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Grayscale managing director believes Ethereum is garnering more attention now than it ever has before

Grayscale managing director believes Ethereum is garnering more attention now than it ever has before

Quick take

1 minute read

  • For a long time now, many people throughout the industry have looked upon Ethereum as a platform for software programs to boast about their benefits as well as developing decentralised applications for the blockchain industry.
  • Not many people pay attention to the price of Ethereum (except those who invest in it), especially before the bullish activity that occurred in 2017.

For a long time now, many people throughout the industry have looked upon Ethereum as a platform for software programs to boast about their benefits as well as developing decentralised applications for the blockchain industry.

Not many people pay attention to the price of Ethereum (except those who invest in it), especially before the bullish activity that occurred in 2017.

One of the biggest institutions to get involved with the industry this year is Grayscale and they have said that the project is getting more attention now than it ever has before. This comes despite bitcoin spiking massively over the past month or so as it edges closer to its all-time high of $20,000.

Over the course of this year, Grayscale has grown massively as a crypto investments fund that manages crypto-assets for its customer base. Primarily, the company focuses on bitcoin and Ethereum investments. Michael Sonnenshein is the managing director at the company who has recently said that the second biggest crypto coin in the world is getting more attention now despite the fact that bitcoin has been seen as the more favourable investment choice in the past.

In fact, Ethereum has the most active blockchain network in the world.

During an interview, the managing director gave his views on the market and highlighted that the industry is seeing a plethora of new investors in recent times and Ethereum is the asset that they are drawn to.

There are one of two ways that people go when they invest in this particular asset. People will either put all of their money into it in one go or will use it as an entrance to crypto to give them a taste of what the market has to offer.

Over the course of the next year, the growth for the asset and the network will be one interesting process to follow. As to what will happen now that Ethereum 2.0 has gone live remains to be seen but the community is very excited to see what will occur.

 

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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