ETH Development is Soaring, Will Price Soon Follow?
Recent data from Santiment shows that development on Ethereum has been soaring over the past few months, at a time when the price action remains relatively sluggish.
In this video, we'll be discussing whether an increase in ETH development could lead to an increase in price in the short-medium term.
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▶️ 3Speak
All this development does sound very encouraging and hopefully the price will follow. Thanks mike
Fingers crossed Mike!
Not until BTC makes a new ATH .. we need similar conditions to the last massive bullrun we had in 2017.. Either that or they finally implement staking ..
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It's frustrating to think that every alt is tied to Bitcoin performance, regardless of fundamentals. But you're probably right
It's always a good thing seeing development work happening in a crypto currency. The more, then it strongly suggests that the crypto has great potential for the future, more ADOPTION and will survive. Very encouraging that Ethereum has seen a parabolic rise, suggests that developers are willing to spend time and money on it.
As you say, at some point the bridge between the development and price will be closed. But far higher prices might depend on bullish sentiment in the whole crypto market.
Developing more Ethereum IT projects mean adding more value to the market, and the most important rule of money is "Value = Money". So I assume that this rise in Ethereum development will eventually make the price rise, but I think that it will take some good time until we see such soaring in the price.
Fundamentals of a blockchain network comes from developers improving the network and also the developer ecosystem which Ethereum truly has the advantage of it. Not to mention tooling as well.
In the long term, the value should be derived from development activity, with the potential of making it easier for new developers to come on board, build dapps, and expand on new ideas.
I think first we have to wait till BTC increase, but very well researched!