Possible Factors That Might Be Behind Ethereum’s Instability

2018-8-3 17:42

In recent months the performance of ethereum has not  good even though that many within the crypto community in general and the ethereum community in particular expect it to outperformed its present value after it started picking by more than 120% between the first two months of the first quarter.

This has raised a lot of concern if the coin could survive this year 2018. Some of the reasons why this is so are:

1)increased interest in bitcoin
2) increased number of reliable blockchain protocol standard providers
3) increased knowledge on how to invest wisely
4) increased gas fee

Increased interest in bitcoin

Even though that the Security and Exchange Commission has confirmed that ethereum is not a security. Many within the crypto community felt that the news will stabilize the price of ethereum. However, this could not be observed.

There is a high interest in bitcoin which is the most competitive coin before ethereum in market capitalization. Many had adviced that crypto holders should try and hodl bitcoin since the launch of bitcoin ETF will moon the coin.

Increased knowledge in blockchain protocol standard providers

Ethereum had been the major name in the establishment of decentralized applications for startups. However, some other Blockchain protocol standard providers had remained competitive in recent time by allowing start-ups to create coins that are doing well with little or no programming skill. The protocols include Stellar blockchain protocol, Neo blockchain protocol, etc.

Increased knowledge on how to invest wisely

There had been a strong quest for knowledge on how one could trade and invest wisely in cryptocurrency with some institutions offering professional certification in it. This has made people that it is good to invest in a project and not in a name since there are projects that are presently giving higher yield to it’s investors while others are crying of high volatility of the market.

Increased gas fee

Actually, the impact of gas fee could not be ignored as it has a direct impact on the general performance of a coin. The gas fee has increased for ethereum in confirmation time for a transact increased. This has contributed in reducing the high demand for ethereum, since many businesses are willing to accept other crypt I currencies for payments for a product or services.

The post Possible Factors That Might Be Behind Ethereum’s Instability appeared first on ZyCrypto.

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