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Ethereum [ETH]’s Vitalik Buterin picks MakerDAO, Augur and Uniswap as top three projects in terms adoption




Ethereum [ETH] and Tron [TRX] Price Analysis: Prices rise, but bears yet to abandon market
Source: Unsplash

Vitalik Buterin, the creator of Ethereum [ETH], a leading smart contract platform and cryptocurrency, answered questions pertaining to the project, during an interview with Kobe van Reppelen. These questions were initially asked by the Ethereum community on EthTrader sub-reddit.

Reppelen brought up a statement made by Buterin over a year ago, which suggested that the price of the cryptocurrency had outpaced its development. This was followed by Buterin being questioned on whether he still had the same opinion, considering the current price and development. To this, Vitalik Buterin stated that the developments were definitely moving forward, whereas the prices of the coins were flat, adding “so we’ll see how it goes from here; it’s really interesting.”

Buterin also spoke about what he thought were the successful examples of dApps, or utility tokens in terms of “real adoption”. Vitalik said:

“I mean in terms of like things that people are using, Maker, Augur and Uniswap, kinda seem […] clearly be the top three in, like, a lot of people’s minds I think. People are […] making trades on Augur, people are using DAI, and Uniswap is being used for exchanging all sorts of things.”

Additionally, Buterin was asked whether he was concerned about MakerDao, considering his previous tweets about the project. To this, he stated that he was worried about the fact that there was over 2 million Ether locked up in a smart contract.

[…] I feel like MakerDao team has taken a if more methodical approach to this […] but at the same time like I think it’s important for the community to have kind of a bit of skepticism about just going all the way in a head first and this like Difi thing just because it seems like cool and fancy.”

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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.


Bitcoin Dominance Index [BDI] falls short of Bletchley Ethereum Token Index [BETI] in 2019

Biraajmaan Tamuly



Bitcoin Dominance Index [BDI] outperformed by Index based on the Ethereum blockchain in 2019
Source: Pixabay

One of the key factors which is often used to represent or indicate the potential of a particular cryptocurrency’s growth is its market capitalization. When the market capitalization of a coin or token showcases a positive hike, it usually has a positive impact on that particular asset’s market.

According to LongHash, the Bitcoin Dominance Index [BDI], which is used to measure Bitcoin’s market cap had been the dominant index since the beginning of 2019. It was observed that the BDI improved from 53 percent to 58 percent over the past few weeks after the largest crypto-asset underwent multiple price hikes.

XRP, which dominated Bitcoin by 1,600% back in 2017 on cryptocurrency exchange Bittrex in 2017, was currently down by almost 50% against Bitcoin in 2019. Ethereum [ETH] fared better comparatively, but was still down by 14% against the Bitcoin.

However, the Bletchley Ethereum Token, a token built on top of Ethereum, seemed to have outperformed Bitcoin this year.

The Bletchley Ethereum Token Index [BETI] can be utilized by investors for their allocation to tokens placed on top of the Ethereum blockchain. However, it should be noted that Ethereum is not a part of the index as it is an independent entity. The BETI is a weighted index, which means that the tokens with dominant market caps will take up a larger part of the index and the re-balance will take place at the end of a particular month.

For example, Tron [TRX] and Binance Coin [BNB] currently take up more than half of the BETI’s Weighted Index. Since the launch of their DEX, BNB has enjoyed a lucrative year with multiple hikes bringing the coin to $30 from under $6. Tron also witnessed major growth in market cap as it was up by 40% in comparison to the US dollar.

However, it is important to note that the major tokens on the BETI’s weighted index have all launched their own blockchain, at press time. Hence, it can indicate that the dominance enjoyed by BETI over the BDI over the last few months could point to a situation where the Ethereum blockchain was preferred for the launch of various tokens.

Despite the aforementioned reason, it is safe to state that Bitcoin was not the only entity which dominated the crypto-space this year.

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