The post Ethereum’s 2017 run was legendary; Elluminex aims to be next appeared on BitcoinEthereumNews.com.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As crypto markets hit new highs, Ethereum lags behind, prompting traders to look to Elluminex for the next big breakout. Crypto markets are heating up, with multiple assets reaching all-time highs. However, Ethereum has seen relatively slow growth. But, in 2017, the situation was different. At the time, Ethereum saw a huge rally, rivaled only by Bitcoin’s strong growth.  Fuelled by massive adoption, tech advancements and the ICO boom, Ethereum grew tremendously. This secured it the second spot among all crypto assets. Now, traders are looking for the next token that can replicate Ethereum’s early success. Most recently, some are looking at Elluminex.  Ethereum rose 17,000% during 2017 rally Ethereum’s 2017 bull run was one of the biggest market rallies in crypto history. At the time, in January 2017, Ethereum (ETH)  traded at just $8. Fast forward to January 2018, the token was at $1,400. This growth amounted to a stunning 17,000% increase in just one year.  Several factors made this growth possible, including both its fundamentals and market dynamics. Critically, Ethereum underwent a revolution in smart contract functionality. The network introduced tools that would let developers build complete decentralized applications (dApps). This uncovered many use cases for the network, bringing developers and users to the chain.   For that reason, the crypto space saw an Initial Coin Offering (ICO) boom, as developers issued tokens for their dApps. Moreover, smart contract functionalities of the chain enabled traders to easily launch their own tokens. This brought unprecedented levels of crypto projects to the Ethereum ecosystem. The explosion of crypto projects brought significant capital, boosting Ethereum’s price and network Total Value Locked (TVL).  For both these reasons, Ethereum became the default network…

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Filed under: News - @ January 21, 2025 8:20 pm