Yesterday, Ethereum hit an all-time high of $2196. Even Bitcoin surpassed the $60k and $61k price point but was unable to clear the all-time high made on 13th March. And as this happened and ETH continued to give strong gains, it also became the most popular crypto on Youtube. Yes, even though Ethereum is much behind Bitcoin in terms of market cap and institutional investments, it is still more popular. This is because of the more practical use of ETH in the community and better returns than Bitcoin.
Ethereum price rise!
The price of ETH has risen past its all-time high and is currently trading above $2100. This shows how bullish the market is for cryptocurrency. A while back, it received a lot of backslash for the huge fees and production of new tokens. But now, the developer of Ethereum announced Ethereum 2.0 that will address a lot of problems associated with the older version of the cryptocurrency. So, the recent price rise of ETH also seems to be associated with this new announcement.
For those who don’t know, the new version of crypto will bring two main changes. These will be reductions in transaction fees and negative inflation. By negative inflation, we mean that unlike before, where the number of tokens in existence only went up, this new update will burn tokens every time a transaction happened. And this will significantly lower the inflation rate (even make it negative). This will, in turn, result in a lower supply of ETH, and higher demand will push it high.
Analysis suggests that the price of Ethereum could cross the $15k price point by the end of 2021. And it will not be surprising if that is just the lower limit of the monumental gains that lie ahead in the future.
How popular has Ethereum become?
The statement is pretty abstract when we say that it has become the most popular crypto on Youtube. So, let’s take a look at some numbers. As per the data from LondonLovesBusiness, the total number of views of Ethereum was 23 crores 1 lakh. And the 2nd most popular coin, Bitcoin, had almost 20 crore views. This means Ethereum is ahead by over 15% in terms of search and views. As of now, the new changes in the ETH blockchain have not been implemented yet. So, once it does, we can expect that the popularity of ETH is at least as much if not more.
What are your thoughts on ETH becoming h the most popular crypto on Youtube? And do you think that Bitcoin will be able to regain its position? Let us know in the comments below. Also, if you found our content informative do like it and share it with your friends.
Also Read: Bitcoin slips below $60k once again as bulls lose control