“The reason Ethereum has been so successful for distributed applications is its low cost,” Gavin Smith, CEO of the cryptocurrency hedge fund Panxora, said Monday in a phone interview. ... Prices for ether, the native token of the Ethereum network, have risen 105% this year, a performance that dwarfs bitcoin's 32% climb.
In overall, why did ethereum drop 2018?
The revelation that the SEC is placing more regulatory pressure on ICOs likely caused the ethereum market to lose its footing. Regulatory moves are a common catalyst for cryptocurrency price crashes.
Come what may, why is XRP not increasing? Why is XRP (Ripple) not going up? ... Most of Financial Institutions and specifically banks, can not announce the use of XRP without regulatory clarity and crypto friendly policy. Generally the market is not rising because there is no great demand and adoption and the reason behind that is regulatory uncertainty.
Anyways, why did ethereum spike today?
Why ETH price is surging and the demand for Ethereum is consistently growing. The explosive demand for Uniswap and small decentralized finance (DeFi) tokens has created a consistent demand for ETH. On the Ethereum blockchain network, users have to utilize ETH to cover transaction fees, which is also called “gas.”
What made ethereum rise?
Three key catalysts are seemingly behind the ETH rally. Since early 2020, the anticipation of Ethereum 2.0, which would enable staking for users, pushed the demand for ETH upward. ... When new protocols, like Compound, introduced their incentive systems, the demand for decentralized finance increased even further.