Some traders have had enough of the Ether drama since the recent upset where the variations on Ether are adding new elements to the equation. In fact, there is the DETH (Dark Ether) that is becoming more popular, as well the the blossoming Ether Classic which is driving the Poloniex markets, and has been all the craze lately since investors have been converting some of their more expensive Ether into the latest ETC. Could Poloniex be a tractor beam for Ether stockpiling with it’s innovative conversion system?
This will be something we will be watching closely, as well as the price of Bitcoin since it is starting to get some greater interest from Ether heavy investors who are slightly baffled by the situation, and is either being pushed down or maintained around the $889 CAD price point for the coin. Investors are also queueing up on the scarcity of supply limitations as the reward halving has caused some constriction (approx. 50%) and many mining operations are facing hardships.
After the hard fork, and the halving, things are only going to get pricier in the industry as larger players start to try to diversify into new stakes and flood the market?? especially in war-torn regions where banks have been plundered or experience environmental disasters?? Have the president’s even considered how people in remote regions are affected when their banks get hit by environmental disasters? Not likely, but in case people ever wonder what the back-up plan is for emergency events like this, the answer is Bitcoin?
The other big aspect impacting the market is the under-serviced populations that do not get adequate banking representation, and is allowing for immigrants and underprivileged people the opportunity to help their loved ones without incurring as much risk as mailing money or dealing with corrupt loan sharks. Regardless, of the issue, and while one would never ever think of Bitcoin as a safe haven, from some of the situations we have seen, one of these currencies is going to make a run for the fences, and right now Bitcoin is dominating the market cap with close to 81% —
Increase in block size may be contributing to the increased usage.
we hope to take a look at the number of transactions to get a better idea of usage, but then again, everything is built around Bitcoin, so it will be very interesting to see how the fluctations from these other coins impacts the price of BTC. That said, ETC is awful bullish at the moment and is most definitely the biggest gainer on the day, with over 114 million so far, making for one of the largest single days in recent history for a new coin, which in this case, isn’t really so new? This Ether Classic story continues to develop, and we will be watching closely to see how this story develops…
Some more Blockchain STATS for BITCOIN