Cryptocurrency Investing | Why are Crypto Exchanges Interested in Ether?

The cryptocurrency industry has been around for a long time and has been attracting a lot of investors for a decade. Cryptocurrency investing has turned into a huge mainstream business. Cryptocurrency has helped many people to generate extensive profits through their investment. This all started with the introduction of Bitcoin, which was the first cryptocurrency ever that gave the world the idea of the blockchain. This inspired other cryptocurrency firms to innovate more and come up with a different solution based on blockchain technology.
Ethereum was one such cryptocurrency that was introduced to the market based on blockchain technology. Ethereum, however, was different than other cryptocurrencies, including Bitcoin. The Ethereum coin used smart contracts that made Ethereum a token-based cryptocurrency, which was faster than its other counterparts. This created a revolution in the cryptocurrency industry and helped Ethereum attract many investors.
Investors then sought miners who could get them freshly mined Ether coins. This task was made easier when cryptocurrency exchange firms stepped into the picture. Ethereum became a favorite of crypto exchange firms as soon as they gained the attention of the users. This continued for some time without the interest or reason for such optimism becoming clear. Now, here are some reasons that will justify the interest of crypto exchanges in Ether coins.Glorified History
Ethereum has a glorified history of being a perfect cryptocurrency and a goodwill business organization. After gaining the prominence of being an effective cryptocurrency, the company behind Ethereum declared itself a non-profit organization. It donated all its income, except a fixed amount that can be used to maintain the Ethereum cryptocurrency. Hence the EEA (Enterprise Ethereum Alliance) was formed with the help of several start-ups and fortune 500 companies. This helped the exchange firms to realize that Ethereum was not just a cryptocurrency but it was also a brand that represented everything good.
Technology
The technology that governs Ethereum is one of a kind and has given birth to a far superior breed of cryptocurrencies with stronger security and faster process time. Smart contracts allow the Ether coins to develop their own functionalities. Ethereum itself is a platform for developing decentralized applications and software. The Ether coins are one of many creations of Ethereum, the development platform. These types of technology only suggest that it would be much more adopted in the future and that is the reason crypto exchange firms are interested in Ethereum exchange.
Market Position
Ethereum currently has a market capitalization of over $31 million USD, allowing Ethereum to rank second on the list of best cryptocurrencies. Ethereum has made a significant space in the market, which was created only by the never-ending trust of the investors. The price of Ethereum is around $300 USD per Ether coin which has gained the interest of the investors. This kind of market only suggests profit and advancements in the future market. Hence the crypto exchange firms don’t want to miss out on the big action in the future.
Investor Interest
The Ethereum cryptocurrency comes second in the list of top cryptocurrencies based on the market capitalization. This has gotten many investors interested in the cryptocurrency. The Ethereum coin in itself has many success stories, although it is not as well glorified as Bitcoin. Ethereum has helped many investors to generate extensive profit. This has kept the investors interested in the Ethereum coin, which led to crypto exchanges being optimistic towards Ethereum.
These are some of the reasons cryptocurrency exchanges are interested in Ethereum coins. There are many online cryptocurrency exchange platforms such as Evonax, Coinbase, Circle, etc. that support Ethereum extensively for the above-mentioned reasons. They have clearly suggested that Ethereum is the future of cryptocurrencies and they would like to be a part of that future.
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