As some predict the cryptocurrency markets have flattened and are now set to recuperate, Ethereum seems to be quietly leading what may or may not be a recovery along with a 11.5% overall price increase for ETH across the week.
Considering Ethereum technology has the widest adoption currently inside the sector, it will be surprising its Ether performance isn’t better. This week’s major dip, then recovery, for ETH happens to be pinned to a selloff of shorts and various market behaviors rather than a specific event.
So, what is happening with Ethereum at this moment?
ICO Projects Still Hold $500 Million in ETH
Reassuringly, the assumption of some investors the fact that the selloff has included ICO projects deployed on Ethereum is actually put to rest by researchers at Diar. The publication concluded Ethereum-based projects hold over $500 million in ETH, a figure that’s not moving right this moment.
“Some of the most popular and anticipated projects, some of which have yet to launch, are using treasuries north of $500M,” repeat the researchers.
Ethereum Development is Strong
Ethereum-based development is without a doubt continuing apace. CCN interviewed Sam Cassatt, Chief Strategy Officer of ConsenSys at TechCruch Disrupt Silicon valley this week. ConsenSys are leading the charge in global Ethereum-based development with Cassatt confirming:
“ConsenSys Solutions takes the Ethereum Blockchain technology, designs an option based on it and then implements that.”
ConsenSys is creating “manifestations” of blockchain technology while “helping every one of the incumbents in the world realize use cases of Blockchain while doing so,” explained Cassatt:
“Our general technique to just get the whole ecosystem of Ethereum, ensure it is into the hands of a large amount of corporates and as many governments as is feasible and get the whole world and realizing what you can do.”
Suggested Reading?: Dive deep into Etheruem in your beginner’s guide.
Ethereum 2.0 Roadmap
The Ethereum 2.0 roadmap was published about a week ago, which included confirmation of plans for that Ethereum blockchain to be completely Internet of Things compatible by the end of November 2019 .
Rocket Pool took a detailed look at the roadmap and prospects for Ethereum that may see it be considered a key piece of technological infrastructure as well as a platform for first time economic systems globally.
Ethereum’s not without competition just for this space throughout our technological future. However, there are lots of Ethereum projects in development. If a handful prove successful in coming months the value of ETH may rise, fed with that success.
Is Ethereum leading a recovery? It is difficult to tell, however this week does see ETH using the highest percentage price increase outside the top 15 cryptocurrencies by market capitalization. ETH is beaten significantly by Tezos at 16th by market capitalization showing a nutritious 32% price increase around the week.