New Ethereum Foundation
For one reason or another, Ethereum (Ether / ETH) is inferior to Bitcoin since the beginning of a bullish trend. While the leading cryptocurrency fell relative to 60% of its historical maximum, ETH is still falling by more than 75%, still wallowing in depression in the territory of the bear market. Despite this, the cryptocurrency continues to gain momentum.
According to a recent Bloomberg report, Darma Capital, a new investment fund of $ 100 million will focus primarily on Ethereum. In an interview with Andrew Keese, Ethereum's pioneer developer and investor ConsenSys, who became the managing partner of Darma, said that his company expects ETH to grow over the next decade, saying that Darma "lasts ten years." He did not mention a specific target price, but the “fair estimate” of a digital asset in Case’s eyes is probably much higher than today's estimate of $ 250.
Kies did not say how much of the principal amount of $ 100 million would be transferred to Ethereum, in particular, but the investor stressed that ETH is important because it acts as the “equivalent [decentralized] network” on which firms can be based. In a sense, Ether is like buying a share in TCP / IP.
In the near future, Darma is expected to create similar investment opportunities for other digital assets, namely, Bitcoin and the launched Filecoin, which is one of the least known, but most popular ICOs in the relatively short history of crypto.
ETH adaptation is growing
The seal of approval of Dharma came when Ethereum began to gain popularity as a platform. According to previous reports, network fundamentals are on the rise. ETH filling station reported that last week Ethereum network broke its “daily gas consumption record”, which means that the network probably processes more data and contract fulfillment than ever before.
This is remarkable, especially given the fact that the ETH is still dropping by more than 70% of its historic high of $ 1,400, which reached the peak of cryptomania in early 2018.
This is not the only sign of growing interest in Ethereum as a platform, and not just as an investment. According to a recent tweet from the Binance research unit, most of the other key features of the network are flashing green. In particular, the number of active addresses reached a ten-month high, daily intranet transactions are the highest in a year, and Ethereum’s market capitalization rises to eight-month highs.
A brief look into the Ethereum $ ETH chain
- Active addresses reaching 10 month high
- Daily on-chain transactions reaching 12 months high
- Marketcap approaching 8 month high
Can ETH return to its former glory? pic.twitter.com/MDK6etAtLj
- Binance Research (@BinanceResearch) May 30, 2019
All this is due to the fact that “decentralized finance” began to stimulate transactions and excitement in Ethereum, and large corporations, such as Ernst & Young, Samsung, JP Morgan and dozens of others, began working with the blockchain and its core technology.