Will oracle capability bring ETH up to $500 by the end of the year?

08 Nov, 2018
by Arthur Sillers
Will oracle capability bring ETH up to $500 by the end of the year?

Ethereum might be posed for a breakthrough once it integrates oracle technology to its network according to one analyst, who predicts by the years end ETH will be trading at $500.

While Ether has seen some short term momentum in the past days, analysts see this as a short term surge, rather than a lasting bull run for the ETH token.

Nonetheless, there may be good reason to still be optimistic about ETH’s long term success. According to Forbes, analyst Ian McLeod predicts a ‘monumental’ breakthrough once Ethereum can accept outside data in its smart contract protocols.

He is referring to the oracle technology which Ethereum has been striving to integrate into its platform. Oracle is a protocol which allows outside data to be integrated into a blockchain without compromising decentralization. Chainlink has recently announced a partnership with the bZx network in an effort to bring this capability to the Ethereum network.

According to McLeod, this will soon have a huge effect on the price of Ethereum, with predictions running as high as a 100% increase by the end of the year, through massive increased adoption. This prediction has been met with mixed response, but efforts to bring oracle technology to Ethereum should be watched closely by anyone trading ETH.

Read more- Whale cautiously sends 1 ether before sending another 230,000...

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Read more about: Ethereum (ETH)


Can ETH trade at $500 by the end of the year?

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