news-details
Gambling News

Most people who have only heard of cryptocurrencies in passing would have also heard of Bitcoin and its price records, which is the largest cryptocurrency token by far. However, there are a few other crypto tokens that are worthwhile investments and have a lot of potential, and Ether`s history shows that it is probably the best of them. Ether, which is the cryptocurrency token for the Ethereum platform, recently went past the $3,000 mark for the first time, and despite being the second-largest cryptocurrency token in the world by market capitalization for quite some time, it is only now that it is getting mainstream attention, with a lot of investors finally realizing its potential.

The price of ETH crossed $3,000 on multiple crypto exchanges, and this means that Ether is now more valuable than the likes of Bank of America and The Walt Disney Company in terms of market capitalization. This move capped a week where the price of ETH grew by nearly 25%, to continue a trend that has been in place since a few months now, and there are many who believe that ETH could eventually overtake Bitcoin and become the largest crypto token in the world, due to the potential of Ethereum smart contracts. Some of the reasons for Ethereum’s rise include a huge increase in the use of the blockchain by institutional investors, as well as a lot of interest from the retail side in decentralized finance. The European Investment Bank recently announced that it would be issuing a two-year digital bond worth $121 million in partnership with the likes of Goldman Sachs, with this bond using the Ether network, and this is just one example of big institutional entities beginning to use the Ethereum platform.

Additionally, it looks like there is still a lot of upside for Ether, since there are multiple upcoming events, such as the ‘hard fork’ that will overhaul Ethereum’s fee structure, as well as the transition of Ethereum 2.0 to a proof-of-stake model for mining, which has not yet been priced in, and could therefore lead to even higher spikes and peaks being reached in terms of the price of the token. It is also interesting to remember that Ethereum was originally created to try and address some of Bitcoin’s shortcomings. Ethereum is much faster, with the average processing time for a block being just 12 seconds, as compared to 10 minutes for Bitcoin, while it is also more sustainable, as it offers miners a transaction fee rather than block rewards. Additionally, there is a lot more supply of Ethereum left to be mined than there is of Bitcoin, and this should eventually lead to miners switching attention to Ether, which should increase its price even further. Ethereum also has many more applications across sectors due to the blockchain and the presence of smart contracts, and the example of the online gambling industry, where multiple operators are now using the Ethereum blockchain to support their operations, shows how it is much more practical than Blockchain, which is only valuable as a financial asset, rather than being able to help solve operational issues.

The Ethereum blockchain is being used all over the world in various sectors, and this is only increasing the interest in Ether, and therefore its price. The first Ethereum ETF also began trading recently in Canada, which offers investors exposure to Ether’s price movements without actually having to buy the token. These ETFs have collectively already seen more than $138 million in trading volume in just a week, while the upcoming ‘fork’ will also help reduce mining fees, which are at record highs at the moment, while also helping reduce supply, which will only serve to increase the price even more.

However, everything is not rosy for Ethereum – the high transaction fees on the blockchain have meant that other smart contract-enabled blockchains have been gaining popularity as a result. The absence of a viable layer-two scaling solution, combined with these high fees, has given competitors such as Venus, Linear Finance and PancakeSwap a lot of momentum. It is hoped that the ‘London fork’ will help mitigate some of these issues, and in general, the overall trajectory for Ethereum looks like going in only one direction – upwards.

The future of gambling is 6G and it could be here sooner than we think

Crypto and blockchain are becoming more eco-friendly