On the evening of January 27, the popular forum with built-in voting system Reddit announced a partnership with the Ethereum Foundation. The initiative aims to advance the scaling and development of technologies that are required to run large decentralized applications.
The very fact of the partnership between Ethereum and Reddit is significant for the industry, says Viktor Pershikov, a leading analyst at 8848 Invest. He recalled how the other day, after reading about the share of the seller of video games Gamestop on Reddit and in social networks, retail investors rushed to buy them. The Reddit community is able to exert a strong influence on market processes, and in the case of active integration and adoption of Ethereum products, this will “inevitably positively” affect the token rate, the expert emphasized.
It is important that Reddit will assist the Ethereum Foundation in addressing the scalability issue. Partnership with the development team can help the project accelerate the process of its evolution, added Pershikov. He stressed that such cooperation is capable not only of providing local support to the exchange rate, but also opening up prospects for the growth of cryptocurrency to the level of $ 2 thousand already this year.
2021 is definitely the year of Ethereum, noted Maria Stankevich, EXMO Exchange Development Director. It will have the launch of altcoin futures on CME, the development of the ETH 2.0 network, the boom in the decentralized finance (DeFi) sphere, and now a partnership with the service with over 1.3 billion views per month.
Last year, Reddit launched the Ethereum-powered Community Points app. For high-quality content, users could receive ERC-20 tokens. Therefore, the announcement of the partnership is a continuation and bringing such projects to a new level, said Stankevich. According to her, the news has already had a positive impact on the altcoin rate and will continue to push it up.
