MyEtherWallet Launches Ethereum Staking

MyEtherWallet has long been trusted as one of the first-ever Ethereum wallets available to the public. Now, investors in the Ethereum blockchain are going to trust it with staking. That’s because MyEtherWallet and its accompanying app are going to allow users to earn interest on their Ethereum holdings in multiples of 32.

Is Ethereum Staking About to Send the Price Skyrocketing?

Many pundits are predicting that Ethereum is about to rise in value significantly. One influencer in particular has been bullish on the cryptocurrency lately. That’s Ivan on Tech. Ivan is a big-time influencer on YouTube with over 276,000 subscribers. He points to the fact that Ethereum is exhibiting bullish signals and that a move to the $1,000 USD mark is inevitable. He believes technical analysis favours such a move and that the new staking rewards system on the blockchain will be a driving force behind Ethereum’s price in the not-too-distant future. There’s a good reason he may be right.

Many Investors In Other Altcoins Are Doing Nothing but Staking

There are many altcoin projects out there trying to steal Ethereum’s thunder both in terms of the development of decentralized applications and in terms of offering better staking rewards or just a better proof-of-stake mechanism in general.

Here’s the problem. Many of those projects don’t have the number or scope of decentralized applications living on them that Ethereum does. This means most other blockchains that offer staking rewards are seeing an insane number of their tokens collecting those staking rewards rather than being used to fundraise for new applications or being used to pay fees back to the network.

Tezos for example is seeing 80% of its coins being staked through validators. That makes sense because there aren’t that many projects currently living on the Tezos blockchain. What does that mean for Ethereum?

Why Ethereum Will Rise in Price

Ethereum is definitely going to go up in price and staking is going to have something to do with it. That said, the Ethereum blockchain dominates the world of decentralized applications.

StateOfTheDapps.com allows you to take a look at the most popular projects on the Ethereum blockchain. You can see for yourself the volume that moves through these projects. It’s significant. It’s what gives Ethereum its fundamental value.

Combine staking with the fact that Ethereum is obviously proving itself to be useful in building real-world applications and it’s obvious that it’s undervalued. Here’s the thing. Institutional investors haven’t caught up to that idea yet, but now that Bitcoin has ballooned in value over the last nine months, those institutional investors are going to start to look for value elsewhere in the crypto world, and realistically, Ethereum is the first place they’re going to look.

That’s why there’s no better time than right now to sign up for a free account at Netcoins and get your hands on some Ethereum tokens. Netcoins is Canada’s first publicly owned crypto trading platform to be fully regulated. Simply create an account with Netcoins, fund it with an e-Transfer (more funding options available) and head to the trade page to buy ETH. Sign up today! If you’re fortunate enough to be able to buy 32 of them, you can now stake them through one of the first and most trusted Ethereum wallet solutions out there today, MyEtherWallet.