Bitcoin Forum

here is an interesting overview by twitter user @sassal0x, published on Nexo dispatch, regarding numbers in Ethereum network in 2017 and 2020, while in both cases ETH price was $500, snapshots are taken on November 29, 2017 and December 16, 2020

https://i.imgur.com/9oQj8zM.jpg

one can see from the list that:
- number of active addresses and transactions almost doubled in between
- total number of addresses is 10x up, 24-hour fees changed more than 10x
- development progress soared with over 2000 active developers and over 4 million downloads from Truffle
- DeFi assets changed perspective from millions to billions, stable-coins on ETH changed from non-existence to billions

and ETH2 is introduced with more than 1 billion USD locked-in

after all, price is the same, something is wrong, $500 was too much in 2017, or it is too little in 2020, it is up to anyone to judge for himself, do not take this as financial advice

Eth's price is really low compared to the current situation. When we look at the statistics, we see this very well. Eth 2.0 has shown a nice rise with the update, but has now stopped rising once the required amount has been collected. Don't take this as investment advice but I am looking forward to a nice uptrend for eth. However, it would be good for everyone to invest according to their own budget and risk analysis.

From looking at this data, we have witnessed a really a great progress in Ethereum blockchain. However, I do think that $500 is to little in current scenario.

Ethereum is heavily undervalued. It is possible that investors buy bitcoin only because its supply is limited to 21 million coins.
Ethereum has an unlimited number of coins and about 5 million coins are minted every year.
Perhaps when inflation on Ethereum decreases, investors will start buying more of this coin.

agree on this, there is no 5 millions each year, but close to that (counted from last December 20, it is about 4,3 million), but each value has to sides, supply, which is unlimited, and demand, that is surging as well
BTC has momentum right now, and that has reasons in institutional investors going in, but ETH still has better YTD growth, so one has to get that ETH is doing well

nevertheless, I would like to point out that I do not think that inflation only matters, demand is important as well, and ETH2.0 and stacking should bring this to the table

That will be a very long time to go. We know that from the chart of the adoption is growing so much. Ethereum 2.0 already expected to decrease the total supply of etherem and there's also a statement from the team if it will be also burning some ethereum from the total supply. Ethereum needs to determine how much total supply to attract the institutional investors to consider ethereum as a part of their portfolios too.
This could make ethereum to be pumped like bitcoin.

I'm not good with this comparison. But if the price during 2017 was low, it's across over several projects and not all money is staying in Ethereum.
But didn't it reached $1400?
In 2020, it still trying to break $700 and it's hard to see it break. But this time, there's now a fixed supply for Ethereum which will make it break the past all time high.

This means the price it has today is really deserved price. So many transcations that even makes Ethereum network itself kinda "slower" and expensive but that means ETH is really practical to the point where so many projects out there using it and not to mention the people who uses it for buying something online.You see within ~yeasrs the amount of transaction a day already doubled that's actually insane.

yeah, this is at least a deserved price, that should grow in the future, from my point of view
it is good to see that Ethereum is growing in number of users and developers, which will bring value eventually


yeah, it reached $1400 in January 2018, but this is comparison with moment when the price was $500, as in December 2020

Thats how active network looks like. One several alts could show statistic like this

Why are you so lazy in writing and giving many explanations for other people? okay, in this case I want to ask you a little question, what is meant by the active network and statistics on Altcoins?

With much accomplishment in everything and better than 2017, the price for this year is too low for Ethereum. This should be even higher. But indeed, the market conditions this year are much different and I think Ethereum can still go high when the altcoin season arrives.

Ethereum has come a long way in this space and this is good for the community, the issue with Ethereum now is that all these Dapps on it are taking away the value that is supposed to accrue away from it. I have a feeling that people are now projecting that some fo these Dapps would outperform ethereum

At first no one thought eth $500 will go in 2017. I also sold some of my hold eth at $300 in 2017. I was lucky not to sell all my eth at that time which later gave me a good profit in the bull market. Because eth didn't just cross $500, it did cross $1000. The bull market of 2017 was one boom, which was unimaginable to crypto traders.

would not agree with you, actually Dapps on Ethereum are increasing the network value, since with Dapps users are coming as well, and more developers and whole thing is going spirally up, which could not be said for some competitors networks where almost 70-80% of tokens are staked, and presumably because you do not have anything smarter to do with those tokens, then to stake it for 7-10% annually, it is similar to savings, and does not support development

on the other hand, ETH coins are put into development, under 1% is not staked in ETH2.0, and if some 70% would be staked (which is kind-a-impossible for functional network), value would surge for sure, but that would be artificial

the increase in performance on the Ethereum network is really very high,
when compared to 2017 it is currently much better, it's just that the community and users regret expensive gas fees,
when compared to 2017, indeed $ 500 in 2020 is still very cheap for the price of Ethereum.

Ethereum is doing good before eth 2.0 launched that is why I expected more huge  and great progress after that. 2017 eth performance that break $500 during november. Many investoes look back how this surge to $500 and repeat itself at this year 2020 with so many great happenings and progress like defi projects.

Iits actually booming and once again eth proves how it can be potentially deserve to be chosen as one of those  high valued with crypto use coins in the market.

I have some ETH in my wallet.
I held,
Since I am a cryptocurrency lover, it is my job to hold cryptocurrency.
I am currently in double profit.
I want to know from the seniors what I should do now.
I will not hold for a few more days or sell.

The last point you made is one of the features that makes blockchain network a unique one. No one can boast of knowing or deciding what the price would be at any certain time no matter the extent of their influences.
I believe what results in price not performing better than we saw in 2017 is the emergence of Tron blockchain network which many projects now adopt in place of Ethereum (ERC-20) network. This can be as a result of high gas fee which has now become the order of the day on the ethereum network.

This a interesting comparison,,but for 4 years?i was not surprised at all,,The even of users will continue to grow as bitcoin is accepted as the official virtual currency.I see in the future that companies and investors will use bitcoin and will continue to increase the value of price

If people are only using Bitcoin, it might happen that Ethereum will lose their market value. I supposed to think that Bitcoin will grow more together with Ethereum but if that only will happen in the future, I'm not sure if people will still hold their ETH but they will convert it into Bitcoin which they think this gonna make them money.

What I can say is that Ethereum is still in the market demand. It can't be that high in the future just like saying $1k but I believe that it is still be the king among altcoins.

If we look at the development of cryptocurrency, especially bitcoin, it can be said that the development is quite good because seen from year to year there are always positive developments,
maybe in the next 10 years bitcoin can be accepted by all countries and if that happens it will certainly be good news for the world of cryptocurrency

yeah, it is actually 3 years, but who counts anyway, it is good that there is a progress, and people will use ETH more and more

with that said, we just overturned 2 million ETH staked on ETH2 Contract address, and there is a linear line going up, with almost 75k staked daily, so we can expect 3 million in 12-13 days, if that continues, you can check it on this link
https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa

what do you actually mean with official currency for Bitcoin, it is not a subject, but it is interesting to see what is your meaning for this?

It's hard to assume that by January 2021, Eth will break $1k+ or even reach $1.4k.
That's not the most possible price that it will get by next month or at least by next week. I'm impressed what ETH is showing.
The price goes $590 and then breaks it again, coming with bitcoin to recover.

These stats definitely signal that eth is massively undervalued and in my opinion 2k is fair value for eth and next peak price for the bull season or new all time high can be from 7k to 8k. Im eagerly waiting eth bulls to take full charge.

What more if that update was totally done, we might see a great price of ETH and go beyond its ATH when altcoin season comes. Well, right now there’s a big red trend in the market and we might not see ETH on its new all time high this year but since the updates is not done yet, we have a better chance to reach the peak next year.

900 percent change in unique addreses but theres almost no difference in active address . how come ? are this something to do with the price rise of eth and also in the fees i guess because people start to become passive now with their eth .

 another that got my attention is the locked in defi , on 2017 there is 50. 50 what ? dollars ? but are there already defi on that year and theres also zero data on stable coin to etherium but are there no stable coin that time ? hmmm

Even though ethereum 2.0 already exists, it does not guarantee that changes will occur as soon as that, the issue of gas fee alone ethereum has not yet been resolved and has started to look for a lot of alternatives. ethereum will not be able to reach above $ 1K this year and it will be a tremendous move. so don't get your hopes up to hit $ 800 is a joy in itself.

but not downplaying the role of ethereum, that ethereum will begin to increase along with a significant bitcoin movement next year, it is likely that a new ATH will emerge for altcoin. we wait for that opportunity by also having a handle in our wallets.

why do you think that 4k is more realistic than 10k?
have you done some analysis that prove that 10k is not realistic, but 4k could be reached, I do think that is great enough, but could not say that see it viable, it is almost 10x rise


when do you think this anytime will come?


where did you saw this one? it is $10 million in 2017 for DeFi, and for ETH2.0 locked is $0, which looks like 50 if you look carelessly 

bump

https://jjmstark.medium.com/the-year-in-ethereum-2020-98123e5f160d

here is a good article regarding Ethereum development throughout 2020, and four main takeaways are:
- Ethereum surpassed Bitcoin in important blockchain value metrics, with more users paying to use Ethereum than Bitcoin, for the first time in history, and even Uniswap fees overcome Bitcoin transaction fees on few days, most notably August 10, 2020
- NFT, Cryptoartist are getting big in 2020, and more development should be expected, with $23 million market in 2020 already established - Ethereum is going to catch more than just finance markets
- DeFi, with two main takeaways - Uniswap turnover above $58 billion and $15+ billion locked in DeFi, used by more than 1 million active addresses
- Ethereum 2.0 launch in December

great read regarding a best year in the community so far