In addition to Bitcoin, there are many other worthwhile cryptocurrencies and platforms, one of which is ETH. Ethereum is classified as Blockchain 2.0 and allows you to create decentralized applications (dApps). A decentralized finance sector, in particular, makes big players like Goldman very curious.
Institutional Investors Are Getting More Interested in Crypto
Goldman Sachs’ commitment to Ethereum shouldn’t be underestimated. The big bank will start offering its customers Ethereum futures and options to trade in the near future. This gives Goldman customers an opportunity to participate in ETH price development and trading process. This news came at a time when Ethereum was in a critical phase (transformation to ETH 2.0 including PoS and sharding launch). These recent events will probably give a positive impulse to ETH price in the short term.
Futures and options give investors an opportunity to speculate on price movements without actually owning the underlying asset (here ETH). Futures and options are traditional tools in the financial world.
ETH 2.0: The Next Big Step
All blockchain projects go through different phases over time and Ethereum is currently in the most important phase of all. The blockchain platform became so popular that scalability (possible number of transactions per second) was badly affected while transaction costs skyrocketed. For retail investors, it was sometimes pointless to trade Ethereum via decentralized exchanges, since separate swaps cost an arm and a leg.
The switch to ETH 2.0, which is currently scheduled for 2022, is intended to solve these problems. For example, switching to Proof of Stake should ensure better performance, as well as so-called ‘sharding’. Until then, Ethereum developers still have some work to do.
In our opinion, the importance of dApps will only increase, especially thanks to DeFi sector. More and more investors are thinking about using the possibilities that this new technology offers and are realizing its fundamental advantages.
Conclusion: Ethereum with a Promising Future
If Ethereum 2.0 can start as planned, ETH will also play an important role in the long term. However, any further delay could be fatal, especially since competitors are on their guard. The importance of decentralized applications will continue to increase, so ETH developers need to do their best and work even harder now!
What do you guys think about the latest news? Feel free to share your thoughts in the comments!