The total market cap of cryptocurrencies has increased 2.67x from its 2018 low, currently sitting at $267B. A notable trend within that time period is that the ETH/BTC price is at a 2-year low. Bitcoin maximalists claim this supports their belief that the only cryptocurrency that will have significant long-term value is BTC and that ETH along with all of the altcoins are worthless. ETH supporters argue that the fundamentals for Ethereum as a platform for innovation is stronger than ever and the price of ETH will ultimately reflect those strong fundamentals over the long-term. There’s no denying that in 2019, the majority of the innovation happening in our industry is happening in the Ethereum ecosystem. Whether or not this will positively impact the price of ETH in the long-term is a different question and an important one.
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1confirmation Newsletter - Issue #64
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The total market cap of cryptocurrencies has increased 2.67x from its 2018 low, currently sitting at $267B. A notable trend within that time period is that the ETH/BTC price is at a 2-year low. Bitcoin maximalists claim this supports their belief that the only cryptocurrency that will have significant long-term value is BTC and that ETH along with all of the altcoins are worthless. ETH supporters argue that the fundamentals for Ethereum as a platform for innovation is stronger than ever and the price of ETH will ultimately reflect those strong fundamentals over the long-term. There’s no denying that in 2019, the majority of the innovation happening in our industry is happening in the Ethereum ecosystem. Whether or not this will positively impact the price of ETH in the long-term is a different question and an important one.