The Ethereum price in the past year has been primarily fueled by the rise of decentralized finance (DeFi) and NFTs, two white-hot market segments that are ushering more users into crypto.
Ethereum has re-defined pop culture bringing NFTs (Non-Fungible tokens) to social media platforms as digital avatars. Famous athletes like Steph curry and celebrities like Jimmy Fallon are on the bandwagon.
For all its benefits, Ethereum has its pain points too, not least of which include high fees and slow transaction times, neither of which have helped the Ethereum price lately. Ethereum addresses these issues with the ongoing transition to Eth 2.0, designed to make transactions cheaper and faster.
Check out: – Solana (SOL) – Avalanche (AVAX) – Terra (LUNA) – Binance Smart Chain (BNB)
While the Ethereum price remains in the doldrums, there are plenty of market bulls who believe that there’s plenty of runway for gains ahead. But investors do need to watch out for the bears.