If we look at OKEx’s Ethereum prices, we can see that it has seen a big rise recently.
Ethereum is the fastest growing cryptocurrency and is currently ranked at the second number after bitcoin. The value of this cryptocurrency has increased to twice its value in the past year. People using it has increased in the same number too.
The price of Ether (ETH) is even more bullish than BTC, as it is relentlessly marching up the EMA ribbon on the hourly time frame in a bid to go parabolic ahead of the Phase 0 launch of Ethereum 2.0.
It has broken out above $500 with conviction and now looks ready to make an attempt at a parabolic run — the top of which could be over $800.
It mines from the GPU:
Ethereum mines from the GPU, components that are more designed to handle complex calculations and shader rendering. These Graphical Processing Units are capable of processing more hashes for longer because they are designed to handle constant stress.
Unlike CPUs, most of the GPUs come with relatively good coolers too so you don’t need to invest in custom water blocks to keep your GPU cooled down.
Yes, you will still need to ensure that your mining machine does not become a hot goo of silicon, but it is still generally safer than mining from a CPU that Bitcoin so readily relies on.
History dictates Ethereum is faster:
Cryptocurrency mining is only viable because they are essentially decoding a set of instructions or encoding them for transmission. Bitcoin was created back in 2008, but much of its advent has been a total mystery.
In just 12 years, the cryptocurrency only gained value after a complete decade.
Ethereum was invented back in 2015 and gained immense value just 3 years later. This only adds to the fact that Ethereum has gained value much faster than Bitcoin, and it doesn’t seem to stop there.
Ethereum has decentralized finance:
Though many people hate DeFi because it might seem dull at first, it is a relatively risk-free way to earn money. Ethereum works on the concepts of DeFi for this very reason.
Anyone can join the fray without any sort of discrimination. Being on the DeFi hype train means that you will ultimately be watching your earnings multiply without losing anything.
Start to invest in cryptocurrencies!