“ Before We Begin none of this is financial advice. This writing is for information, and perspective only. Do your own research before investing.”
Cryptocurrencies have been picking up mad steam over the last few months, and you may ask yourself why is crypto hot? This spike in value is happening for a multitude of reasons which we will look into today. The bottom line is prices of these value holders are exploding because of inflation, hype, and true value coming to light, so let’s dive into what is going on here.
Crypto has been erupting with activity, and intrigue over the past months with BTC rising over 108% alone in 2021. ETH, and other cryptos such as DOGE have shown even more impressive returns, for reasons vastly different than each other. DOGE has been the most popular coin this year with an annual return to date of over 5000% showing that crypto is getting more and more popular. DOGE has grown to be the talk of the town in the crypto world, and most people don’t even realize it’s the shitcoin that made it. The DOGE coin was made as a joke and in my opinion popularity is not actual value. So what has ETH done to bring promotion to projects?
ETH has begun to see Institutional adoption similar to BTC. Cabbies in London accept payments on the network now. As time goes on more Institutions are adopting ETH and, BTC as an investment option for pension funds and IRAs. More companies are jumping on board, and there is strong support coming from the risk management sector for ETH 2.0. ETH has value, real world value in smart contracts, and with proof of stake coming soon, the network fees will fall substantially. Ethereum has proven itself as the foundation for the future of finance . The 2.0 model of this software has shown that neutral governance can exist with ease utilizing the rough governance and web 3.0 focus of ETH.
No Matter how you cut this, the bottom line is that the crypto market is very hot right now. Actual value does exist in this market. We will probably see the market caps explode over the next year across the board. Crypto has become mainstream, and may seem reminiscent of the .COM era , but projects such as ETH, BTC and more will be around for the long term. There are so many exciting things going on in the DeFi sphere from NFTs to ICOs. The innovation is flying past us at speeds never before seen. It is going to be exciting to see where this all goes. Please give us some feedback and subscribe!
Written by Caleb Hogan from ofthefreemarket.com on May 5, 2021
