Factors behind Ethereum current price increase
Most top altcoins have experienced a positive increase within the last couple of days. Aside an increasing altcoin scene, Bitcoin has reduced to a record low in terms of its share of the cryptocurrencies market, which is just 70.5 percent as of Friday.
There seems to be no pattern, though, in price movements among the top cryptocurrencies.
Ethereum price increase may have collided with some developments and partnership in their community.
Roman Mandeleil the founder and CEO of ether.camp however thinks that the rise in Ethereum value is more of a reflection of industry adoption.
“I don't think any specific development is the cause of the rise in the price of Ethereum. In my opinion, the increase in price is a reflection of increased adoption of the technology in the industry for Bitcoin development.”
Mandeleil says Ethereum Harmony is capable of providing full support and provisioning the full state of the smart contract and can also be used by developers to see the inside of Ethereum and make sure the network works as expected.
As the cryptocurrency industry increases and new users rushes into the ecosystem, price becomes less active. This is due to the fact that movements in price, especially in the upward pattern as observed lately, does not depend on isolated
Most cryptocurrencies show increased price movements mainly because new users are entering into the ecosystem, therefore, use case scenarios are on the increase which automatically creates demand for the cryptos and subsequent increase in value.
Tag : bitcoin news