1. PixelPlaygroundHome
  2. Metaverse Insights

What was the earliest price of Ethereum (Ethereum’s beginning)

• Metaverse Insights • 154 views

What was the earliest price of Ethereum? According to ambcrypto, what was the e

What was the earliest price of Ethereum (Ethereums beginning)

What was the earliest price of Ethereum? According to ambcrypto, what was the early price of Bitcoin in the early 17th century? The price at that time was $1. However, no one could confirm what happened to it. Starting from the mid-19th century, when people became interested in Bitcoin, they would know that this thing had already been invented, so there were later cryptocurrencies like Ether, Bitcoin Cash, and Litecoin. Ethereum, which is Ether, was initially born in 2017 through an Initial Coin Offering (ICO).

Ethereum’s Beginning

The establishment of Ethereum started in 2015 due to a technical problem that occurred after the appearance of Bitcoin, which was the “block size limit”. At that time, the prices of both Bitcoin and Ether were very high. In the bull market of 2017, people believed that Ethereum could achieve growth rates of over one million times, which means it reached a block size of 40 billion two years earlier than BTC.

But the situation now is quite different: when the price of ETH dropped to $1 (about five years later), investors shifted their attention to other digital assets such as Bitcoin, Litecoin, Monero, Stellar, and even Stellar Sphere. These were in the early stage of cryptocurrencies and did not hold much value. However, with the continuous development of blockchain technology, its network effect became increasingly apparent.

Nevertheless, many people still believe that Ethereum is a reliable solution. Although Ethereum’s developers have been working hard to implement the core functions of the platform, they are not fully prepared because they are not ready for a mainnet upgrade. “We need a strong underlying infrastructure to support this goal.”

According to CoinMarketCap’s data, as of the time of writing, Ethereum’s market share has dropped to nearly 80%. However, despite the current transaction fee of Ethereum being about $0.002, users seem to be investing their funds into this decentralized network. “I believe Ethereum will eventually become stronger!” explained Kevin Rooke, a researcher at CoinMetrics. “If you want to know why you should invest in Bitcoin and some other altcoins, you should first consider its fundamentals.”

In addition, the founder of Ethereum, Vitalik Buterin, has stated, “Ethereum has become one of the most widely used smart contract applications globally. It is one of the largest blockchain protocols in the world and one of the most significant software applications to date.” He added that Ethereum’s key features include lower gas costs and higher throughput; faster speed and cheaper transaction processing capabilities, as well as faster confirmation times, etc.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/23933/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/15/2023 00:43
Next 08/15/2023 01:05

Recommended articles