Should I Buy Ethereum

Ethereum is one of the most popular digital assets on the crypto market. It is second only to Bitcoin in terms of capitalization. ETH is also a platform, and people call it the world’s decentralized supercomputer. Thousands of devices provide their computing power to maintain the operation of the Ethereum network.

Ethereum blockchain remains the most famous after Bitcoin, but it is capable to carry out a much wider range of transactions. The brainchild of Vitalik Buterin can be used not only as a means of payment but also has several application cases. Based on the Ethereum blockchain, you can create smart contracts and develop decentralized apps.

During the ICO in the summer of 2014, the price of ETH ranged from $0.3 to $0.45. On August 7, 2015, after listing on the first cryptocurrency exchange, the ETH exchange rate reached $2.77. In early January 2018, you could buy Ethereum at $1396, but then the rate rolled back to $80. In May 2021, all-time-high was fixed at the level of $4168.

Today the ETH USDT pair is traded at $1,908 (early June 2022). Along with the entire market, it shows downward price movement, but being the first smart contract blockchain, it has all the chances to skyrocket again. To understand is Ethereum a good investment, we should learn about the project closely.

Facts about Ethereum

So, what are the main facts about ETH?

• Ethereum is not only a crypto asset but also a platform for developers who can build decentralized applications on the top of the Ethereum blockchain. Numerous projects related to games and NFTs run on the Ethereum ecosystem. The Ethereum Foundation is the largest developer community in the world.
• The project developers don’t stay still. The Ethereum ecosystem is supported by the founders of the project, who sold about 70,000 ETH at the peak of the price in 2018. It brought the project about $100 million, which was spent on ecosystem development.
• In 2019, the Ethereum Enterprise Alliance, Unibright, and ChainLink announced the Mainnet working group to focus on integrating the Ethereum network for enterprises. This initiative has helped bring businesses from private networks to the public ETH network.

So, if you are wondering, “Should I invest in ethereum?”, look at the project’s background and the brilliant minds standing behind it. Maybe now, as the market has dropped, this is the best time to purchase ETH for the long term.