The day Bitcoin climbs over 80,000% is the day many of us become very happy indeed. Obviously, a climb in excess of 80,000% is very rare however, in fact it’s almost impossible. ETA, the native token to the Etheera project however has proven otherwise, pleasing investors massively after embarking on a price surge that saw the value of ETA fly from $0.000029, up to $0.125510 in a space of around 2 weeks. With this, came a huge surge in the market capitalisation of the token too, injecting this new project right into the mainstream end of the crypto community.
Now, as we can see from the markets, ETA has crashed back down to earth, this was expected as a result of hard correction, which is always inevitable when a token manages to jump such a huge amount in a very short space of time. There’s no need to worry about this, it was always going to happen.
What is ETA?
Now, before we delve into what has caused the colossal price surge, we want to tell you a little bit more about ETA and the Etheera project. Remember, just because ETA has peaked so quickly this month, it doesn’t make it a perfect investment opportunity. If you want to invest, please go and do your own prior research as we are not investment advisers. We say this often, but it’s important - only invest what you can afford to lose and trade safe.
Etheera is a blockchain project designed to change the way the Real Estate industry works. Based in Switzerland, and backed by its native ETA token, Etheera is considered to be a young project, one that promises to disrupt the real estate industry, across Europe, and perhaps across the rest of the world.
Etheera exists as a platform and a piece of software that allows users to explore a range of different real estate based services, such features include; Matching, Consulting and a Huge Tools series that aims to transform real estate.
According to the Etheera website:
“The Etheera project was established initially in 2017 by IZ Immobilien Kriens GmbH.
The IZ Real Estate Kriens GmbH is a Swiss-based company that is active in the real estate
field since 2013. As industry insiders with very wide expertise, market knowledge and
informative exchange with business partners, owners, landlords and potential buyers,
we have recognized problems and suboptimal processes already at the national level
without imagining the same but much wider problems on international levels! With
Etheera, we have found the ALL IN ONE solution.”
“Etheera offers the first decentralized global real estate platform, based on the Ethereum
blockchain, which provides properties for purchasing, renting and bed & breakfast offers.
This platform is ideal for everybody and everyone, even if you as a private person want to
provide a room for one night or longer period of time, or whether you are looking anything
else. Etheera also thinks about the real estate brokers and professionals of the industry and
offers a complete software tool which has integrated possibilities and will match all needs.”
ETA as a token has been built to support the Etheera platform as a utility token that will be used within the software itself, to allow estate agents to complete tasks and use certain tools within the programme. Since its recent launch and listing on exchanges in the first half of 2018, ETA has seen the most incredible return, which lines up with the future plan of the Etheera project, to expand into a worldwide audience and to begin to explore how blockchain technology could impact other industries such as insurance and precautionary products.
Why has ETA seen such a big spike?
Firstly, let’s just explore the full scale of this spike. According to Ethereum World News:
“Throughout November, ETA has experienced multiple price jumps leading to its astronomical price increase. It began on the first day of November when the price of Etheera suddenly surged from $0.000401 to $0.002658, an increase of more than 560 percent. The next price surge came between November 9 and November 10, 2018. During this period, the value of ETA rose from $0.003228 to $0.011274 – this time, a value increase in the region of 250 percent. Within this rally, there was an initial spike of approximately 85 percent which took the token value to $0.005951. The third spike occurred between Monday and Tuesday (November 12 to November 13, 2018).”
As we have stated, this spike has now come to a dramatic conclusion.
We can’t fully determine why this has happened, however we can confirm that this is good news for those who bought in early during the ICO phase of ETA. Some reports do suggest that ETA is becoming very popular within a number of decentralised exchanges and that this rise in popularity has led to a surge in the market cap and in turn, the value of the ETA token.
Such reports suggest that decentralised exchanges such as Ethershift, HyperDEX, Coinical and BarterDEX have all recently added support ETA on their respective exchanges. Therefore, it seems that this surge may have been encouraged by a small adoption of ETA, within the decentralised exchange community.
What does this mean for me?
If you’re looking to invest, let’s not expect ETA to fly up 80,000% again any time soon, this will be a temporary spike. For now, the advice is to remain calm and see how this pans out. I wouldn’t purchase any ETA now, we expect that this is about to become very volatile and a little risky which is evident in the way that ETA has now hit a major decline.
What we are seeing here is the true essence of a volatile cryptocurrency market!