Ethereum (ETH) seems to have lost its charm in the crypto space as it has been seen losing the war on multiple occasions. On one occasion, Ethereum (ETH) has lost to Ethereum Classic (ETC), on another case, its dominance is being threatened by digital currencies such as EOS and Cardano (ADA) as reported by smartereum.com.
The Recent Trend of Ethereum (ETH)
Ethereum (ETH) has seen a huge amount of success when you consider the thousands of Initial Coin Offerings that have emerged from its blockchain successfully. Ethereum (ETH) was also one of the most profitable digital currencies last year.
The digital currency was able to reach an all-time of $1,500, but recently, the interest in the digital currency is fading away. This has to do with the fundamentals of Ethereum (ETH) more than the technicals. The weekly chart of the coin shows that the digital currency faced much pressure over the past couple of weeks, which involves a break of market structure.
Ethereum (ETH) Price Today – ETH / USD
Ethereum (ETH) has broken its market dominance trend and it has lost the battle to altcoins. Nevertheless, there are reasons to believe that the digital currency has not only lost the battle, but it has also lost the war. Top players in the market are beginning to lose their dominance as altcoins are starting to take over the market and grow in market cap.
The digital currency has had its days, it has seen enormous growth, now its focus is one other things greater than money. This might be good for the digital currency community, but for individual investors, it is a clear sign to pull their funds put it on other digital currencies that are focused on making money for them. The blockchain project also has an internal conflict with its miners. Also, there are concerns that Vitalik Buterin – the co-founder of Ethereum (ETH) – is running the show in a nondemocratic way, and this is in the opposite direction and principle in which the blockchain project was founded.