Ethereum is the Main Blockchain Project Pushing the Crypto Industry Forward, Says Weiss Ratings
Weiss Crypto Ratings, a prominent financial agency has offered its take on the role Ethereum plays in the crypto industry.
The financial agency stood up to protect the Ethereum blockchain and its ETH coin. Weiss Rating claims some people are encouraging the U.S. and China to develop their central bank digital currencies. The financial agency has rebuked such people for supporting centralized cryptocurrencies rather than their own decentralized ones.
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.
— Weiss Crypto Ratings (@WeissCrypto) March 7, 2020
The financial agency further mentioned that the Ethereum network is what is pushing the crypto industry forward. Most of the leading crypto projects such as Binance, Tron and EOS, among others were initially built on the Ethereum network. Weiss Rating added that the Ethereum blockchain and its coin are good for both building new projects and trading.
The analytical agency, Santiment recently shared a data which says that crypto whales have begun accumulating ETH.
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 pic.twitter.com/Rr5C8vuE97
— Santiment (@santimentfeed) March 4, 2020
Despite the ongoing consolidation that has been happening for the past few weeks, Santiment revealed that the top 100 ETH holders are once again accumulating higher percentages of the total token supply of the coin.
Due to the rapid growth of Ethereum-based DeFi dApps, the amount of locked up ETH tokens, many crypto enthusiasts are expecting the price of the second largest crypto to rally to new highs this year.
Featured image courtesy of Shutterstock. Source: Cryptopress.