The most popular and most expensive cryptocurrency in the world is attractive because it offers an alluring prospect of maximizing future profits. According to Morgan Stanley experts, the cue ball is becoming more and more rooted in the global financial markets. The increased investor interest, in turn, contributes to the growth of the bitcoin rate. At the same time, companies that decide to operate with bitcoins in their activities should be ready to:
- find a way to quickly cash out the crypt or save it reliably;
- constantly monitor the hard-to-predict volatility of bitcoin;
- track the results of reinvestments as accurately as possible.
The Ethereum system was created primarily for developers. At the same time, it offers impressive opportunities for the business community. At the moment, a wide campaign is underway to inform entrepreneurs about the functionality of decentralized applications that Ethereum allows them to create. With their help, you can optimize many areas of activity, including logistics and document flow.
It can be concluded that the main advantage of Ether lies not in its attractiveness as an asset but in the attractiveness of the technology, which makes it possible to speed up, reduce the cost and optimize business processes in every possible way. However, in early 2017, the Enterprise Ethereum Alliance was formed. This is a union of about two hundred organizations testing the use of the Ethereum system in various projects. The following giant companies are members of the association:
- J.P. Morgan Chase;
- Credit Suisse;
For example, BP is testing Ethereum in order to increase the speed of settlements on futures transactions, the rest are doing about the same – trying to optimize processes after these processes have reached the maximum level of scalability.
Bitcoin and ETH: An Unstable Relationship
To understand the relationship of other cryptocurrency pairs, it is not enough to analyze quarterly data – you need to dive deeper into statistics.
For example, if we take the data for the quarter, then the BTC / ETH pair shows rather modest correlations at the level of 0.57. However, if we consider a shorter period of time, for example, one week, then the picture becomes much more interesting – the correlation reaches 0.98 in a few short periods of time. For example, when switching from BTC to ETN for the week of August 1-7, 2016, the BTC / ETH price ratio was above 0.9. Click here.
However, the correlation of these cryptocurrencies was not always so high, and at times showed extremely low numbers. For example, during the week in August and October 2015, when their ratio reached 0.04.
The cryptocurrency space is becoming more and more developed, and some of the digital assets participating in the formation of this market may well show progress, for example, occupying narrow niches, which over time will lead to a change in trends in their pricing. If such cryptocurrencies manage to stand out and attract the attention of traders, then their relationship with bitcoin could weaken significantly over time.
Bitcoin and ETN
Bitcoin is still the largest cryptocurrency, but it is definitely not the only one. Electroneum or ETN is the first mobile cryptocurrency that can be fully managed and mined through an application on your phone. ETN allows people to buy goods, microtransactions internationally with just one button of the phone and avoids long queues at banks or a laborious transaction as is the case with some other currencies. This currency was launched in 2017 and is among the 100 best cryptocurrencies of today. Like any other cryptocurrency, this one is based on blockchain, but what makes it different from the others is precisely that it is a mobile currency, and the target group is smartphone owners – that is, more than 80% of the population. In principle, ETN tries to simplify the complex transaction process for those who have no experience in the field. With ETN, mining is very simple, and unlike Bitcoin, there is an existing number of both – the maximum number of Bitcoins in the world is 21 million, and Electroneum 21 billion! This cryptocurrency completely preserves privacy modeled on Monero, while Bitcoin transactions reveal the sender and recipient.
Many people believe that future cryptocurrency prices cannot be predicted. Yet we know that there is actually a logic behind price fluctuations. Given the fact that we can see this logic retrospectively, there is obviously a chance to predict future prices.
Electroneum was created with the intention of being different, more accessible, and easier for transactions. Non-governmental organizations around the world benefit from this cryptocurrency, because they are the ones who run the network, and they get coins as a reward. It is considered that this is currently the only cryptocurrency that makes payments instantly, and the ETN wallet is also considered the most secure of all.
In a sphere dominated by projects that try to beat Bitcoin or Ethereum or address some of the most important issues like scalability and privacy, there is one project that has a completely different mission, called Electroneum. ETN’s total supply will be 21 billion coins. Thanks to the ICO launched in mid-September 2017, a total of 6.3 billion ETNs were distributed. During the ICO, 4.4 billion ETN was reserved for investors. Twenty million ETNs were received by a team of 12 people behind the project. At the time of writing, just over 9 million ETNs are in circulation.
We live in a world where each of us is looking for an additional way to earn and secure a better future for our family. Although gold trading is one of the most lucrative investments, digital gold has also found its way, and its great advantage is transportation. Do a little research and start investing in cryptocurrencies. For starters, let it be smaller amounts and investing in more different currencies, so you never lose all your money. Keep in mind that you should never invest more than you can lose without continuing to live undisturbed.