“Ethereum Killers” and blockchains of blockchains have been very hot in September.
Gas Fees, NFTs, Proof of Stake, and Gaming drive massive market gains. What makes these projects special?
Media attention in the crypto space has been at an all time high in 2021. Cryptocurrency miners have been riding the wave of blooming Ethereum markets. The price of gas fees for validating transactions on the Ethereum network continues to rise. Eth 2.0 looking to arrive in January of 2022 to hopefully bring everyone using the network relief.
Gas fees for Ethereum transactions in the last 30 days.
What makes these projects so special in a time like this? The ability to handle large quantities of transactions without negative impacts to consumers. A very early NFT market on OpenSea struggles to maintain a large user base in high volume. Users, Host Nodes, Miners, Stakers and everyone in the crypto space look for a solution.
Hedera Hashgraph 88.79%, Elrond 71.55%, Tezos 58%, Algorand 48%, ATOM 55.51%, Mina 52.54%, Tron 31.43%, Avalanche 29.58%, Polkadot 29.53%, Harmony 25.60%. This is how much medium cap coins have been exploding this week. Solana carried a whopping 10x in a month to having a complete 3 hour network stop this week. Solana continued to go down 10% this week retracing to around $157. These projects show a combination of solutions to current Ethereum problems. Reduced fees, promising blockchain futures, lively NFT marketplaces, automatic income to holders, this is just a list of solutions.
The gains markets tie to attention around Ethereum’s current challenges. Network traffic goes elsewhere if users refuse a $200 gas fee. “Choosing the most unbearable problem and investing in it seems to be the strategy.” – Anonymous. /r/Cryptocurrency Redditor comments.