As a seasoned analyst and long-time observer of the crypto market, I find myself consistently drawn to Ethereum (ETH) due to its remarkable potential for growth. My journey began back when Ether was just a blip on the radar screen, and I’ve witnessed firsthand how it has evolved into an indispensable pillar of the blockchain ecosystem.
An experienced, anonymous DeFi analyst who uses the handle @FigoETH on X platform discusses his optimistic outlook for Ethereum (ETH) in the long term. He presents eight arguments to challenge the negative sentiment towards ETH that has arisen due to Uniswap’s forthcoming launch of its own blockchain.
Innovations, retail, big tech, dApps: Analyst on catalysts for ETH
As a keen analyst in the cryptocurrency space, I find it crucial to highlight the ongoing growth and development within Ethereum (ETH) technology and ecosystem. Instead of voicing complaints, I believe it’s more productive for us all to recognize that Ethereum continues to strengthen with each passing day. Let me share some developments, as outlined by DeFi enthusiast @FigoETH, which have ignited my optimism regarding the potential of the second cryptocurrency:
Initially, the surge in Eigenlayer’s (EIGEN) restaking infrastructure has sparked a wave of technological advancements for Ethereum (ETH), including data availability layers, on-chain oracles, trustless bridges, and more. These next-gen L2 solutions are expected to boost Ethereum’s transaction capacity beyond 100,000 per second and ensure smooth compatibility with competing ecosystems outside the EVM, promoting interoperability.
Over time, the participation of prominent asset managers like Blackrock and tech giants from the Web2 era such as Sony and Samsung in employing Ethereum (ETH) technologies continues to escalate.
Conversely, Coinbase consistently attracts individual investors towards Ethereum (ETH), particularly when the cost of transactions on the blockchain is minimal.
Indeed, platforms such as Polymarket and Farcaster, which are widely recognized as decentralized applications (dApps), have successfully bridged the gap between their offerings and the demands of internet users. They now cater to genuine, everyday requirements of web users worldwide.
Previously mentioned in U.Today, Uniswap’s (UNI) announcement of launching its own blockchain on the Optimism OP Stack has caused certain individuals to express pessimistic views about Ethereum as a valuable asset.
Ethereum (ETH) still years ahead in L2s race
The opportunity to collect fees in UNI (and, therefore, in any other token for future protocols of this type) is a signal of the coming irrelevance of Ether as the main gas currency for DeFi.
As a crypto investor, I’ve noticed concerns being raised about Ether due to reduced transactional activity. Critics argue that this diminishes its ability to maintain its deflationary status, as burn rates are falling dramatically. This means that the “Ultra Sound Money” narrative, which emphasizes its scarcity and stability, may no longer hold true.
Nevertheless, FigoETH asserts that Ethereum (ETH) remains significantly ahead of competitors even in the layer-two scaling solutions (L2s). Consequently, all underlying aspects appear optimistic for Q4, 2024.
Ethereum (ETH) is changing hands at $2,444 with 1.3% overnight gains.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- VANRY PREDICTION. VANRY cryptocurrency
- USD CLP PREDICTION
- USD ZAR PREDICTION
- USD PHP PREDICTION
- NXRA PREDICTION. NXRA cryptocurrency
- Best 6-Star Characters In Bleach: Brave Souls
2024-10-12 14:28