Ethereum, the number 2 cryptocurrency asset with a nearly $30 billion market cap (second to Bitcoin's $120 billion), has mostly been remaining in the shadows lately. With Bitcoin rising steadily to all-time highs over the past few weeks, it's no wonder that Ethereum hasn't been noticed.
Over the last two months, Ethereum has been relatively stable, hovering around the $290 to $300 mark (despite a dip to $260 and a rise to $340). This price stability is relatively unheard of in the cryptosphere, but as cryptocurrency assets mature I think we still start seeing this more as they reach a stable value.
Ethereum, however, deserves to have its value sitting at much higher than it is right now. Based on what? you may ask. Well, let's take a look at some stasticics.
Ethereum Statistics
Out of the top 100 cryptocurrency assets, Ethereum and tokens based on it make up 39% (39/100).
Out of all tokens, Ethereum-based tokens make up 71%.
Out of all cryptocurrency assets (including all tokens and coins with their own blockchains), Ethereum and its tokens make up over 20%.
Out of all the upcoming ICOs this year, more than 95% of them will be having their own ERC20/Ethereum token, whether it will be temporary or permanent (with the majority being permanent).
This means that Ethereum is being mass adopted and serves as the de-facto king of the cryptocurrency token and smart contracts sphere.
Based on all of this data and my experience in crypto markets, I believe Ethereum is vastly undervalued and due for a rise, maybe even a moon to at least the $500 mark within the last quarter of this year, with $1,000 easily within reach next year.
Happy investing!