Ripple price started a downside correction after testing the $0.3100 resistance against the US dollar.The price traded below the $0.3080, $0.3065 and $0.3060 support levels.A replica of the previous ascending channel is formed with support at $0.3050 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair is likely to extend the correction towards the $0.3025 support before a fresh increase.Ripple price corrected lower recently from important resistances against the US Dollar and bitcoin. XRP/USD is likely to find a strong buying interest on dips near $0.3025 and $0.3010.Ripple Price AnalysisRecently, we saw a solid rebound in ripple price above the $0.3000 pivot level against the US Dollar. The XRP/USD pair even settled above the $0.3025 resistance and the 100 hourly simple moving average. There was an upside extension above the $0.3065 and $0.3080 levels. However, the price faced a strong selling interest near the $0.3100 level. A swing high was formed at $0.3099 and later the price started a downside correction.It corrected below the $0.3080 support and the 23.6% Fib retracement level of the last leg from the $0.2955 low to $0.3100 swing high. Later, there was a break below a short term ascending channel $0.3065 on the hourly chart of the XRP/USD pair. Finally, there was a break towards the $0.3025 support and the 100 hourly SMA. The price traded close to the 50% Fib retracement level of the last leg from the $0.2955 low to $0.3100 swing high. At the outset, the price is rebounding and trading above the $0.3040 level.More importantly, a replica of the previous ascending channel is formed with support at $0.3050 on the same chart. Therefore, there are chances of another dip towards the $0.3025 support and the 100 hourly SMA. If there are more losses, the next support is near the $0.3010 level. It represents the 61.8% Fib retracement level of the last leg from the $0.2955 low to $0.3100 swing high.Looking at the chart, ripple price might dip in the short term, but it remains supported near the $0.3025 and $0.3010 levels. The next main support is at $0.3000, below which the price may move back in a bearish zone. On the upside, an initial resistance is near the $0.3080 level. An upside extension could lead the price towards the $0.3100 resistance. Finally, a break above $0.3100 is likely to push the price towards $0.3200.Technical IndicatorsHourly MACD – The MACD for XRP/USD is currently flat in the bullish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently moving lower towards the 50 level.Major Support Levels – $0.3050, $0.3025 and $0.3010.Major Resistance Levels – $0.3080, $0.3095 and $0.3100.
Archives for March 28, 2019
ETH price corrected lower recently after trading close to the $140 resistance against the US Dollar.The price tested the key $137 support level, which was a resistance earlier.There is a new connecting bullish trend line formed with support above $135 on the hourly chart of ETH/USD (data feed via Kraken).Bulls are currently battling near the $137 support as the price remains in a bullish zone.Ethereum price is consolidating above key supports against the US Dollar and bitcoin. ETH could pump higher once it clears the $139 and $140 resistance levels in the near term.Ethereum Price AnalysisEarlier this week, we saw a sharp upward move in ETH price above the $135 resistance against the US Dollar. The ETH/USD pair even traded above the $137 resistance and the 100 hourly simple moving average. Buyers pushed the price towards the $140 resistance, where it faced a strong selling interest. As a result, the price corrected lower below the $138 support level. However, the previous resistance level near $137 prevented declines and acted as a strong support.The price recovered recently above the 23.6% Fib retracement level of the recent decline from the $140 swing high to $137 swing low. However, the current price action suggests range moves as the recent recovery was capped by the $139 level. Besides, the 50% Fib retracement level of the recent decline from the $140 swing high to $137 swing low acted as a resistance. It seems like bulls are putting up a strong fight to protect the $137 support area. If there are more losses, the price may test the $136 support and the 100 hourly simple moving average.More importantly, there is a new connecting bullish trend line formed with support above $135 on the hourly chart of ETH/USD. Therefore, there are many supports on the downside near the $137, $136 and $135 levels. On the upside, the price must gain momentum above the $139 and $140 resistance. If buyers gain bullish momentum, the price is likely to accelerate above the $144 level in the near term.Looking at the chart, Ethereum price is trading nicely above the $136-137 support area. In the short term, there could be range moves above the $136 level before the price moves higher again. On the upside, a break above the $140 barrier is likely to give buyers more control. In the mentioned case, the price might rally sharply above the $142 and $144 levels.ETH Technical IndicatorsHourly MACD – The MACD for ETH/USD is about to jump back in the bullish zone.Hourly RSI – The RSI for ETH/USD is currently placed nicely above the 50 level.Major Support Level – $136Major Resistance Level – $140
nChain, the company founded by self-proclaimed bitcoin inventor Craig S. Wright, is looking to hire a patent counsel in London to manage and grow the firm’s portfolio of blockchain-related IP.
The applicant must be a qualified European Patent Attorney, have a keen interest in bitcoin and blockchain and also possess a first degree in computer science, electronics, physics, or mathematics, the job advertisement states.
It goes on to say that the London-based position would conduct “patent drafting” and “global prosecution” for its patents and that the individual would have and “significant responsibility for creating and exploiting commercially valuable IP assets.”
Wright, who is best known for declaring himself (without evidence) to be bitcoin’s pseudonymous creator Satoshi Nakamoto, is also a strenuous collector of patents related to the technology.
A Reuters report two years ago first connected Wright with a company called EITC Holdings Ltd (which later became nChain), and through which he had filed over 50 patent applications in the U.K. related to blockchain technology. Earlier this month Jimmy Nguyen, chairman of nChain’s strategic advisory board, announced that the firm had filed 666 patent applications.
Data provided by the UK Intellectual Property Office shows that EITC has submitted a range of patent applications focused on the technology in recent years, including ones for “implementing logic gate functionality using a blockchain,” an “operating system for blockchain IOT devices” and “methods and systems for the efficient transfer of entities on a peer-to-peer distributed ledger.”
The explosion of R&D related to blockchain potentially creates an environment where “Non-Practising Entities (NPEs),” sometimes referred to as “patent trolls,” can thrive simply by seeking and enforcing patent rights.
There have been no reports of nChain or Craig Wright becoming involved in patent disputes, but it’s clearly part of the job description, which asks for:
“The ability to undertake patent drafting, global prosecution, and European opposition matters.”
nChain did not respond to requests for comment by press time.
Craig Wright image: BBC
In 2017, the store of value narrative surrounding Bitcoin and its astronomical rise to $20,000 solidified the “hodl” meme in retail investors, causing them to spend their crypto less often in fear of missing out on incredible gains.
Bitcoin has been able to maintain the upwards momentum that was sparked earlier this week when the cryptocurrency surged back above the important psychological price level of $4,000. Although BTC has continued to climb, it has still failed to decisively break above $4,100, which has proven to be a strong level of resistance so far.Now, one analyst believes that Bitcoin is nearing a battle zone that will likely lead to some major volatility in the near-future.Bitcoin (BTC) Continues Climbing, but is Nearing Key Resistance LevelAt the time of writing, Bitcoin is trading up 0.5% at its current price of just under $4,090. This past Monday, Bitcoin faced a large amount of selling pressure that sent its price spiraling downwards to lows of $3,900, where it found support that propelled it back above $4,000 and towards its current price levels.Charles Hayter, the co-founder of CryptoCompare, spoke to MarketWatch about BTC’s recent price action, noting that large investors are likely accumulating the cryptocurrency at these current price levels.“We are still in this channel we’ve been in the past couple of months and those who were getting out have and now some long-term investors are probably looking to accumulate… Furthermore, we are still seeing a lot of solid infrastructure being built and people are realizing more and more people are adopting the technology,” Hayter explained.Bitcoin’s ability to hold well above its 2018 lows of $3,200 over the past several months has been an overwhelmingly positive revelation for the cryptocurrency, as it signals that this price level is likely to be a long-term support level, and possibly a bottom.Analyst: Bitcoin Nearing a Battle ZoneBecause Bitcoin is nearing an established level of resistance around $4,100, and an even stronger level of resistance around $4,200 to $4,300 that was formed in late-February, it is likely that BTC’s current levels of relative stability will be fleeting.David Puell, a popular cryptocurrency analyst on Twitter, spoke about this upcoming volatility, noting in a chart that Bitcoin is currently caught in an ascending channel that is pointing it towards the aforementioned resistance levels and towards its 200-day moving average (MA), which will likely result in large volatility.“$BTC: This battle is going to be a fun one to watch,” he concisely noted while referencing a chart with his notes on it.$BTC: This battle is going to be a fun one to watch…#Popcorn pic.twitter.com/nrAeMKQet0— David Puell (@kenoshaking) March 28, 2019As the crypto markets begin to enter the end of the week, it is likely that analysts will gain a better understanding of whether or not BTC is ready to break above the strong resistance levels that lay ahead of it, or if it needs to dip lower before incurring more buying pressure.Featured image from Shutterstock.
An article out today in the Economist lists several reasons why Bitcoin may never have a “long-lasting” recovery. The unnamed author writes, in part:
“The bust has been correspondingly brutal. Those who bought near the top were left with one of the world’s worst-performing assets. Cryptocurrency startups fired employees; banks shelved their products. On March 14th the CBOE said it would soon stop offering Bitcoin futures.”
He or she neglects to mention that Bitcoin has previously been one of the best performing assets as well. An interesting point to make: Bitcoin over the past three years has been the best and worst performing asset to hold. Those who called the bubble and jumped ship at the top have laughed all the way to the bank, while long-term philosophical hodlers remain unfazed.
Mass Adoption May Be The Job of Some Other Crypto
The article makes a legitimate argument that mass adoption of Bitcoin may never be forthcoming. If we view Bitcoin as a “currency,” intended for making payments of all sizes, the technology to do so hasn’t arrived yet. Bitcoin Core supporters believe expanding block size is unreasonably burdensome on miners and full nodes, while Bitcoin Cash supporters point out that even Lightning Network may not be best suited for making micro-payments.
The Economist speaks to the nature of Bitcoin’s actual transaction volume and notes a recent falsified report about the amount of value actually processed by the Bitcoin blockchain in 2018.
7 Transactions Per Second, Every Second…
Allegedly, an absurd group of Bitcoin fanatics claimed $3.3 trillion – a figure which included “change” transactions. When you send a Bitcoin transaction, your change is returned to an address you control. You didn’t actually send any money, but allegedly people at Satoshi Capital Research decided to include change transactions in their estimation.
(CCN couldn’t locate the research report in question, nor did the Economist decide to link it.)
Ridiculous as that may be, the actual volume was admirable: over $800 billion.
The nature of that transaction volume puts a damper on celebrations, however. Only a little under $2.5 billion of that sum was used to buy anything. This estimation is made by a representative of Chainalysis, who bases the figure on the amount that went to payment processors.
It doesn’t take long for the article to become laughable, though. The author writes:
“Moreover, Bitcoin is designed such that only 21m Bitcoins will ever be created, making it inherently deflationary. Mining, essentially a self-adjusting lottery in which participants compete to buy tickets, is energy-hungry. At the height of the boom it was thought to consume as much electricity as Ireland (these days, it merely consumes as much as Romania).”
He or she also criticizes the immutable nature of Bitcoin transactions and says this is only good for con artists and criminals. Immutable transactions are actually a feature, not a bug if you ask most cryptonaughts. Proper security is necessary to use any form of digital money, even online banking. If you want to control your financial future, owning your money – instead of keeping it in the custody of some banker you barely know – is vital.
What This Market Needs Is Some True Disruption
The article only discusses Bitcoin, of course.
Yet, it takes a serious level of closed-mindedness to believe that Bitcoin is the only possible winner in the cryptocurrency race. Bitcoin, born on 3rd base, has a long lead in every aspect of the market except a crucial one: usefulness.
Ethereum and other smart contract platforms continue to grow exponentially as increasingly interesting decentralized applications are built on them. The question of what the top cryptocurrency will be in 20 years is an open one, whether certain groups want to admit it or not.
The article concludes:
“But boosters are trying their best. They have taken to referring to the post-bust period as a “crypto winter”. The intended analogy is with artificial intelligence: the “AI winters” were funding crunches in the 1970s and 1980s after hype outstripped reality. The implication is that, one day, summer will return.”
Crypto Winter Will End
It’s true. In this realm, we understand that a return of summer is inevitable.
The winners and losers in that period may not be who they were before. Bitcoin maximalism is not only obnoxious, it’s intellectually dishonest and disregards everything we know about disruption in the technology sector. “MySpace/Yahoo!/AOL forever” is a logical antecedent of this ideology.
From this author’s perspective, Bitcoin’s most likely role in the life of cryptocurrency is a maximal application of its liquidity and value storage features. Let fees get higher and higher on Bitcoin – it would improve its usefulness in this regard, as spending it on trivial things would become less and less attractive, while its proposition as a “store of value” would get a boost.
Things like Liquid Network try to mirror the limitless potential of platforms like Tron, EOS, or Ethereum. Sorry, but no matter what you do, speculating and hodling Bitcoin is still its most attractive use case.
But summer will return. Winter is never forever, and we’ve seen much worse than this before. If things get worse than they are today, the sector gets a new opportunity to re-consolidate on philosophical lines. You’re either in or you’re out, and the stakes are only as high as you want them to be.
Disclaimer: The views expressed in this article belong to the author alone and should not be attributed to CCN.
By Bitcoin Schmitcoin
Copyedit by Ashley Lachance
Since mid-February, the bitcoin market has continued to drift upward toward a band of strong, macro resistance (shown below as a red band). This slow, drift upward marks our fourth test of the resistance zone and, unlike the three prior tests, our rejection of the level has shown a weakness on the side of the bears:
Figure 1: BTC-USD, Daily Candles, Fourth Rejection
If we compare the three prior rejections (labeled 1, 2 and 3), we see that the move into this resistance level was violent — and had equally violent rejections. Our fourth attempt, however, was brought into the level on low volatility and saw a weak rejection.
In addition, we are displaying our first sign of support above a crucial level in our market structure (outlined below in black):
Figure 2: BTC-USD, Daily Candles, Current Rejection Finally Finding Support
This black, outlined level is significant level as it represents the first macro support/resistance flip at this level. This represents our first time withstanding a rejection of the red zone while maintaining the support of the black level. If we look a bit closer, we can see the formation of what appears to be a reaccumulation trading range that is currently finding support in the upper boundary of the range:
Figure 3: BTC-USD, Hourly Candles, Low Time Frame Trading Range
One identifying characteristic of this trading range is the shakeout to the bottom side of the range, followed by a strong, impulsive move to the upside. This impulsive move to the upside represents, once again, a support/resistance flip (outlined in blue). This level previously supplied resistance as the market found itself unable to maintain support every time the market made its way to the top half of the range.
This shakeout into a support/resistance flip is often symptomatic of reaccumulation in the market. Failure to maintain this support would obviously change the market structure, but so long as the hourly time frame maintains its support on this level, the market structure remains bullish. And, considering it’s consolidating right below the red resistance outlined in Figure 1, it puts the bears in an uneasy position.
The fact that we haven’t been completely rejected at this level yet, after our fourth attempt to crack the resistance, is a good sign that supply is exhausting and bears are running out of ammo for the time being. Also, it should be noted that this red level we are testing is a level that could soon put shorters underwater on their positions. If we see a strong test to the upside and manage to push a new high, it is very likely we will see a strong continuation in the upward direction.
For months, the market has stacked short position after short position in a very tight band of prices. If we shove above that band of prices we can expect to see a strong surge of stop losses hit the market in what’s known as a “short squeeze.” A short squeeze is essentially just a cascade of stop losses that close out short positions via a market buy order. As the price pushes further up, the stop losses continue to stop out the next person in line, then the next person in line, and so on, until the bears are finally cleared out of their positions.
This short squeeze idea is all speculation at this point as we have yet to manage to find support on the red band of resistance described in this article — it’s just something to consider as the shorters begin to pile up, yet again, for the fourth time.
- Creeping upward, the market finally finds itself testing long-held overhead resistance. So far, we have seen three unsuccessful tests that were swiftly rejected. And now, for the fourth time, the market finds itself testing the level without a strong rejection.
- The market has managed to find support on macro levels that were previously resistant for the first time as we creep up once again for a test of the macro resistance.
- On lower time frames, we can see signs of reaccumulation as bitcoin grinds against the macro resistance and tests the strength of the supply in the market.
Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc sites do not necessarily reflect the opinion of BTC Inc and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
The story of the now defunct QuadrigaCX crypto exchange has captivated the entire cryptocurrency industry over the past couple of months, as it has been filled with absurd revelations and strange twists that seem more akin to the plot of a movie rather than a real-life occurrence.Now, QuadrigaCX’s former regulatory attorney is speaking up about her time working for the exchange, describing the company’s descent down a path of “lawlessness” that resulted in Gerald Cotten – QuadrigaCX’s CEO and founder – terminating all employees who he considered to be “law and order” folks.A Brief History: The QuadrigaCX ImbroglioThe fiasco surrounding QuadrgiaCX first began in late-2018 when Cotten died suddenly during a trip to India. Although the death of a CEO shouldn’t be enough reason to send an exchange into an operational tailspin, Cotten was the only person who had access to over $190 million worth of customer funds.This immediately sent shockwaves throughout the crypto industry, and many users of the exchange were sent into a frenzy in a futile attempt to recover their lost funds. Almost immediately after news broke about the situation, a host of rumors began to surface offering strange theories regarding what actually happened to Cotten, with one popular theory claiming that the region he died in was known as a fake death certificate capital.The lost funds and countless victims then led regulatory agencies in Canada – where the exchange was based – to begin investigating the company, which has resulted in multiple audits that have still not been able to discover the whereabouts of any of the lost funds.With each new revelation in the case surrounding the exchange, it is growing more appearant that QuadrigaCX’s operational flaws extended far beyond Cotten being the only one with access to user’s funds, and their path to inevitable destruction appears to have begun quite a while ago.Crypto Exchange QuadrigaCX’s Former Attorney Tells AllIn a recent article published on CoinDesk, Christine Duhaime – a regulatory attorney in Canada who was hired by the exchange for a short period of time in 2015 – explained that Cotten was guiding his exchange down a precarious path long before his death.Duhaime noted that her time at the company came to an abrupt end shortly after Cotten decided that he no longer wanted the exchange to be a listed company, which was directly proceeded by him firing all the employees that were, in his mind, “law and order” people.“Gerald Cotten made the decision that he no longer wanted QuadrigaCX to be a listed company. On that day, he terminated the professionals that were, in his mind, the ‘law and order’ folks – the accountant, the auditor and me, the regulatory attorney,” she explained.Furthermore, after this occurred, Duhaime explains that Cotten began running the exchange as if it has “no investors, no shareholders, no regulatory agencies and no law that applied to it – no corporate law, no securities law, no anti-money-laundering law and no contract law.”Another interesting twist in the story came about more recently, when Duhaime’s firm found themselves the target of an extortion scheme that arose at the beginning of the ongoing creditor protection case.“What happened was that a person demanded…that we give them privileged and confidential information of QuadrigaCX, failing which they would defame us on social media, cause harm to our firm and file a false criminal report against our law firm to law enforcement,” she said.Although her firm did not give away any of the aforementioned information, Duhaime notes that other people with critically important information are now hesitant to come forward out of fear of also being targeted.As the legal case and audits surrounding QuadrigaCX persist, victims of the exchange will hopefully be able to recover their lost funds, and the industry will be able to move forward, learning from the exchange’s grave mistakes.Featured image from Shutterstock.
The darknet has a new soldier in the form Gustuff, a new Android trojan that has targeted over 125 cryptocurrency and banking apps.
Gustuff has been in existence since April 2018 and stands with Anubis, Red Alert, and BankBot as one of the deadliest threats to the financial space. Cybersecurity firm Group-IB suggests that Gustuff can uncover login credentials and automate transactions for a variety of banking and crypto apps including Capital One, Wells Fargo, PNC Bank, Coinbase, and Bitcoin Wallet. It’s also been known to target credentials for other payment and messaging apps, including Western Union, PayPal, Walmart, and Skype.
Gustaff Wants Your Money – And Crypto
Gustuff operates predominantly by taking over the Android Accessibility service. Designed for persons with disabilities, the service can tap screen items and automate interactions for users who can’t do this themselves.
Rustam Mirkasymov – head of dynamic analysis of the malware department at Group-IB – says this behavior isn’t surprising for most trojans, but Gustuff has a trait that seemingly makes it more dangerous:
“Trojans that use [the] accessibility service is not a rare occurrence. Gustuff’s unique feature is that it performs ATS with the help of the accessibility service. The fact that Gustuff uses [an] ATS makes it even more advanced than Anubis and RedAlert.”
ATS stands for automatic transfer service. Transactions occur through infected computers when ATS is utilized, meaning Gustuff doesn’t need to find login credentials that it would then use to steal funds. Instead, it simply infects a computer or mobile device and fills in the credentials on its own from there, allowing financial transfers to take place.
Gustuff can allegedly turn off the security feature Google Play Protect and show “custom push notifications” that pose as certain apps which can steal login information. It can gather data from documents, videos and photos, and is reportedly capable of resetting electronic devices to their original factory settings to hide its presence.
The good news is that Gustuff’s popularity hasn’t swelled, having never been uploaded to apps on the Google Play Store. Thus far, Group-IB says the trojan has primarily been distributed through SMS spam, which houses links to its installation files.
Keeping Trojans Off Your Crypto Wallet’s Heels
Regardless of what we’d like to think, the cryptocurrency world is still wrought with individuals and products that pose malicious intent. The potential hacks of cryptocurrency exchanges like CoinBene and DragonEx in recent days suggest that safety and privacy in the digital currency world aren’t quite what they should be, but analysts say there are ways to stay protected.
Group-IB has commented that if users wish to avoid trojans like Gustuff, they should limit their downloads to apps strictly available via Google Play, as Gustuff has been unable to bypass Google’s security scans. Users should never download apps from third-party stores and should always enable signature modes for their devices. This ensures that if login credentials are ever stolen, they can eventually be tracked back to the devices from which the thefts may have occurred.
In a free and unregulated market, it is only natural that competition will emerge, and proponents of free markets believe that this competition helps to propel platforms forward, while simultaneously providing investors with multiple investment options to choose from.Ethereum, which is widely hailed as one of the most popular open-source blockchain platforms was long seen as the best in the industry, but growing competition from competing blockchain projects, like EOS, Tron, and NEO, may be reducing ETH’s market share and causing it to lose its lure.Ethereum (ETH) Faces Downwards PressureEthereum, like most cryptocurrencies, has witnessed less-than-positive price action over the past year, with ETH plummeting to lows of roughly $90 from highs of $1,400. Ethereum is currently trading up from its lows at its current price of $140.Although ETH has been (mostly) able to maintain its position as the second largest cryptocurrency by market cap, it has not recovered nearly as much of its losses as competing blockchain platforms have.EOS, which is widely considered to be a competitor to ETH, is currently trading at $4.32, up significantly from its 2018 lows of under $1.70. Tron (TRX) has also posted a slightly better recovery from its all-time-lows than Ethereum, although it has not surged as much as EOS. TRX is currently trading at $0.024, up from its 2018 lows of $0.011.Travis Kling, the founder of cryptocurrency hedge fund Ikigai, spoke to Bloomberg about Ethereum, explaining that an investment in the cryptocurrency is a bet on the future adoption of its network.“Owning Ethereum today is a call option on what you think the network is going to be in the future,” he explained.ETH Competitors Incur Greater Adoption Rates Although it does appear that Ethereum is still favored by most cryptocurrency investors – as it has the largest market cap of all cryptocurrencies besides Bitcoin – its competitors are swiftly incurring more developers and decentralized applications (dapps) that may ultimately allow them to pass Ethereum.In their report, Bloomberg notes that only “28 percent of dapps users were on the Ethereum network as of January, compared with 100 percent a year earlier.” The report further states that these lost users have mainly migrated to EOS, which currently accounts for 48% of users, and Tron, which accounts for 24% of users.Kling spoke about the migration of developers, users, and dapps away from the Ethereum blockchain, noting that it could ultimately prove to be “detrimental” to the crypto’s price.“To the extent that Ethereum competitor projects get traction with developers, with users, with dapps built on top of the platform, that will be viewed by the market as being detrimental to the overall value of Ethereum, and that can have a negative price impact on Ether,” he explained.As to why there has been a mass exodus away from Ethereum, Patrick Barile, the chief operating officer at DappRader explained that other protocols offer significantly faster transaction speeds, which leads to a better user experience.“The reason why they got so much adoption, those new protocols, is that they offer considerably better speed, transactions per second… The volume of transactions they can do is considerably higher. That means if you have a dapp, then you have a much better user experience,” Barile explained.Only time will tell as to whether or not Ethereum will ultimately win over dapps and developers, but regardless, the increasing number of competitors will likely push Ethereum to improve its platform.Featured image from Shutterstock.