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#Ethereum

Should I sell Ethereum now?

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You must sell ethereum token (ETH) and buy at a cheaper rate maybe when it falls to $30 - $55 range in the next few weeks.

Yes, you must and buy at a cheaper rate maybe when it falls to $30 – $55

 

Introduction

Cryptocurrencies were developed prominently to eradicate the problem of double spending, in which a particular virtual currency would be spent two times at different places. Many other virtual currencies existed before the existence of Bitcoin also but didn’t gain much popularity due to their inefficient technological implications. with the Inception of Bitcoin in the year 2009, many other cryptocurrencies followed the trend, and as a result of which, currently there is 1500 variety of them available in the market. The decentralization of cryptocurrencies is the backbone of the technology which provides with amazing security and none other forms of currency could be compared with.

 

How is Ethereum inefficient?

It seems that the Ethereum market prices have been plummeting in the past few months and many of the cryptocurrency professionals are recommending to sell ethereum the users can buy Ethereum after some time maybe when the prices are even low. A number of specific reasons have been outlined, as to why the native cryptocurrency of the ethereum blockchain is absolutely not important, also the how the gas price is affecting the ethereum prices. Also, the Ethereum network is highly susceptible to fork as well as copy, as the developers can effectively create another cryptocurrency which is competitive with that of Ethereum.

 

Is Proof of Stake mechanism not required?

Due to its high competitiveness and susceptibility of getting copied very easily the high prices of the ethereum token is highly unsustainable in the current market conditions. The Ethereum network recently made a great move and its history as the whole community members along with the architectural blockchain decided to implement the Proof of Stake algorithm and drop the Proof of Work algorithms, as it was proven to be highly inefficient. But even the Proof of Stake consensus algorithm doesn’t seem to be that reliable in the case of the Ethereum blockchain, as it would indirectly cost the investors, in order to be successfully implemented. Therefore it is highly advised to sell Ethereum at the current point in time.

 

Various reasons to sell Ethereum

There are a number of reasons which provoke the users to sell ethereum. It is very well known that the Ethereum network is not scalable enough, to accommodate all of its smart contracts and decentralized applications run on the ERC 20 protocol. The ethereum blockchain even lacks a number of prominent use cases, therefore, we must consider to sell ethereum. Amidst its rising competitors in the market, even the Proof of Stake consensus mechanism is consistently being criticized by the experts in the field, which marks the downfall of ethereum and it is one of the greatest reason to sell ethereum. Therefore, one must consider such allegations in a serious manner on the world’s second most popular cryptocurrency.

 

Statistics supporting to sell Ethereum

According to statistics, it has been estimated that the Ethereum blockchain doesn’t prove to be an effective asset class. Therefore, one might sell Ethereum at the current point of time and may buy them back, after sometime when the prices fall further. The experts even believe that the Ethereum blockchain is still immature and cannot handle its popularity and widespread adoption. These were a number of reasons that outline the inefficiencies of the ethereum blockchain and the vigilance of the investors as well as day traders towards the Ethereum blockchain.

 

Many of the prominent figures in the cryptocurrency industry, like Nick Szabo who is alleged to be the former Bitcoin creator, Satoshi Nakamoto but he has constantly been denying all such allegations on him. According to him, the noble Ethereum network is highly inefficient in nature and is headed towards a great disaster or a bureaucracy.

 

Signing off

We can never understand or predict the future of the cryptocurrency market but with certain calculated predictions and by utilizing the wisdom of crowd as well as the experts, some amount of prediction can resonate with the future market conditions of the ethereum network. According to the current market situations and all the calculations, it leads to only one conclusion that the investors may sell ethereum and buy them, maybe after a few months when the prices are even low up to $30. the ethereum coin is listed on various cryptocurrency exchanges has Binance, Coinbase, Bitfinex, Kraken, KuCoin, etc which can be utilized to sell Ethereum.

 

Note: None of the above is a financial advise and we do not encourage that you take any decision based on the article. The article is only the opinion of the writer and you must do your research before buying or selling any digital asset including ETH.

#Bitcoin

XRP is now #2 Cryptocurrency, Ripple overtook Ethereum

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XRP is now officially the #2 cryptocurrency in the world with over $2.4 Billion Market Cap. The recent increase in the market cap was due to the rapid surge in Ripple Price after the XRapid Launch news was published.

The market cap of Ripple is now $23555443, which just surpassed Ethereum’s market cap of $23367070

Bitcoin Market cap stands at #1 at $116228274

 

Ripple Price Rise

XRP  Price broke all the obstacles and went to a swift uptrend against both Bitcoin and US Dollar. With the surging price, the total market cap of the cryptocurrency also noticed an enormous hype making Ripple the #2 Cryptocurrency after Bitcoin; beating Ethereum on the Cryptocurrency Market Capitalization list. More and more banks are utilizing the Xcurrent platform including the recent adoption by PNC , USA’s top financial services group.

 

Ethereum Price Decay

The former #2 cryptocurrency Ethereum noticed a vast decay in the previous few weeks with the reasons starting from large OTC selling by ICO’s (Initial Coin Offerings) and the ethereum miners backing out saying that ‘Ethereum Mining is no more profitable’. Ethereum price dropped down from whooping $450 in August to $190 a few days back. This has resulted to a huge number of prominent investors and traders opting out of the Etheruem Cryptocurrency stating that Ethereum has no future now.

 

Can Ripple Maintain the #2 position now or will Ethereum take back revenge? What are your thoughts on the same? Tell us in the comments section below.

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#Daily Price Analysis

Ripple XRP to overtake Ethereum ETH on CoinMarketCap

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At $0.4672 on reporting time, Ripple's XRP is about to make it to #2 in position in terms of Market Cap, as reported by Coinmarketcap.com

A whooping 43.96% Increase in Ripple in few hours

At $0.4672 on reporting time, Ripple’s XRP is about to make it to #2 in position in terms of Market Cap, as reported by Coinmarketcap.com

 

Reason can be Saudi Arabia’s National Commercial Bank Joining RippleNet

In spite of the poor economic situations of the previous couple of months, Ripple’s XRP has been performing admirably in the crypto space. This can be credited to its normal joint effort and organizations with various banks and firms.

As of late, Ripple declared that the National Commercial Bank (NCB) of Saudi Arabia has joined RippleNet. Crypto specialists have been envisioning this move by Saudi Arabia’s Commercial Bank and are trusting that this excellent passage of Ripple into the nation will change their financial framework.

Over the previous decade, the Kingdom of Saudia Arabia has been one of the biggest wellsprings of settlements worldwide. As indicated by the World Bank, in 2016 around $308 million was sent into the KSA, while $37 billion in settlements were sent from the nation.

According to the report, RippleNet would fill in as a medium for associating with other money related foundations over the globe to NCB. Right now, RippleNet has a worldwide client base of in excess of 5.4 million. With the assistance of RippleNet, NCB will have the capacity to offer quicker and more straightforward international installment administrations to the majority of its related customers.

This installment portal will be actualized utilizing Ripple’s blockchain technology and will assist the bank with connecting with money related organizations in North America and Asia in the underlying stage, and later spreading worldwide.

 

Ethereum ETH’s poor performance?

ETH has encountered basic adversities in price more than $1100 to $400, which it by then hit the price extent of $167 before recovering to $224.20, at the time of reporting. This might be one explanation behind the abatement in the hashrate as the diggers can’t deal with the expenses of intensity, gear bolster, and other related expenses. Cooling the apparatus has transformed into a huge expense in light of the way that a lot of warmth is made amid the time spent mining, in like manner there is a need to cool the equipment off to avoid the dissolving of sections.

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#Ethereum

Ethereum ETH: Reason for drop: No one wants to mine ETH anymore

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Ethereum [ETH] has seen a gigantic 20% drop in its hashrate. It is said to be one of the greatest drops in ETH hashrate over the previous year.

Ether Hashrate drops from 294 TH/s to 246 TH/s now

Ongoing data from Etherscan.io demonstrates that Ethereum [ETH] has seen a gigantic 20% drop in its hashrate. It is said to be one of the greatest drops in ETH hashrate over the previous year and is said to be on indistinguishable scale from those that have happened since its creation. The hashrate has dropped from 294 TH/s [Terahashes per second] to 246 TH/s.

 

From 300 TH/s to 270 TH/s in August

In August, ETH had as of late seen a drop from 300 TH/s to 270 TH/s. The 30 Terahash drop had panicked the network, raising worries about diminishing security on the stage. It is estimated that the ongoing drop happened because of basic change or in light of the fact that mining ETH was not productive any longer.

 

A 80% +ETh price Decline and still continuing

ETH has experienced critical misfortunes in price more than $1100 to $400, which it at that point hit the price scope of $167 before recouping to $206, at the time of reporting. This may be one reason for the decrease in the hashrate as the miners can’t take care of the costs of power, equipment support, and other related costs. Cooling the gear has turned into a significant cost in light of the fact that a great deal of warmth is created during the time spent mining, accordingly there is a need to chill the hardware off to evade the dissolving of segments.

This development may be demonstrative of a more major issue for miners down the line. By accepting the price to stay steady, a decrease in the issuance of ETH by 33% would result in the decrease of the miner’s fiat income by 33%. There are a couple of productive ASICs which are created so as to mine Ether, however these ASICs exercises are not being appeared in the data as a result of the ricocheting hashpower of some cryptographic forms of money.

It was expressed that Proof-of-Work [POW] mining has been an exceptionally aggressive and vitality concentrated business, prompting a portion of the miners getting ready for an outcome of a decrease in hashpower. This has prompted them being efficient and not requiring any focal coordination or specialist securing the business.

This development marks Ethereum achieving the cost of creation floor, like what Bitcoin looked in 2014-15. The Bitcoin arrange saw a significant fall in its hashrate around then, bringing about various Bitcoin mining task declaring financial insolvency.

 

Will ETH reach $53 soon? Let us know your views in comments below.

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