Ethereum will reach $2K already in 2021. Reddit will help Cryptocurrency
Why the partnership of a popular website and a blockchain project is a landmark event for the industry and how it will affect the prospects for the development of Ethereum?
On January 27, the popular forum with built-in voting system Reddit announced a partnership with the Ethereum Foundation. The initiative aims to advance the scaling and development of technologies that are needed to run large decentralized applications.
The very fact of the partnership between Ethereum and Reddit is significant for the industry, analysts believe. They recalled how the other day, after reading about the promotion of the video game seller Gamestop on Reddit and in social networks, retail investors rushed to buy them. The Reddit community is able to exert a strong influence on market processes, and in the case of active integration and adoption of Ethereum products, this will “inevitably positively” affect the token rate, experts said.
It is important that Reddit will assist the Ethereum Foundation in solving the scalability problem. Partnering with a development team can help a project accelerate its evolution. Such cooperation is able not only to provide local support for the exchange rate, but also to open up prospects for the growth of cryptocurrency to the $ 2 thousand mark already this year.
2021 is definitely the year of Ethereum. It will have the launch of altcoin futures on CME, the development of the ETH 2.0 network, the boom in the decentralized finance (DeFi) sphere, and now a partnership with the service with over 1.3 billion views per month.
Last year, Reddit launched the Ethereum-powered Community Points app. For high-quality content, users could receive ERC-20 tokens. Therefore, the announcement of the partnership is a continuation and taking such projects to a new level. The news has already had a positive impact on the altcoin rate and will continue to push it up.