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“Significant event”. Analysts commented on Ethereum and Reddit partnership

On the evening of January 27, the popular forum with built-in voting system Reddit announced a partnership with the Ethereum Foundation. The initiative is aimed at promoting the scaling and development of technologies that are necessary to launch large decentralized applications, writes RBC Crypto.

The very fact of the partnership between Ethereum and Reddit is significant for the industry, says Viktor Pershikov, lead analyst at 8848 Invest. He recalled how the other day, after reading about the share of the video game seller Gamestop on Reddit and on 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 solving the scalability problem. Partnerships with the development team can help the project accelerate its evolution, added Pershikov. He emphasized 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, said 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 taking 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.

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