MCAP Investment in Ethereum Turns Out To Be The Best Strategy Decision
Hi “MCAPian’s” !
We know you’re having time of your lives. Last time it was Ripple and now it’s Ether. We are all part of an exciting time and we at MCAP are trying to make it enjoyable for you. The prices of Ethereum experienced a jump from around $87 to $122.
MCAP analysts suggested an investment in Ethereum based on some compelling factor. Some of them not all are:
● Potentially revolutionary technology with the potential to impact a whole spectrum of industries
● Amazing dev team. Read their blog posts and check them out on Github, Gitter and Reddit. These guys are on the edge of the state of the art.
● Great upcoming Dapps (decentralized apps, essentially businesses that use Ethereum for core functions): betting with Decentralized Prediction Market Augur Project going into beta soon, big hype for Slock.it’s upcoming crowdsale, super ambitious mammoths like pseudo-bamk Maker, incorporate on the blockchain using Incorporate with Otonomos — Online Company Formation and Governance.
● Making waves in the established industry: Microsoft offers Ethereum as a blockchain-as-a-service, IBM’s in the game too, MIT teams are doing active research and even proposing their own alternatives (Lisk — Decentralized Application Platform)
● The second biggest market cap after Bitcoin only, and one of the most popular cryptocurrencies ever in terms of volume and buzz.
Ethereum Reaches ATH $163
Since, MCAP’s investment a lot has taken place in Ethereum community and some worth mentioning events are:
- Ether, the underlying currency of the Ethereum network, continues to grow in value. This time reaching and breaking through the $100 and $150 marks during the weekend. Ether is currently sitting at $162 after growing 26% in the last 24 hours with more than $162 millions exchanged in the USD market. The rise is connected to the Enterprise Ethereum Alliance growth, the capacity issues that Bitcoin is facing, and the coming of the Metropolis update.
- Ethereum’s transaction volumes have now reached around 161,000 a day. Transaction volumes on bitcoin, on the other hand, have sort of leveled. Yesterday it handled around 319,000, but it varies up and down due to its backlogs which might be forcing users to not transact. That means Ethereum is now handling more than 50% of bitcoin’s transaction volumes, transferring yesterday nearly $2 billion worth of value without any congestion or backlog as ETH transactions usually confirm in seconds.
- The increase in volume corresponds to a considerable increase in price, with the currency yesterday experiencing a jump from around $87 to $122, showing a strong correlation between transaction levels and price.
- Though Ethereum’s market cap, has not yet reached 50% of bitcoin’s, currently standing at around 36%, but with both currencies moving up recently as bitcoin now stands within touching distance of $2,000, a doubling from a few months ago.
Before moving ahead here’s a quick recap of some of the cryptocurrencies in which MCAP invested:
**Data as on 22nd May.
Increasing interest of blockchain community in MCAP
The rapid development of MCAP in terms of market cap is good, user and client base is growing exponentially. We see MCAP as an important decentralized network and technology necessary for the development of a new-generation internet and a host of useful applications.
So, the two reasons we are excited about these are:
1) An algorithm to calculate which AltCoin would be most profitable to mine at any given moment based on its difficulty level, trading volume and the profit it would generate.
2) The dedicated team of analysts at Bitcoin Growth Fund continuously analysis the various ICOs based on more than thirty parameters such as background of the team, viability and scope of the product idea so that our investors never need to worry about their investments.
We are receiving lots of queries on social media that “what’s next at BGF”. Though we love to interact with you all and want to answer all your queries, it’s not possible for us to go through each of them. So, we are bringing you this “updates” section where we will aware you of all the developments taking place at BGF.