Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Stellar - American Wrap 18 January

  • Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Stellar - American Wrap 18 January

Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Stellar - American Wrap 18 January

ETH was also the best performing asset past year and had a better YTD return than Bitcoin which many mainstream headlines missed due to the hype around bitcoin. The world's second-largest cryptocurrency is now up more than 20% in the last 7 days, compared to just a 2% jump registered by Bitcoin. Ethereum's total market cap now stands at around $150 billion as the ETH price is hovering near $1,330.

Things in the derivative space would get interesting for the digital asset with the launch of ETH futures on CME next month.

Bitcoin has been trading inside a tight range after establishing a new all-time high at $41,950.

In a separate report, Seeking Alpha's D.H. Taylor, who studied macroeconomics and statistics, also posited that when one looks at Ethereum's network size, number of connections and price trajectory, Metcalfe's Law is being manifested in a way that actually exceeded that of Bitcoin's movement.

Despite this increase in ETH transferred by smart contracts, the media transfer value of ETH remains well below August and September highs. ETH's transaction fee also dropped after a stretch of new ATHs while BTC's regained some, but the daily average of ETH transactions fees still remains about twice as much as BTC.

"Although ethereum is now experiencing high gas fees, Eth2 and the move to proof of stake will create a more scalable infrastructure for DeFi applications".

Kadan Stadelmann, CTO of blockchain solutions provider Komodo, said: "Ethereum has continued to show a lot of positive momentum, especially over the past week or so as DeFi [decentralised finance]-focused projects have rallied". He expects Ethereum to provide even more value for crypto users this year.