Every crypto user wanted to see crypto market end 2018 on a high and at the moment it looks that after a very harsh year for cryptocurrencies there is good news for them at the end of 2018. Especially, for the Ethereum (ETH) users because many of the analysts were expecting Ethereum to go down. Tron (TRX) CEO, Justin Sun in a tweet expressed that Ethereum (ETH) time is about to come to an end and he criticized how the ETH dev team has been working and they cannot even keep up with the DApps, Sun stated:
“Ethereum and ConsenSys are slowly imploding. The 60% layoff and 90% price drop are just the beginning. That’s what happens when you can’t keep up with DApps and no funding! Developers leaving and project shutdown will be next. Don’t go down with the ship.”
Well, the current market surge of Ethereum (ETH) has shut down its critics and it has surprised most of the crypto users. It is good to see Ethereum back on trading at $150 after a long time. After hitting the lowest price mark of $82 on 15th December it is really a massive improvement by Ethereum (ETH).
The market from last week has been picking up momentum and this has been due to Bitcoin (BTC) on a recent surge. After Bitcoin hit to the lowest price mark of $3,150 USD this year, it has returned to $4,200 USD mark. This shows that the bull run has started to begin with little rises. So, BTC’s upward trend is really pushing the market to move up and its good for the other coins.
In last seven days’ time, Ethereum (ETH) has risen up to 71% and this upward trend to make it possible for the coin to pass XRP and gain its lost spot at number 2. If the ETH carries its current momentum in the next 48 hours, then we can see it go pass XRP, which will be huge for Ethereum. This will be a huge booster for ETH before it enters the new year.
Rising from $82 USD to $150 USD around one-week time, this is why he cryptoanalysts are expecting the cryptoanalysts are expecting Ethereum (ETH) to go pass XRP. The Co-founder of ETH, Joseph Lubin said that the sky is not falling and in his point of view, the future for Ethereum looks pretty bright. He added that entering into 2019, if people wear can’t see anything positive for Ethereum they would have to wear shades. He meant to say that they need to see Ethereum (ETH) in depth. ETH has the capability to rise back and the technology is still there if it has had a bad year it doesn’t mean that it could not surge back.
The recent surge is one the indicators that Ethereum (ETH) has been a surprising factor for the users in the next year and we might see ETH returning back to its previous form in a bull run. At the time of writing, Ethereum (ETH) was trading with a price of $148 USD with a market cap of $15.4 billion and trading volume of almost $4 billion. There is not a big difference between XRP’s and ETH’s market cap, so if Ethereum goes on performing like this for some time, we might see it back on the 2nd spot. Ethereum (ETH) had surged up to 15% in the last 24 hours.