intermediate
Since the beginning of this year, a great number of significant changes have happened in the crypto world. One of the latest ones – the largest cryptocurrency distribution in the world for a long time, was provoked by the launch of the main EtherLite network on May 1.
What Is EtherLite (ETL)?
EtherLite is a side chain of the Ethereum network. As any other crypto ETL works separately from a central bank or single administration. The ETL coins can be mined by users.
EtherLite was designed to become a solution to the existing issues of the ETH network: blockchain scalability, incredibly high gas fees, and slow transaction throughput. Due to that, the main goal of the EtherLite project is to create an ecosystem for apps and businesses that is more efficient, less costly, scalable, fast, and secure.
One of the significant features of the newly born currency is that it is fully compatible with Ethereum Virtual Machine (EVM). This means that developers can also use their decentralized apps (dApps) and smart contracts built on Ethereum on EtherLite. EtherLite makes it easy for them to “port their existing ETH-based dApps in a matter of minutes,” according to the project’s website.
In addition, new features such as interoperability, instant finality of transactions, pure PoS consensus, and support of dApps across the decentralized ecosystem are implemented into the EtherLite blockchain. A Proof-of-stake Ethereum hard fork focused on scalability, reliability, and accessibility.
ETL is the EtherLite network’s native coin. It is used for network maintenance and paying the network fees. The Ethereum’s side chain token has some core functionalities:
Due to the usage of a Proof-of-Stake protocol, ETL coins are required to the network. Validator nodes are required to stake a minimum of 100,000 ETL and in return, validators will receive rewards and fees for their service.
The EtherLite network’s high throughput, low commissions, and fast transaction speed make the ETL token a perfect means of payment.
ETL is used to pay for general network fees, such as transaction fees to access and support network operations.
Along with the network fees, rewards in the EtherLite ecosystem are distributed using ETLs.
Differences between Ethereum and EtherLite: ETH vs. ETL
ETH cryptocurrency is more stable crypto in comparison with ETL, which definitely has the potential to grow in price, just needs more time to do so.
Read also: Ethereum (ETH) Price Prediction
EtherLite is a hard fork of Ethereum, which is aimed to sustain an uninterrupted network operation for smart contracts, DeFi, non-fungible tokens (NFTs) and more. While there is only one Ethereum, EtherLite has the advantage of hindsight. It boasts features such as:
Speed: The EtherLite network has block times of five seconds and more than 10,000 transactions per second.Low fees: High fees on ETH caused some creators and developers to move to other blockchains with lower commissions.Staking: Users can stake their ETL on staking.etherlite.org to help maintain network security in exchange for rewards. Ethereum blockchain is transitioning from a proof-of-work (PoW) to a PoS consensus model.
However, a common feature for both Ethereum and EtherLite is that they can be bought with any physical currency directly at the Changelly PRO platform. Now you can easily get some ETL coins with USDT using your credit card. Buying crypto has never been so simple!
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Technical Analysis of EtherLite
EtherLite has a max supply of 21,000,000,000 coins. The ETL price went to a record high of $0.888139 2,5 months ago.
The EtherLite token (ETL) began trading at a price of $0.2495 per coin. However, after a while, ETL price has increased by more than 300% within a few hours. The EtherLite price has gone sky-high recently. The rally took form after the cryptocurrency was introduced to crypto exchanges. At the end of June, the coin rate started to sink rapidly. It hasn’t managed to regain its momentum and the current EtherLite price is $0.036.
EtherLite Price Forecast 2021
Below is a chart of future possible growth of the EtherLite price for 2021, based on the forecasts of trusted analytical sources.
EtherLite Price Prediction 2022
Analytical portals agree that, in general, the cryptocurrency has a tendency and, what is more significant, potential to grow. However, they do not predict that these changes will happen rapidly. For instance, Digital Coin Price writes that by January 2022, the EtherLite price will be about $0.07573. The table with the average possible ETL price in 2022 is presented below.
EtherLite Price Prediction 2025
ETL might resume the trade at $0.13816 at the start of January 2025. The EtherLite price might reach new heights in case it manages to grab the attention of the investors. The token might decline to $0.09638 if the crypto comes across supply pressure. By the end of 2025, the altcoin might be trading at $0.11121.
EtherLite Price Prediction 2030 – 2035
Taking into account the impressive growth and a fairly serious decline, it may not be easy to make an unambiguous forecast for EtherLite (ETL). If the growth rate of the cryptocurrency remained the same, then by 2030 the price of the token would have probably been around $0.15651.
For a long-term analysis of the EtherLite price — 10 years or more – it is necessary to take into account many factors, such as the global crisis, inflation of fiat currencies, etc. Analysts rarely undertake to calculate the likely exchange rate of cryptocurrencies for a long term. Nevertheless, most experts are positive about ETL. Perhaps, thanks to the development of technologies, in the next few years, the exchange rate of this cryptocurrency will be able to update the historical maximum.
Is EtherLite (ETL) Profitable Investment?
Like any other cryptocurrency, EtherLite is part of an extremely volatile market, therefore, its growing popularity should not affect investors’ decisions. If a crypto enthusiast wants to invest in ETL, he or she should carefully study projects that use its smart contract capabilities for the EtherLite network, as well as its growth relative to market share. As with other assets, you should evaluate all risks properly, do your own research (DYOR) and invest only the sum of money that you are not afraid to lose. Remember that the cryptocurrency market is characterized by high volatility, that’s why it is of vital importance to keep up with the latest news of the crypto world. And if EtherLite price increase significantly in the future you will be the first to get money from the profitable investment.
Should I Buy EtherLite (ETL) Now?
Since the cryptocurrency market is extremely volatile and difficult to predict changes in the long term, studying the dynamics and historical data of EtherLite is crucial before making a decision about investing some amount of money for the long term.
Can EtherLite Reach $1?
Most of the EtherLite future price forecasts suggest that it will take quite a long time for ETL to exceed the $1 mark. However, the probability that the price may rise in the future is quite high. Everything will depend on the mood in the cryptocurrency markets.
Can EtherLite Reach $5?
Both fundamental and technical analyses show good potential for the ETL token to move up. However, EtherLite, like any other crypto asset, is a very volatile instrument and requires careful consideration before opening a transaction.
* Our predictions are made on the basis of open-source Historical Data. We are not responsible for any profit/loss. All materials are published for informational purposes and should not be considered investment advice.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
Source: https://changelly.com/blog/etherlite-price-prediction/
