Ethereum co-creator Steven Nerayoff says the cryptocurrency’s value could triple in 2018.
Ethereum co-creator Steven Nerayoff said businesses in a wide variety of industries are starting to take note of what value ethereum’s protocol could offer them. Nerayoff attributes increased usage to ethereum’s ability to process transactions more quickly and cheaply than its rival. Nerayoff said increasing interest in cryptocurrency will stimulate value for ethereum in 2018, regardless of whether it overtakes bitcoin.
Ethereum co-creator Steven Nerayoff says increased projects built on the cryptocurrency could trigger a “flippening” in 2018, in which ethereum overtakes bitcoin. “What you’re seeing with ethereum is exponential increase in the number of projects — there are billions of dollars being poured into the ecosystem right now — maybe 10 times more projects this year than last year, which could easily lead to a doubling, probably a tripling in price by the end of the year,” Nerayoff said Monday on CNBC’s “Fast Money.” While bitcoin was designed to function as a peer to peer electronic payment system, ethereum was designed for smart contracts that execute when specific conditions are met. Nerayoff, who helped craft token sales for the ethereum project, said businesses in an increasingly wide variety of industries are starting to take note of what value Ethereum’s protocol could offer them.
“You’re seeing a tremendous amount of growth across a wide variety of industries. Fintech is actually the natural area, but now you’re seeing it becoming increasingly more creative — you find projects in the oil and gas industry, you’re finding government using it in their applications, you’re seeing it in gaming, all kinds of different areas,” Nerayoff said.
Beyond project building, Nerayoff said usage is increasing because ethereum can process transactions more quickly and cheaply than its rival. “People are actually using it for currency, as well,” he said. “Lower transactional costs are increasing usage of the entire network, and that’s increasing the network effects of it. There are more users, more projects being built on there and more programmers,” he said. Despite his confidence, Nerayoff isn’t discounting bitcoin and the interest in cryptocurrency it inspired in 2017. “The entire space is increasing. There is huge interest by the public and there are more areas in which the public can invest, even in bitcoin, so you could just see an expansion in the entire space,” he said.
Either way, when it comes to 2018, Nerayoff thinks ethereum is going to have a good year. On the Luxembourg-based Bitstamp exchange, bitcoin closed down 8.73 percent at $14,766.86, with a market cap of $248 billion. Ethereum had an estimated $110 billion market cap at close.
Ethereum price prediction: 2018, 2019, 2020
Ethereum is fast emerging as a major cryptocurrency. In the last few days, it has scaled new heights quite consistently. Also, in the calendar year 2017, it is risen by about 3600%. This is one of the main reasons why most of the investors are also looking at Ethereum as a long-term investment bet.
This brings us to the important question what can be the Ethereum price in the future. You need to understand that you have to look into the usability as well as the application of the cryptocurrency. When you are able to look at the usability and application of cryptocurrency, thereafter only it would become easier for you to understand how its value can appreciate. When you’re looking at Ethereum, you would realize that it is underlying capability that is it provides decentralized processing power as well as bandwidth. Owing to this very reason, Ethereum is much different as compared to the other tokens which are just a token for investment. This also means that the value of Ethereum would increase in the future.
In the current year that is 2018, it is predicted that Ethereum would reach around $ 2500. By the end of next year that is 2019, it is expected that Ethereum would be somewhere around $ 14,000. Similarly, by the end of the year 2020, it is assumed that Ethereum would be around $ 31,000.
Thus, when you look at the kind of returns which are expected from Ethereum, you would realize that it has a long way to go still.
Reasons why Ethereum can appreciate by a significant amount:
* Increasing application uses.
* More companies adopting decentralized cloud-based applications.
* Increased usage of smart contracts.
These are the 3 reasons why Ethereum is being more widely used. You need to keep in mind that when it comes to Ethereum, the more the platform is used, the higher would be the price of the token. Owing to this very reason, you can be sure that the value of Ethereum would increase in the future as well.
Also, it is expected to become the 2nd most valuable cryptocurrency according to the market cap. This is one of the main reasons why it would consistently appreciate as well over the years.
So, whenever you’re looking to invest in any cryptocurrency, it is a much better idea to look at the option of Ethereum. When you look at the option of Ethereum, you would realize that not only it has a strong application but also significant potential for appreciation.
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