While Bitcoin (BTC) continues to conquer the cryptocurrency industry, Ethereum (ETH) is also proving to be one of the most reliable assets. At present, Ethereum (ETH) is the second-largest cryptocurrency in the world with respect to market capitalization.
In the entire year of 2020, while Bitcoin (BTC) was making headlines and gaining mainstream success, Ethereum (ETH) was busy doing the same. However, it got overshadowed by the high price and demand for Bitcoin (BTC).
Similar to the rest of the cryptocurrencies, Ethereum (ETH) has also managed to gain as much user-base as the rest of the cryptocurrencies. In the year 2020, Ethereum (ETH) also achieved all-time highs and its prices are also surging with every passing day. At the time of publishing, the price of Ether (ETH) is $973 and by the end of 2020, it was sitting at $738.42, which was an all-time high for the particular year.
In a matter of just four days, Ethereum (ETH) has managed to gain an increase by $234.58 bringing it all the way up to $973 per Ether. However, this is not a full stop for the Ethereum’s price as it will continue to grow bigger and better.
One of the main factors in Ethereum’s (ETH) price increase is the same as that of Bitcoin (BTC). When PayPal announced that it was going to integrated Bitcoin (BTC) into its platform, it was not the only crypto-asset PayPal had adopted. It was revealed that Ethereum (ETH) was also added to PayPal’s platform where the customers could buy, sell, or trade it from.
As per many analysts and crypto-experts, Ethereum (ETH) will continue to gain more recognition and mainstream adoption. As per the stats and figures, it is evident that Ethereum (ETH) gained a 400% increase in its value only in the last year. It was only back in 2018 when Ethereum (ETH) had managed to go this high only to take a huge drop to its value and coming down to around $200 per Ether.
In the year 2020, Ethereum (ETH) has not only gained an incentive to its price and capitalization, but it has also gained a lot of technological boosts and innovations. There have been several testnets introduced into the Ethereum (ETH) network in the year 2020.
With the user-base, demand, and transaction volumes increasing in 2020, the Ethereum (ETH) network did start facing issues with its operations. The issues were caused mainly due to the network fluctuations, transaction delays, and high-transaction fees.
However, the brains behind the development of Ethereum (ETH) were quick to respond to this problem and addressed it in the most authentic manner. To tackle the problem, Eth2.0 has been introduced that is set to take Ethereum (ETH) and its adoption to higher levels in 2021.