WhosCoins – November 23rd, 2020
- ETH 2020 to 2023
- Ethereum jumps almost 6% to $577.50, could this be the beginning of a bull market for Ethereum?
- Open our Store for Annual and Monthly Statements.
- Understanding Bonds.
- WhosGuys NFTs w/ OpenSea & Rariable ( WhosGuys )
WhosCoins, coin dates Update!
Hour Trading Vol
24h Low / 24h High
- $517.53 / $577.31
- 113,539,311 / ∞
WhosGuys Nov 23rd, 2020 – “ETH is projected to hit $2500… What do you think?”
Oct 2021 – ETH Surpasses $4000
Oct 2023 – ETH Around $1500
Looking Back @ ETH 2020
In 2020, Ethereum (ETH) went through several significant developments and events. Here are some of the notable occurrences related to Ethereum during that year:
Ethereum 2.0 (Eth2) Phase 0: The most significant development was the launch of Ethereum 2.0 Phase 0 in December 2020. Ethereum 2.0 is an upgrade to the existing Ethereum network, designed to improve scalability and security. Phase 0 introduced the Beacon Chain, a new PoS (Proof of Stake) blockchain that runs in parallel with the existing Ethereum network.
DeFi (Decentralized Finance) Explosion: 2020 saw a massive surge in DeFi projects built on the Ethereum blockchain. DeFi applications allow users to borrow, lend, trade, and earn interest on their cryptocurrencies without relying on traditional financial institutions.
Yield Farming and Liquidity Mining: Yield farming and liquidity mining became popular in the DeFi space. These practices involve providing liquidity to decentralized exchanges in exchange for rewards in the form of tokens, often resulting in high returns for early participants.
Ethereum Gas Fees: Ethereum faced challenges with high gas fees in 2020, making transactions and smart contract interactions costly during periods of high demand. This issue highlighted the need for improved scalability, a problem Ethereum 2.0 aims to address.
Ethereum’s Price Performance: The price of Ethereum experienced significant fluctuations in 2020. It started the year at around $130 and reached over $700 by the end of the year. These price movements were influenced by various factors, including the DeFi boom and increased interest in cryptocurrencies.
Increased Institutional Interest: Ethereum, like Bitcoin, garnered increased attention from institutional investors and large corporations in 2020. This growing institutional interest contributed to the price appreciation.
ETH 2.0 Staking: With the launch of Ethereum 2.0 Phase 0, users were able to stake their ETH to support the new PoS network. Staking ETH allowed users to earn rewards in the form of newly created ETH, contributing to the security and operation of the network.
Regulatory Developments: Ethereum continued to be the subject of regulatory discussions in various countries, with some authorities classifying it as a security in certain contexts.
Overall, 2020 was a year of significant progress and challenges for Ethereum, with the transition to Ethereum 2.0 being a major milestone in its ongoing development. DeFi and institutional interest also played pivotal roles in the Ethereum ecosystem’s growth and evolution during that year.
Ethereum (ETH) has dropped in price recently, you may want to consider the following common reasons for price fluctuations in the cryptocurrency market:
Market Sentiment: Cryptocurrency prices are often influenced by market sentiment, including factors such as investor confidence, news, and social media trends. Negative news or events can lead to a decrease in prices.
Regulatory Changes: Announcements of new regulations or government actions related to cryptocurrencies can impact market prices. Uncertainty or unfavorable regulations can lead to price drops.
Market Trends: Cryptocurrencies are influenced by larger market trends. If the broader cryptocurrency market is experiencing a downturn, it can affect the price of Ethereum and other digital assets.
Liquidity and Trading Volume: Low trading volumes or liquidity in the market can lead to more significant price swings. Larger trades can have a disproportionate impact on prices.
Profit-Taking: Traders and investors may decide to take profits after a period of price appreciation, which can lead to selling pressure and price drops.
Technical Factors: Technical indicators and chart patterns can also influence price movements. Traders often use these factors to make buy or sell decisions.
Macro-Economic Factors: Economic events and global financial conditions can indirectly impact cryptocurrency prices. For example, economic crises or changes in monetary policy may influence investors’ decisions.
Competition: The cryptocurrency market is highly competitive, and the introduction of new projects or technologies can affect the perceived value and utility of existing cryptocurrencies like Ethereum.
Whale Activity: Large holders of cryptocurrency, often referred to as “whales,” can influence prices with significant buy or sell orders.
NOTICE OF RISK
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