Crypto Spotlight: Ethereum (ETC)
In early January 2018, Ethereum hit an all-time high of $1,417.
That means in a single year, the coin has skyrocketed more than 13,765% since January 2017 when it traded at just $10.22.
And according to its co-creator, Steve Nerayoff, as quoted by CNBC, “the price of ethereum could ‘easily double or triple by the end of the year.”
“What you're seeing with Ethereum is exponential increase in the number of projects — there are billions of dollars being poured into the ecosystem right now — maybe 10 times more projects this year than last year, which could easily lead to a doubling, probably a tripling in price by the end of the year.”
Introduced in 2013 by crypto researchers and developer Vitalik Buterin, Ethereum is the said to be the next Bitcoin. At the moment, the only difference between the two is the price and the fact that Ethereum introduces smart contracts, or a computer algorithm that allows users to build or develop innovative tools and system.
They also run on Blockchain and cut out the need for third parties, thereby saving time and money by the user. According to Coin Spectator, Ethereum could price at $1,000, near-term thanks to increased popularity.
Some argue that ETC could reach as high as $4,000 just in 2018 based on the fact this its first to market with smart contracts and has more than 1,000 decentralized apps with it.
In fact, according to Cryptosrus:
“With ICOs (Initial Coin Offerings) more regulated and slowing down due to oversaturation, Ethereum’s value could grow 1,000 percent and see a potential value of $4,000 by the end of 2018 — as long as it’s scaling issues are a thing of the past. As Bitcoin’s price rises and more institutional money is flowing into the cryptocurrency market, Ethereum is the most suited for growth because of its dominant position as the platform that almost all decentralized apps run on and are being built for.”
And just in case you’re not familiar with smart contracts, they’re basically small programs that run on the logic of, “If this, then execute that,” according to Cryptosus. “When you combine multiple smart contracts together, you can create full-fledged applications that go well beyond basic transactions.”
As the crypto boom just gets underway, Ethereum could be one to watch long-term.