Something big is brewing with ETH?
Ethereum has outperformed bitcoin in the bear market and has outperformed btc since 2020.
The price of eth-btc pair has gone sideways while bitcoin has seen a decline of over 70-75% in the last year or so.
So what is going on with ETH? On- chain statistics say a story that is quite remarkable.
A networks ability to survive does depend on its transactions , because if no one using a crypto currency for transactions - it will die.
While bitcoin's everyday transaction count on average has remained stable for over 4 years at an average of 250k transactions a day, Ethereum has continued to out perform bitcoin by 4x the number. Ethereum transaction count during the same period has sky rocketed from 300k transactions to averaging over 1.2 million transactions per day for the last 2 years. Ethereum use in every single crypto product out there speaks its own value. source : glassnode.
Thus my opinion despite the bad news is that Ethereum is not to be under-estimated.
Bitcoins current world Marketcap is 384 billion dollars.
Ethereum is valued at almost 167 billion dollars.
Ethereum is already half as valuable as bitcoin, But Ethereum is still a risky bet - It is CENTRALIZED - its product has depended on the leadership and skills of Vitalik since its inception. The SEC can declare ETHEREUM a SECURITY at any time - which makes it a risky bet still. If Ethereum is recognized as such it will create a host of problems for the entire crypto economy.
It remains to be seen what happens next - If ETHER is OFFICIALLY recognized as a security by the SEC we can forget the flippening ever happening.
Whether this sideways movement is DISTRIBUTION or further accumulation, only time will tell. I own some small amount of Ethereum in case it ever moons, but not too much to be up at night worrying about the price.
What are your thoughts? do you think Ethereum will flip bitcoin or will ether be recognized as a security which will doom a much broader crypto eco system?
The price of eth-btc pair has gone sideways while bitcoin has seen a decline of over 70-75% in the last year or so.
So what is going on with ETH? On- chain statistics say a story that is quite remarkable.
A networks ability to survive does depend on its transactions , because if no one using a crypto currency for transactions - it will die.
While bitcoin's everyday transaction count on average has remained stable for over 4 years at an average of 250k transactions a day, Ethereum has continued to out perform bitcoin by 4x the number. Ethereum transaction count during the same period has sky rocketed from 300k transactions to averaging over 1.2 million transactions per day for the last 2 years. Ethereum use in every single crypto product out there speaks its own value. source : glassnode.
Thus my opinion despite the bad news is that Ethereum is not to be under-estimated.
Bitcoins current world Marketcap is 384 billion dollars.
Ethereum is valued at almost 167 billion dollars.
Ethereum is already half as valuable as bitcoin, But Ethereum is still a risky bet - It is CENTRALIZED - its product has depended on the leadership and skills of Vitalik since its inception. The SEC can declare ETHEREUM a SECURITY at any time - which makes it a risky bet still. If Ethereum is recognized as such it will create a host of problems for the entire crypto economy.
It remains to be seen what happens next - If ETHER is OFFICIALLY recognized as a security by the SEC we can forget the flippening ever happening.
Whether this sideways movement is DISTRIBUTION or further accumulation, only time will tell. I own some small amount of Ethereum in case it ever moons, but not too much to be up at night worrying about the price.
What are your thoughts? do you think Ethereum will flip bitcoin or will ether be recognized as a security which will doom a much broader crypto eco system?
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