For the month ethereum has managed to gain up to 46%, while its key counterpart, bitcoin has gone down by 25%.
Ethereum appeared to be one of the first alternatives for bitcoin. Vitalik Buterin, a 19-year old Russian programmer, designed this crypto asset to be more more decentralized, more liquid and perhaps more like the World Wide Web itself.
Evidently, ethereum’s programming language suggests the use of so-called “smart contracts” – they come in handy for any business activity. That’s why such high tech monsters as Intel, JPMorgan Chase & Co and Microsoft helped to create the Enterprise Ethereum Alliance in 2017, thus giving this digital asset Wall Street credibility.
It means that market participants are starting to believe that this particular crypto asset has a long-term promising future, while its rival bitcoin might not, thus enabling ethereum to withstand the China-induced regulatory storm, which has heavily affected bitcoin.
However, traders need to realize the whole difference between ethereum, the cryptocurrency, and also Ethereum, which stands for the language.