At the time of writing this article, Ethereum (ETH) was trading at $169.52 United States dollars (USD). The coin was showing a fall of 8.79 percent. The market cap of the coin was $18.14 billion United States dollar (USD) and the market supply of the coin was 107 .01 million United States dollar (USD).
The coin has been showing a downfall for two months now but the coin is expected to revive as a new type of blockchain is under work. Ethereum 2.0 also known as “Serenity” is a blockchain with great scalability. A great scale is required by the platform because the number of transactions on the platform is increasing rapidly.
There are some other concerns for the coin as well. The ratings of the coin in the market are on a fall. Various rating agencies of digital currencies like FCAS (Fundamental Crypto Asset Score), Developer Behavior and Market Maturity all have shown a fall in the ratings of Ethereum (ETH).
There are many factors that contribute to this fall. But the prime reason that is behind this fall is the rising level of competition from other platforms that are providing quick transaction at a low price. Also, the interest of the consumers is moving away towards other platforms.
The Other platform in the market is working quite effectively towards their development keeping consumer service, transaction fees and other attractive features in mind. They are launching themselves in the market with great market speculation. This competitiveness has hampered the reputation and the place of Ethereum (ETH) in the market that it used to hold.