Over the past couple of weeks, we’ve seen a nice rally for Bitcoin and a number of popular altcoins. Amid the talks about altcoin seasoning coming back in full force, there’s even been talks about riding Lamborghinis to the moon again. So, why does it seem like Ethereum is left behind?
Spoiler alert: it’s not.
Ethereum may be slow to rally, but it’s every bit committed to playing the long-term game. Ethereum-based blockchain projects have partnered with some of the world’s leading companies to integrate blockchain technology into contemporary society. In fact, JPMorgan announced they were committed to using Ethereum when talking about their own plans to use cryptocurrency to enable faster corporate payments.
On top of that, Ethereum may be at one of the better investment opportunities at the moment. It benefitted from a 6% increase in value over the weekend, and it’s poised to go even higher as more money enters the cryptomarkets.
Slow and Steady
While it’s safe to say that Ethereum isn’t going anywhere, there are a few reasons why it feels like ETH just isn’t making the gains as other coins. For starters, Ethereum has never been promoted as a store of value like its counterpart, Bitcoin. During ICO season there are massive buy-ins followed by sell-offs, but for the most part, the currency is designed to have functional uses. This means that it probably won’t ever get the same whale action as Bitcoin and low-cost altcoins––not unless it’s adopted by everyday people, at least.
On top of that, low-cost coins are always going to attract bloodthirsty investors. They’re the penny stocks of the crypto era. Some of them are actually great projects, but many are complete garbage (Dogecoin, anyone?) that attract investors for one simple reason: people want an easy way to triple their earnings.
If you’re looking to make a quick $10,000 or $20,000 on a short-term investment, ETH just isn’t that type of coin for the casual trader. But that doesn’t mean that ETH is on its way out, and it’s nowhere near dying under the rainbow. It’s always been a currency for long-term investors, and it’s probably one of the few projects strong enough to last the test of time.
If you want a crapcoin to gamble with, talk to Carlos.