Ethereum (ETH) is evolving into the most attractive asset of the whole range of crypto behemoths. Which drivers contribute to its success the most?
Ethereum (ETH) is going to become a deflationary asset: What is EIP-1559?
It has been noted that Ethereum (ETH) suffers from an ongoing bloody correction less than Bitcoin (BTC) and the rest of the large-cap altcoins. Its resilience pushed Bitcoin (BTC) dominance below 50 percent for the first time since Q2, 2018 - below 33-month lows.
Ethereum (ETH), with its well-known smart contract functionality, has evolved into the backbone of the entire segment of decentralized financial applications (DeFis). Ethereum (ETH) is a hosting platform for top popular DeFi protocols such as Uniswap (UNI), Compound Finance (COMP) and MakerDAO (MKR).
Bitcoiners usually claim that BTC is the best hedge against inflation due to its ever-increasing scarcity pre-determined by Bitcoin (BTC) mining algorithms. Meanwhile, in July 2021, Ethereum (ETH) will receive an even more impressive scarcity catalyst: an Ethereum Improvement Proposal 1559 (EIP-1559).
This EIP will be included in the London hardfork to implement a dynamic fee structure and periodic burnings of fees collected by miners. Thus, the Ethereum (ETH) supply will be reduced for the first time in its history. In 2021, Ethereum (ETH) begins its road to unwitnessed scarcity which will likely be reflected in its price dynamics. Also, the dynamic fees concept will protect the Ethereum (ETH) network from periodic congestion.
Selling pressure on Ethereum (ETH) declines steadily
Long-term holders are confident in the solid prospects of the second cryptocurrency. According to on-chain data tracked by Santiment, the amount of Ethers being stored in exchange wallets has been rapidly decreasing and recently hit a one-year low.
Thus, holders are accumulating ETH and aggressively showing zero interest in selling it. This has reduced the level of potential “selling pressure” on Ethereum (ETH). Meanwhile, other top cryptocurrencies are undergoing the opposite processes.
In a nutshell, this means that some liquidity is migrating from other top cryptos (Bitcoin, XRP and so on) to Ethereum (ETH).
How to benefit from the Ethereum (ETH) season?
Thus, given the splendid fundamentals of Ethereum (ETH) in the mid-term range, this may be the perfect moment to try new instruments that allow it to benefit from the Ether price rally.
Futures trading should be referred to as one of the most popular, yet aggressive, tools to grow traders’ wealth. He/she can benefit from both price spikes and drops as speculation is available in both directions.
To start futures trading in a secure and advanced manner, the user needs to choose a reliable and recognized brokerage platform. Established in 2017, Bexplus is a leading crypto derivatives platform accredited as MSB (Money Services Business). It offers lucrative leverage rates of up to 100x on its entire range of assets. Futures with high leverage are available for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Eos (EOS), XRP and more.
Bexplus is a KYC-agnostic platform: new traders should only sign up with their verified email addresses. The paper trading mode offers a demo account with 10 Bitcoins (BTC) to get familiar with the basics of leverage trading.
Bexplus offers new clients a 100 percent bonus on every deposit and 10 percent transaction fee discount. For smartphone users, the applications are released in the AppStore and Google Play marketplaces.
Bexplus offers a high level of 24/7 customer support on its website and on Telegram. To promote the new offers amidst an eye-watering Ethereum (ETH) rally, the Bexplus team introduced a 100 percent deposit bonus on all Ethereum (ETH) trades.