It’s easy to forgive holders of ETH for walking around with huge smiles on their faces. The cryptocurrency is on fire over the last 30 days, with a return of 119.09%!
That’s enough to make fund managers sleep at night and to have all holders dreaming of fast cars and long, relaxing beach vacations.
What are some of the factors making this alt skyrocket? For one, it’s a well-maintained crypto with active development and a robust investment community. Next, the project spurs economic development in its ecosystem, which further adds to demand.
Not only that, but ETH is gaining share in the minds of mainstream consumers. And don’t forget that many of these people feel like they missed out on the Bitcoin boom and are looking to altcoins to find a rising start to hitch their wagons.
Ethereum Is Stable and Growing
Ethereum has plenty of trading volume because its transaction fees are quite low versus Bitcoin’s these days. It’s easy to assume that more and more traders use ETH to transfer funds between exchanges because it costs less. Plus, the transactions are speedy, with confirmations arriving in 53 seconds, according to this report.
With cryptocurrency becoming such a big part of the lives of millions of people, reliable transactions and relatively inexpensive fees are attractive. With the price around $1,000, ETH has also achieved a level of stability and prominence that makes it a market leader.
Ripple and Ethereum Are Gaining Market Share
Bitcoin is still the overall market cap winner in crypto, but Ripple and Ethereum are both making progress to supplant them. 2018 is shaping up to be a battle royale. Naturally, there are many other competitors on the hunt for the crown of crypto. But the three top leaders are showing a resilience to news and market manipulation as the number of transactions on their networks rises.
The thing about 30-day doubling is that it becomes addictive. Undoubtedly, ETH holders are hoping for more of the same in the next 30.