From Ethereum to Eternity
2 min readApr 23, 2018
This is how I perceive Ethereum:
- End of 2016 (“Reference Point”) market capitalization of USD 700m.
- April 23 2018 market capitalization USD 63.4 billion (90x from RP) (coinmarketcap.com)
- Active addresses of around 530,000 vs 27,000 (20x from RP) (bitinfocharts.com)
- Coins sent value USD 26m to USD 1.2 billion (47x from RP) (bitinfocharts.com)
- Price in Bitcoin terms from 0.0084 to 0.0720 (8x from RP) (coinmarketcap.com)
- Single handed stellar ICO platform in 2017.
- Well talked about technical issues from scaling to Solidity.
- Most importantly fresh and strong challenges by EOS, Cardano, Neo and Tezos among other in their own way to have a greater share of the Web-3 or global supercomputer or the smart new backbone of blockchain(s).
So if price has got ahead of network activity, asset has outperformed Bitcoin by 8x (which itself was up by 10x, making Ethereum up 80x in absolute market cap terms), current market cap is not negligible, there are technological challenges and there are contenders — would it not be a bigger probability to see it underperform?
Obviously not — it has reversed a ETH/BTC slide and increased nearly 35% in BTC terms over the last three weeks and is above its 2017 average vs BTC. Let us watch if the ETH/BTC spike is a testament to a upside frenzy episode or a harbinger of another down round underpinned by an altcoin sell-off? Even if neither, I’ll watch the relative performance and report on it occasionaly.
