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.
To multiply ETH, simply log into YouHodler.com and click the “Turbocharge Crypto” button on the left hand side. Users are then brought to screen where they can choose how initial collateral they want to use and how many loans in the chain to pick (1-10). YouHodler then takes the initial funds from the first loan to buy more ETH and repeat the process as many times as the user chooses. Here is an example of what an ETH Turbocharged loan looks like with five loans:
At the end of the Turbocharge process, the user is left with ~ 40 ETH, four times the amount they started with. Then, when the price of ETH increases, the user keeps all the profits. To enhance this process, YouHodler also includes features like “Set Close Price” so the user has more control over when to close the loan.
With the potential Ethereum price increase coming, now is the good time to start increasing one’s ETH portfolio. YouHodler has the right tools for this task so visit us today at YouHodler.com to get started.