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Ethereum Is Responsible for Another Crypto Bull Run?


Aside from Bitcoin, the only altcoin that has been considered by the US SEC as a commodity is Ethereum. These days, there are thousands of different cryptocurrencies. And unfortunately, a lot of these cryptocurrencies are considered dead or even useless.

But what makes Ethereum different is the fact that it offers a platform for different projects. In fact, Coinbase, Circle, and other major cryptocurrency companies are looking forward to what Ethereum could bring to the table.

If you will ask the co-founder and CEO of Circle, Jeremy Allaire, he said that there is a chance that Ethereum could actually be the catalyst towards another bull run for the entire crypto industry. The reason behind this prediction is the number of developers within the Ethereum ecosystem.

Growing Number of Developers

Currently, there are more than 300,000 developers on its network. In addition to this, there will be 50,000 additional developers to be added to the team on a monthly basis.

CEO of Aragon, a decentralized governance protocol on Ethereum mentioned that “there’s a gold rush among developers to learn the coding language of money”. He also mentioned that he doesn’t know any Ethereum developer who hasn’t become a millionaire yet.

Ethereum plays a major role in the long-term growth of crypto according to Allaire. He believes that Ethereum can be a base layer for different types of blockchains and dApps. He mentioned that “One of the things that really catalyzed the (cryptocurrency) market last year was actually that Ethereum, in particular, kind of got to a place where you could build apps on top of it. You could issue new tokens on top of it; you could create new kinds of financial contracts, using smart contracts technology. It also catalyzed a lot of competing infrastructures to Ethereum”.

Brian Armstrong as ETH Believer

Brian Armstrong who is the CEO of Coinbase is a believer in Ethereum. He’s been consistently optimistic to its potential. In fact, he even mentioned that he personally owns more Ether than Bitcoin. And this is a big deal since he is the CEO of the largest cryptocurrency exchange today.

There are many billionaires that are optimistic regarding Ethereum mainly because of the updates happening in its network. There is the imminent launch of two-layer scaling solutions namely Plasma and Sharding. Considering that 90{4ede17fdd9b4ce8121d01fc4b54913fe84f8215aace504cc657695cefb5329ff} of public blockchains and cryptos are based in Ethereum, this could be a good reason why people are quite optimistic regarding Ethereum.

Google Lists ETH

Recently, Google has included Ethereum, Litecoin, and Bitcoin Cash in its converter. Here, you will automatically know exactly how much these altcoins cost in fiat of your choice. This is a big deal since even Google is slowly considering the use of cryptocurrencies among individuals. The search engine simply makes conversions easy for its users.

There are many issues regarding the future of cryptocurrencies. It seems though that unlike other altcoins such as Ripple that is facing trouble for potentially being a security, Ethereum has secured its spot to the point wherein prominent players actually think that Ethereum is the future of crypto. Will Ethereum actually cause another bull run to happen any time soon?

John Jayme

John is a crypto investor, enthusiast and copywriter. He is in charge of daily news and other emerging trends in blockchain technology.