New Delhi: Amid the recent turbulence in crytocurrency markets and vast pool of about 7,000 digital currencies including Bitcoin, Dogecoin, Shiba Inu, Ethereum, the latter is fast emerging as a promising and rewarding cryto.
Where most popular crypto Bitcoin remains saddled with issues like high energy consumption, carbon emission and increasing pollution levels, Ethereum is relatively a ‘green coin’ and stands out among all in terms of controlling pollution.
According to reports, Bitcoin requires 707 KWh of electricity, while Ethereum comes at 62.56 KWh. In contrast, Ethereum 2.0 will be exceptionally efficient.
Ethereum price jumps 1187% in a year!
What’s the most mystifying fact about this currency is sharp jump in its price and value in last 1 year. Its value jumped exponentially about 1187.3% in past year. And, this provides the crypto with a market valuation of about
$313.9 billion.
Ethereum is a blockchain-based platform for developing decentralized apps and smart contracts. Ether is the native cryptocurrency used for all the transactions on Ethereum’s blockchain.
It is the second most valuable currency in the world after Bitcoin. It was created in 2015 by Vitalik Buterin. Ethereum is also considered more than just a digital currency. In India, Ethereum is a big hit among traders as the country is home to one of the biggest IT hubs in the world.
Ether buying trends in India; Tamil Nadu is biggest holder
BuyUcoin, a cryptocurency exchange recently conducted a survey among its 1,14,000 users threw up interesting Ether buying pattern in India.
Key findings of the Survey:
1. Tamil Nadu wins hands down when it comes to Ethereum purchase. According to survey figures, maximum Ethereum trade is done in Tamil Nadu with figures accounting for 20.16%, followed by Maharashtra with 15.83%, Karnataka 9.27%, Delhi 8.99% and Uttar Pradesh 7.90%.
2. Delhi and Uttar Pradesh account for more than 16% of Ethereum traders
3. Female traders are more than 14% showing a 780% Growth per Year. Male traders are more than 85% showing a 3482.32% Growth per Year
4. People with age group in 25-34 range are investing most into Ethereum and while age group 18-24 coming to close second.
Age Group 25-34 : 36.04%
Age Group 18-24 : 29.36%
Age Group 35-44 : 17.36%
Age Group 45-54 : 8.89%
Age Group 55-64 : 4.86%
Age Group 65+ : 2.95% trade
5. More than 62% investors are centered in 5 states namely Tamil Nadu, Maharashtra, Karnataka, Delhi, and Uttar Pradesh
“All the data shows that Ethereum is not too behind bitcoin in its popularity and its usability and features of smart contract are certainly an added feature which amount its popularity among the developer community, Ethereum is benefiting from the popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs), which heavily utilize its blockchain ecosystem,” the survey said.
