  1. EIP-3529
  2. EIP-3198
  3. EIP-3541
  4. EIP-1559
  5. EIP-3554

The most popular update among them is EIP-1559. This upgrade introduces a mechanism changing the way in which the gas fees on the Ethereum blockchain are estimated. Instead of the requirement of participating in an open auction for their transactions to be picked by a miner, EIP-1559 introduces the first-price auction where the highest bidder wins. An automated bidding system controls this bidding process where you can give a base fee for transactions or a priority fee for faster inclusion. 

A fee-burning mechanism has also been introduced by EIP-1559. According to this, a part of the base transaction fee is burned and removed from circulation. It lowers Ether’s circulating supply and potentially increases token value over time. Estimates point out that more than US$1 billion with of Ether (ETH) has been burned in less than 2-months since the implementation of the London Hard Fork by the network in mid-August 2021. 

How Is the Ethereum Network Secured?

The Ethash proof-of-work algorithm of the Keccak family of hash functions secured the Ethereum Network till Aug 2020. However, after the major Ethereum 2.0 update (Ethereum 2.0 Beacon Chain (Phase 0)) in December 2020, staking on the network has become possible. It is the staking process that secured the Ethereum network now.  

Ethereum Price Prediction 2021 to 2025

The price of each ETH is US$3,537.11 as of October 7, 2021. 

  • By 2021-end, the ETH price is expected to be anywhere near US$4,500. 
  • By 2025, the ETH price is likely to be anywhere from US$11,170 to US$19,842. 

Where Can You Buy Ethereum (ETH)?

You can buy ETH in almost all reputed cryptocurrency exchanges including:

  1. Coinbase Pro
  2. Binance
  3. Kraken
  4. OKEx
  5. Huobi Global, and other crypto exchanges.

You can use credit cards, debit cards, or bank account transfers to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange. The most popular price pairs of ETH are:


Where to Store Ethereum Coins (ETH)?

The best Ethereum wallets to store ETH are:

  1. Trezor One
  2. Ledger Nano S
  3. Metamask
  4. Exodus
  5. Mist

Invest in Ethereum (ETH) and Other Cryptocurrencies

You can buy and sell Ethereum (ETH) and other cryptocurrencies against various fiat currencies (US Dollar USD, British Pound, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs, and bitcoin cash markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility. 

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit. 

You can also diversify your crypto coin portfolio by including other cryptocurrencies such as ETH, BCH, BTC, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others. 

Also, invest in various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. 

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NapBots provides you various indices that include a basket of tokens with high market capitalization and are categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools for enabling new investors to create and manage advanced crypto indices easily.

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