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John Kiguru
Nov 18, 2019
by John Kiguru

New Report Says Ethereum Is Stronger Than Ever; More Usable And Functional

Ethereum
Ethereum has remained the biggest altcoin since its launch back in 2015. And with every passing year, the project and its coin have only gotten stronger. However, in more recent years, there has been concern over its usability. The network has struggled with scalability and as a result, has attracted steep competition. The launch of TRON, EOS, NEO has drawn competition for Ethereum. Its developers have however been quick to respond and upgrades are in order to ensure the network is up to standard.

Even before the upgrades, a new report has shown that Ethereum is stronger than ever. Particularly, it is now more usable and functional. The report by Coinmetrics called The Evolution of Ethereum Tokens, has dismissed concerns that many are abandoning Ethereum and that the project is weak and vulnerable. The writers further illustrate how Ethereum has evolved over the last two years. The report points out to its transformation into an asset issuance & programmable money network. Additionally, the ERC20 value is catching up to the value of ETH.

ERC20 dominance has been more evident in Q3 of 2019. In this period, ERC-20 transaction counts surpassed ETH transaction counts.

With upgrades coming in a few weeks, Ethereum will only get stronger and command more dominance in the market. Earlier in the year, we had reported that Ethereum could be abandoning altcoin status. True enough, its superiority after the upgrade could very well earn itself a self status like Bitcoin.

Ethereum Market Update

Though the report suggests that Ethereum is in a good place and on track to pulling away from its competition, its token has not been performing well. At the time of writing this, the token is trading below the crucial support of $185. It is headed below $180 which could prove costly as the bears tighten their grip.

Additionally, it has been performing poorly against Bitcoin as many altcoins have in the past few months. Approaching the end of the year, many are optimistic Ethereum will bounce back and enter a bullish path. This will especially be triggered by the upcoming network upgrades expected next month and onwards to early next year.

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New Report Says Ethereum Is Stronger Than Ever; More Usable And Functional
John Kiguru
John is an exceptional writer with a liking on technology, finance and the intersection of the two. A firm believer in the transformative potential of cryptocurrencies and the blockchain. When he is not writing, he likes to listen to Nas, Eminem and The Beatles.

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