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Cryptocurrency Investing | Why are Crypto Exchanges Interested in Ether?

The cryptocurrency industry has been around for a long time and has been attracting a lot of investors for a decade. Cryptocurrency investing has turned into a huge mainstream business. Cryptocurrency has helped many people to generate extensive profits through their investment. This all started with the introduction of Bitcoin, which was the first cryptocurrency ever that gave the world the idea of the blockchain. This inspired other cryptocurrency firms to innovate more and come up with a different solution based on blockchain technology.

Ethereum was one such cryptocurrency that was introduced to the market based on blockchain technology. Ethereum, however, was different than other cryptocurrencies, including Bitcoin. The Ethereum coin used smart contracts that made Ethereum a token-based cryptocurrency, which was faster than its other counterparts. This created a revolution in the cryptocurrency industry and helped Ethereum attract many investors.

Investors then sought miners who could get them freshly mined Ether coins. This task was made easier when cryptocurrency exchange firms stepped into the picture. Ethereum became a favorite of crypto exchange firms as soon as they gained the attention of the users. This continued for some time without the interest or reason for such optimism becoming clear. Now, here are some reasons that will justify the interest of crypto exchanges in Ether coins.

Glorified History

Ethereum has a glorified history of being a perfect cryptocurrency and a goodwill business organization. After gaining the prominence of being an effective cryptocurrency, the company behind Ethereum declared itself a non-profit organization. It donated all its income, except a fixed amount that can be used to maintain the Ethereum cryptocurrency. Hence the EEA (Enterprise Ethereum Alliance) was formed with the help of several start-ups and fortune 500 companies. This helped the exchange firms to realize that Ethereum was not just a cryptocurrency but it was also a brand that represented everything good.

Technology

The technology that governs Ethereum is one of a kind and has given birth to a far superior breed of cryptocurrencies with stronger security and faster process time. Smart contracts allow the Ether coins to develop their own functionalities. Ethereum itself is a platform for developing decentralized applications and software. The Ether coins are one of many creations of Ethereum, the development platform. These types of technology only suggest that it would be much more adopted in the future and that is the reason crypto exchange firms are interested in Ethereum exchange.

Market Position

Ethereum currently has a market capitalization of over $31 million USD, allowing Ethereum to rank second on the list of best cryptocurrencies. Ethereum has made a significant space in the market, which was created only by the never-ending trust of the investors. The price of Ethereum is around $300 USD per Ether coin which has gained the interest of the investors. This kind of market only suggests profit and advancements in the future market. Hence the crypto exchange firms don’t want to miss out on the big action in the future.

Investor Interest

The Ethereum cryptocurrency comes second in the list of top cryptocurrencies based on the market capitalization. This has gotten many investors interested in the cryptocurrency. The Ethereum coin in itself has many success stories, although it is not as well glorified as Bitcoin. Ethereum has helped many investors to generate extensive profit. This has kept the investors interested in the Ethereum coin, which led to crypto exchanges being optimistic towards Ethereum.

These are some of the reasons cryptocurrency exchanges are interested in Ethereum coins. There are many online cryptocurrency exchange platforms such as Evonax, Coinbase, Circle, etc. that support Ethereum extensively for the above-mentioned reasons. They have clearly suggested that Ethereum is the future of cryptocurrencies and they would like to be a part of that future.

>> Crypto Daily News: Seven Premier League Teams Sign Deals with eToro

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Robinhood Adds Dogecoin | Stock App Now Offers 5 Digital Assets!

Robinhood adds Dogecoin: It was all smiles yesterday when Robinhood, a stock trading app, revealed that it added Dogecoin to its platform. But behind the scenes, some are unsure of this event.

Foes say Dogecoin is a parody cryptocurrency. Moreover, they say that because Robinhood supports less than ten digital currencies, many believed the company to be selective over the coins they carried. On the other hand, fans say despite its bizarre nature, Dogecoin has accumulated mainstream interest and has witnessed price peaks throughout the year.

Robinhood Adds Dogecoin, But There’s More

On the market for the past five years, Robinhood has had its share of successes. There have been game-changing announcements, such as the addition of Bitcoin Cash and Litecoin, something that customers have wanted for a while.

Robinhood customers have also expressed an interest in “buying and selling other cryptocurrencies beyond Bitcoin and Ethereum,” explained the company in a post last week.

Some rumors have even floated around the crypto industry that claim that the stock trading app is planning on making a crypto wallet.

Perhaps, however, the addition of Dogecoin will garner the most attention in the weeks to follow.

What Do You Mean, Robinhood Supports Dogecoin?

Choose first; then trade. It’s that simple. If you’re a stock trader on Robinhood, and you’re looking to move into crypto, you will now see Dogecoin on the list of available digital assets for trading. There will be four others listed as well: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Dogecoin Price and Dogecoin Predictions

You can’t deny that Dogecoin is benefitting from the Robinhood listing. At press time, the altcoin was selling for $0.002951, which means the coin is up 12.37% in the past twenty-four hours. It is currently the 30th largest digital currency by market cap.

Robinhood adds Dogecoin
Source: CoinMarketCap

That said, even though Dogecoin is up more than 10%, there doesn’t appear to be much of a dent in the Dogecoin price, which suggests that perhaps the market isn’t overly excited about Robinhood supporting the parody coin—at least not in the long-term; the more than 10% surge could fade quickly.

Or, the opposite could happen. Dogecoin has received critical acclaim, has witnessed price peaks, especially in January of 2018, is known for its focus on zero-fee trading, and has received investments from American rapper and entrepreneur Jay-Z.

So who knows? Parody or not, lack of increase in price or not, Robinhood decided to list Dogecoin over other coins (like Ripple [XRP]) for a reason.

Only Time Will Tell

Robinhood adds Dogecoin as a digital asset available for trading, but will this benefit both Dogecoin and the stock trading app in the long-run? Let us know what you think in the comments below!

>> Coinbase Gets Approval to List Coins that are Securities

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