7 Reasons Why Ethereum is no longer an Altcoin?

Is it time to change your perspective? Although this discussion is not the first, the latest arguments and data suggest that ether is on the rise. Here are 7 reasons why Ethereum is no longer an altcoin.

Firstly, you should know about Ethereum: WHAT IS ETHEREUM?

Ethereum is most similar to Bitcoin

A new study from the San Francisco Open Exchange (SFOX) suggests that “it may no longer be accurate to classify ether as ‘altcoin'” as its correlation with bitcoin is significantly higher than that of bitcoin. bitcoin with other coins. In the last month, according to the study’s author, the correlation of ether with bitcoin was 0.788, while Bitcoin Cash hit 0.638, Litecoin was at 0.577, Bitcoin SV was at 0.619, and Ethereum Classic only managed 0.602. The team concludes that Ethereum is slowly becoming “a blockchain that is widely recognized as an asset on its terms, just like Bitcoin.”

Ethereum is the biggest blockchain platform in the world

Although bitcoin is the original cryptocurrency, Ethereum is the largest blockchain by volume. According to a study by dapp.com, there are more than 1,600 dapps on the platform. Meanwhile, Tron has more active users but Ethererum has twice as many active dapps.

Ethereum is second only to Bitcoin in terms of market capitalization (from of July 2019)

Ethereum has the largest community

According to a report by crypto asset management firm Electric Capital, there are twice as many developers working on Ethereum per month as there are in bitcoin. It says about 216 developers work on the platform every month. Crypto news site The Block shows that between 250,000 and 350,000 developers are building on the platform.

Ethereum is the second most talked about coin after Bitcoin

With such a large community and developer base, it is not surprising that ether is also the second most talked about the coin. A study by the Pacific Northwest National Laboratory analyzed crypto-based discussions on Reddit and found that only bitcoin was discussed more. (Monero came in third.)

Ethereum is the most decentralized blockchain platform in existence

Analytics tool Ethernodes reports just under 17,000 nodes running the blockchain on six continents. Bitcoin is lowest at over 66,000, but many of these are concentrated in data centers