Sunday, January 24, 2021

Weiss Crypto Ratings: Ethereum (ETH) is the Main Project Pushing Crypto Industry Forward

Weiss Crypto Ratings has recently acknowledged the big part which Ethereum (ETH), the second-largest cryptocurrency by market capitalization is playing to bring about the growth and development of cryptocurrency.

Ethereum (ETH) has been a subject of criticism by several crypto big guns, citing a centralized network. On the other hand, Vitalik Buterin has not been quiet in his quest to silence the critics.

Weiss Crypto Rates Ethereum (ETH)

Weiss Crypto Ratings, the leading provider of independent, unbiased and trusted ratings of cryptocurrencies has pinpointed the effort of Ethereum (ETH) towards the growth and development of cryptocurrency industry.

In the tweet, the crypto rater made reference to the critics of ETH that praise governments’ efforts in introducing the digital form of their respective national currencies, while they call the digital token ETH a “fiat money”.

Conclusively, the crypto rater asserted that Ethereum (ETH) is the main project that is pushing cryptocurrency forward.

Weiss Crypto shared this, “We’ve seen people call ETH “fiat money” while praising governments for their efforts to introduce their own “digital currencies” like it relates to crypto. Right now, ETH is the main project pushing our industry forward. Whether you want to build or trade, ETH is where it’s at.”

Prior to the remark illustrated above, Weiss Crypto Ratings had shared a contrary opinion to a suggestion related to using Ethereum (ETH) as a governance token.

“Looks like Compound launched a token for governance. Some suggested using ETH as a governance token instead. We think that’s a bad idea… In fact, one of the best uses of platform-specific tokens is to be used in governance. For every other application, ETH is better,” Weiss Crypto shared.

Top 100 Holders of Ethereum (ETH) Are Starting to Accumulate In Numbers

According to a report made available by Santiment, the channel that shares advanced crypto charts and market insights, the top 100 holders of Ethereum (ETH) are beginning to accumulate a higher percentage of the total supply.

Santiment hinted at this development via its official Twitter handle about two days ago. The crypto market insight channel elaborated on the development in a series of tweets.

Read the detailed information as shared by Santiment below:

The top 100 holders of Ethereum are once again beginning to accumulate higher percentages of the total token supply, in spite of the ongoing consolidation that has been occurring for the past couple of weeks.

Generally, when this kind of accumulation starts to mount, it’s a signal that those who have the most stake in ETH (and other respective tokens) are beginning to have a collective sentiment of the token being undervalued and believe it’s a great mid to long-term hold play.

Sometimes these price rises take a bit of time after this accumulation rises, but it is generally a good sign for Ethereum bulls.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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