A new Exchange Market is Born Out of Thin Air (Goerli ETH)
Hello. A new market has come to light although it seems impossible to believe in the Ethereum ecosystem. gETH, the utility token of Goerli ETH which is the main Ethereum testnet, it can be seen that a real-time market has been created, a liquid market where you can trade.
Well. This sounds a bit strange since the gETH token was created with the intention of being a proof token and not having any monetary value. the founders of said network publicly stated that this token does not have any pecuniary value in the real world.
Since this token was made in order to help developers to test their decentralized applications and protocols, it is as if they were playing with play money. These are done so that you can test the application by being released to the ethereum mainnet. It was evident that this token lacked any economic value since the developers save on the tests and experiments carried out on the network, and minimize the risks before going public.
In my opinion, two things have caused the shift in the attribution of economic value from null to an existing value in gETH: one of them is that the token is restricted and a maximum of 0.2 gETH can only be requested every 24 hours, which means that the high demand for gETH increases, which means that developers have to wait a long time to test it on the network. Which means that gETH already owns at least two properties that led to its future acquisition and gives it a market value since its supply is limited and its utility is in high demand. of market value.
We again ask ourselves a question like a non-existent worthless coin has become existing, all this is due to the fact that many users have chosen to hoard the tokens, which has caused a demand from developers for the use of tokens in the test network since hoarding preventing Ethereum developers access to tokens to test and test their apps.
Conclusion |
|---|
This type of event continues to bring fantastic resonances. It's like a child doesn't want to share his candy with anyone but eager adults want to own those candies so they can continue their work so a simple candy with a very low value is now in high demand and its value skyrockets. Today everything is possible and seeing things like this no longer surprises us.