Ethereum Trades Above $320 – Can ETH return To Its All-Time High?
At the moment of writing this article, Ethereum is trading in the green, and the coin is up by about 7% in the past 24 hours.
Currently, ETH is trading at $323.24.
Ethereum’s Vitalik Buterin said that Ethereum 2.0 would definitely be launched this year.
He said that he does not believe that the rollout of Ethereum 2.0’s initial stage that’s called phase 0 should be delayed.
Can ETH reach all-time high?
It’s been just revealed that one of the most well-known Bitcoin whales that exist said that he’s doubting ETH will ever return to $1,450 – the highest high.
The online publication the Daily Hodl brings up Joe007 – the anonymous trader is really popular for placing large bets on Bitfinex. He recently explained the reasons for which he believes that people will lose interest in ETH.
He said that in the long run, firms such as Ethereum would seek alternative platforms that have lower transaction fees.
“Neither has any need or use for ETH other than for fees. As fees get too high, so does the incentive to ditch Ethereum for something else.”
He also said that ETH and BCH would never return to the all-time high because traders will shift their attention to newer altcoins.
He’s also been a critic of DeFi, calling it a marketing campaign.
The reasons are many, how about this one. DeFi projects are are more risky than Ponzi schemes. In addition to expected exit-scam by project founders they can be unexpectedly hacked by external players. https://t.co/L6lj6v4DVJ
— All "Joe007" signals·subscriptions·funds are scams (@J0E007) July 19, 2020
On the other hand, he’s been bullish on Bitcoin.
“Bitcoin is so much more than just a currency. It’s a completely new social technology: non-political non-confiscatable self-sovereign extra-hard money. I expect it to precipitate transition of humanity to a completely new economic and social order that will slowly emerge over time.”
There are all kinds of optimistic predictions about the price of ETH these days and the project has all the fundamentals to go straight to the moon.
Vitaly Dmitriyevich "Vitalik" Buterin is the co-founder of Ethereum, the world's most popular smart contract platform that enables developers to build decentralized applications (at the time of wirting this, ETH has a market cap pf $2B). Prior to his development of Ethereum, Buterin was the co-founder of Bitcoin Magazine.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.