A few days back I wrote is it a good time to buy bitcoin some said yes some said no it depends on them as I predicted the btc price keeps on rising do check it out here. Now I am back with another article about Ethereum. Lets see the reasons why u should buy Ethereum.
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At the time of writing this article eth price is around $600 usd and it is rising it is already up by 13% today according to coingecko. And expert predict at the end of the bull run eth price will be around atleast $40k or more. Lets explore the factor why eth price is rising and why u should invest it now.
1. Bull run
Yes, As btc is facing high resistance around $18,750 the bull market is slowly creeping into alts and the first alltcoin to witness it is as always is etherum. But it is different frm btc is price increase while btc price pump is mainly derived frm institutional investors eth surge in price differs as it price rice due to various various other factors
2. Defi
The defi market place is exploding. Since May 2018, the total value locked up in defi protocals are nearly $3.75 billion. The most used defi protocols include Compound, Synthetic, Aave, Maker, Curve finance. And these platforms user base are also constantly increasing.
3. Staking and lending platforms
As u know there are numerous platforms out there that offers rewards when u stake Ethereum like atomic wallet, crypto.com. And numerous cefi( Centralized finance) platforms like Celsius and nexo. More and more Etherum are being hodl there by users as they can keep ether safe and also can earn interest on them as monthly, weekly and daily basis. U can visit my top 5 wallets here.
4. ETH 2.0
As eth 2.0 is set to launch on coming December, the no of eth holders staking their eth is on the rise currently 98,203 eth has been staked in eth2.0 contact and a total of more than 5 million is needed to launch eth 2.0 which means more people will stake their eth in coming days. which means less eth available in open market.
5. Paypal
As u might already know PayPal recently and suddenly jumped into crypto business. Though we do not yet know what is their motive and what are their future plans what is important is PayPal launched the platform with only 4 coins they are bitcoin, litecoin, Ethereum and bitcoin cash. This information alone increased the price and One more important thing is that these all coins are mined buy miners and it is mined daily. Because of this PayPal currently buys 70% off all newly mined coins. Which leads to low availability of eth in free market.
All these means denote as few things
New projects based on eth is rising.
More and more eth is locked up on defi projects
More eth's are locked up in cefi projects.
More eth is locked up on Eth 2.0
More eth is bought by PayPal.
Last but not least Eth 2.0 launch nears.
These all factors will only lead to one thing less eth is available in exchanges which in turn sky rockets the price. I will tell u once more buy before its too late.
I hope this article is helpful to u, I would like to hear your thoughts on this. If u have any doubt about investing or if u want my thoughts about a particular project pls comment down below.
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its too late to buy eth lol