Despite the ongoing reduction in prices, the Ethereum network remains crucial for the upcoming start-ups.
While some view Ethereum (ETH) as a valid Bitcoin competitor, others deny the possibility of Ethereum ever taking the lead. A lot of experts, however, see particular value in ETH, which makes the current price dip a bit surprising.
John McAfee was one of the commentators pointing out the strange situation. He tweeted:
“Here’s what I find funny: Ethereum is trashed more than any currency, and yet no currency is more necessary and central due to its smart contract platform that is used by more than 50% of all new altcoins.”
Despite the current unfortunate market position, some experts are still bullish about Ethereum and even talk about “flippening”. Of course, they have their reasons. Ethereum co-creator Steven Neyaroff cited “multiple projects and computation demand” as main drivers for ETH future increase in price by as much as 300 percent.
As of now, increased Ethereum Network usage failed to influence the ETH prices, but it might be just a matter of time. The extreme growth we witnessed last year was very sudden and it could happen again.