When we talk about Ethereum, it is just not another cryptocurrency like Bitcoin. It is way more complex than digital currency.
Technical Analysis
Ethereum is still running strong. I will expect it go around $1,200.
The reason I do not think Ethereum will continue going up because its gas fees is still very high. Such fees are paid to process your Ether payment.
You can track here or calculate your own here.
You can see gas fee spike around 2017 due to inefficiency of Ethereum blockchain which more transaction create more energy waste. However, it has been improved due to other techniques invented such as Layer 2 or internal transaction (contract).
A I mentioned in my previous article about transaction, there are blockchain and internal transaction (contract).
So how you are going to use your internal transaction (contract) amount?
First, you need to familiar with how to write Ethereum contract (coding).
I will not explain details here since there will take a while to read (more like hours to read).
Here are resources if you want to discover more about how to write Ethereum contract:
I want to share a big picture with you about how to spend internal transaction (contract).
When you receive amount through internal transaction method, you are receiving a blank contract without a digital signature. Similar to stock call options which companies can pay you option without exercise your amount until the stock price raise more than the option amount.
For Ethereum, when you exercise, you sign your contract on your digital currency through a digital signature!
Part of benefit of receiving through internal transaction is that you can sign your currency or exercise whenever you want to.
Second, majority of wallet are non custodial wallet which is only acting portal to access etherscan.
Therefore, it will be a bit difficult to spend your internal transaction amount unless your wallet service can help you to develop contract which I doubt them will. But you can request service to add amount to reflect on your truly total amount in your wallet which is feasible for them to do it for you.
Side Note: back in 2017, Ethereum community expects more people using contract signing method to reduce gas fee which is too complicated for regular user and it is too infeasible to go through coding.
It is interesting to me that part of Ethereum community is expecting individual user to be able to write a contract. I guess eventually we all have to code!
That is my sharing for today.
Do you learn anything new?
Disclosure: I/we have no positions in any cryptocurrencies mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose cryptocurrencies are mentioned in this article. These information are only for educational purposes.
