Last week, Microsoft released more information about it’s “secret platform” that will create Ethereum based tokens. The report, released by Forbes, stated the software giant is currently undergoing preview and testing of the Azure Blockchain tokens, leaving many to wonder how this will affect ETH price. As of today, ETH jumped a little but how far will it go? YouHodler will take a deeper look behind the rumors and explain how to take full advantage of any possible price growth.
Microsoft and ETH onramps; Ethereum price could benefit greatly
Forbes states that the Azure Blockchain is aimed at enterprises and several have already started minting their own Ethereum based tokens. Currently, users will have access to a permissioned version of the Ethereum blockchain that will use Azure’s cloud computing to reach a consensus on transactions. That being said, in the future develops will use the Azure Blockchain on the public Ethereum blockchain. Hence, this will provide a massive onramp for ETH users. At least, that’s the theory.
Ethereum price; ETH market results following Microsoft news
Looking at the chart above, Ethereum price reacted slightly to the Microsoft news yet, we have yet to see a significant surge above the $200 mark.
We can assume there is no real short term impact on ETH at this point. However, the long term forecast could prove to be positive for Ethereum if Microsoft’s project lives up to the hype. To take advantage of this future price growth, YouHodler designed a unique tool for ETH multiplication. Here’s how it works.
Ethereum price growing soon? How to multiply ETH portfolio
YouHodler’s “Turbocharge Crypto” feature was specially designed for HODLers and traders to multiply their crypto portfolio using borrowed funds with the intent of profting later when the price of their chosen crypto increases. In this case, we will use the future Ethereum price growth as an example.