Recently, there has been a speculation that after this time, Ethereum will drop off the top position as well as being the market’s most dominating asset after Bitcoin (BTC). Also, there has been so much talk that, as other cryptocurrencies are growing quickly, Ethereum will face a tough time and be removed from top spot.
The instability in Ethereum’s price in the past few months has led to the speculation of Ethereum going down in the future. Ethereum as a second-generation cryptocurrency has faced some drawbacks which are strengthened by 3rd-generation cryptocurrencies such as TRON, Cardano, and IOTA, XRP, etc.
Ethereum (ETH) Price Today – BTC / USD.
Justin Sun (TRON network’s CEO) has been talking about the superiority of TRX over the Ethereum technology. ETH, at the start of 2017, reached its all-time best of $1389 USD and has been dropping ever since. At present, its price is valued at $205 USD.
ETH as a second-generation cryptocurrency has some vulnerabilities. Charles Hoskinson (CEO of Cardano) has said that, the issues faced by Ethereum is that it is a victim of its own success. Despite being amazing in several aspects, scalability has been its major problem.
Its transaction speed has not attained the mark due to which traders have disadvantage. The worst of this is that the Ethereum code lacks documentation. Most of its online content are outdated, and the basics are not even covered.
All these has affected Ethereum negatively and this is the major cause of its problems so far. They are finding it very difficult to cope up with their failures to meet the standard required of them. As a result of this, the Ethereum price has been unstable and has dropped from $1000 USD to $200 USD. This large drop in its price is something to worry about especially for Ethereum’s future.
In the past few weeks, crypto users have noticed XRP taking ETH spot, but presently, ETH has managed to cope up with it.
What does 2019 hold for Ethereum?
Currently, Ethereum is ranked second. Although, crypto economists have heavily criticized Vitalik Buterin (Ethereum Founder), the progress continues. Recently, it was announced that the Dukascopy Bank (one of the largest exchanges in Europe) will allow Ethereum for trading.
The announcement reads: “Continuing infrastructural preparation for its own ICO for cryptocurrencies on Ethereum blockchain, Dukascopy Bank starts trading operations on Ether to US dollar (ETH/USD) CFD.”
A Constantinople hard fork was to be launched in October or November, but it has been postponed to the start of 2019, by the development team. This delay came when the developers recognized several bugs in the code released on a test network. The Constantinople hard fork is a system-wide ETH update designed to enhance the mechanism and efficiency of Ethereum, thereby giving it a stronger resistance to ASIC miners.