Ethereum lagged in active dapp users in Q2, but its price doubled – here’s what happened

Fibo Quantum

If you’ve been interested in cryptocurrency and blockchain for anything more than a week, you’ll almost certainly know about Vitalik Buterin’s Ethereum ETH platform. But if you don’t here’s a quick recap on what Ethereum is.

Ethereum’s creators wanted to build a platform that would allow users all over the world to write decentralized applications, and use the Ethereum blockchain as what it calls a “world computer.”

Ethereum made smart contracts a common part of the blockchain conversation. Smart contracts are programming tools that let developers write self-executing scripts that run on the Ethereum blockchain. When these scripts are executed, the computing nodes are compensated for their work in Ethereum’s native token, Ether.

With every passing month, the Ethereum community looks forward to ETH 2.0, a series of updates and improvements designed to make the platform faster and more reliable. ETH 2.0 won’t be implemented overnight. In fact, it’s a series of updates that will begin being implemented in January 2020. As we make it into the second half of the year, you can be sure that Ethereum’s transition to a Proof-of-Stake model will be discussed at length.

One of Ethereum’s founding members, Joseph Lubin, has said that the updates should make Ethereum far more scalable within the next 24 months.

Before we take a look at what happened in Q2, let’s remind ourselves of how Ethereum started the year.

Ethereum/USD Q1 performance recap

The first quarter of 2019 was uneventful for Ethereum’s price. Its trading price was stable, and its price swings were notably more conservative than most investors would be used to.

ETH opened 2019 at $137, and a brief rally saw its trading price reach $156 by January 7. This was the highest price for Ethereum across the whole quarter.