is the number 1 altcoin that Ethereum traders have in their portfolios, almost approaching the $ 3000 level.
Ethereum has made its mark on the market as the altcoin of hodlers with high short-term and long-term returns. While rising to $ 3000, ETH offered yellow to buy opportunities with many dips along the way as well as profit take opportunities. ETH has soared along with Bitcoin and altcoins this altcoin season. However, there are analisdollars who are unsure of the future of ETH.
Where Does Ethereum Go?
The price of ETH, the digital asset used to pay for the use of the Ethereum Virtual Machine (a global network of computers capable of processing decentralized data functions), has increased by 907% since the beginning of 2020, and the price has increased since the altcoin launched in 2015. Increased by 85,587%.
These figures are based on data from the Two Prime Digital Assets report. The fact that ETH is institutionalized at this rate may indicate that the institutional market of ETH is saturated. Additionally, core issues like ETH are immutable and can be censored. It supports rollbacks, and the ability to change rules when developers decide and vote makes this unpredictable in the long run.
As far as metrics are concerned, the number of addresses holding 0.1 Ethereum recently broke an all-time record with 4.7 Million.
However, it can be said that the increase in the number of non-zero addresses does not indicate the growth of ETH, but also indicates popularity. A greater number of non-zero addresses could point to the rise of traders and demand and the lack of whale backlog or large transactions in the ETH network.
If we consider the return on investment in the last two months, the price has almost doubled from $ 1400 to $ 2800. This increase carries ETH to the category of short term profitable altcoins rather than long term. Because withdrawal is expected. There may be price corrections in the short term. However, there is a recovery.
According to the table above, the return on investment of ETH is almost the same for a 90-day period and a one-year period. It corresponds to a percentage of about 115%. So what does this mean for investors?
It does not gain value in ROI for long term HODLers. However, for traders holding Ethereum in the short and medium term, less than 100 days means significant profits.
These statistics make analisdollar a number of doubts. Because when compared to the most important assets like Bitcoin, analisdollars cannot put forward a clear case regarding the long-term return on investment potential of ETH.