Weiss Ratings: Ethereum is the driving force for the market
The recent growth of Ether – the crypto of Ethereum platform – has led the market to take a stronger interest in this project again. Weiss Ratings also analyzed Ethereum’s role in the crypto industry.
Weiss Ratings a Ethereum
Weiss Ratings claims that Ethereum is the driving force behind the development of the entire modern crypto industry. Why? It’s about how the project affects the foundations of the market. Most of the current major initiatives, including Tron, EOS and many others, were originally built on Ethereum.
Weiss Ratings also points out that blockchain Ethereum and Ether tokens are important elements that are good both for building projects (blockchain) and ideal for trade (of course we are talking about tokens):
“We have seen that people call ETH “fiduciary money”, praising governments for their efforts to introduce their own “digital currencies”. [probably China – author’s note] At the moment ETH is the main project developing our industry. Whether you want to build or trade on it, ETH is where it is.”
Whales buy ETH
Earlier this week, the Santiment analytical agency released data showing that whales on the cryptocurrencies market started to buy the second largest cryptocurrency. The 100 largest portfolios in the Ethereum network are starting to swell again.
Thus, many investors expect the price of the Ethereum token to rise to new peaks this year – mainly due to the rapid development of decentralised Ethereum-based applications and the amount of ETH blocked in them.
Buterin about the CBDC idea
Buterin himself has also recently spoken about the development of the market, who stated that digitisation is inevitable and that decentralised currencies would, however, be much more beneficial to the market than state-controlled central bank digital currencies (CBDC):
“The main challenge for a central bank, or even a corporate currency, is to concentrate power, concentrate or collect data, [the point is] to become dependent on potentially central intermediaries who can exercise very little control over who is capable of participating in these systems”.