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Friends, fundamentally things could not be looking any better for Ethereum.
The good news goes on & on - as I have not even gone over ZK Rollups, Scaling, Sharding etc.
Scarcity + Demand = Prices Rising
So what does all this mean fundamentally? Due to the burning mechanism in the protocol - with heavier adoption their is more burn. More burn means more scarcity. Inflation increases supply, this protocol decreases the supply through swaps. With central banks and 9 TRILLION moved on chain from USDC alone (not even accounting for DAI, USDT, or BUSD - the Binance stable coin is a also an ERC-20 token) adoption is rising We will see more stable coins continuing to increase adoption resulting in more eth burning.
When it comes to price:
Deflation>Inflation
Adoption is growing on this network. There is real value, there is real TVL.
Since the merge...
-->BTC Supply GREW by 110 BTC (2.5B)
--> ETH Supply SHRUNK by 2,830 ETH (4.5M)
Bitcoin/Ethereum Commentary
If you have made it to this point, please let me know your thoughts!
If I am missing a key piece of information, or you find something shared as inaccurate, please point it out so the whole TradingView community can benefit from it.
Citation
1 - https://www.bloomberg.com/news/articles/2021-06-23/bank-of-israel-to-use-ethereum-tech-for-digital-shekel-globes
2 -https://www.rba.gov.au/media-releases/2021/mr-21-30.html
3 - https://www.centralbanking.com/fintech/cbdc/7953265/israel-norway-and-sweden-to-link-cbdcs-in-bis-project
4 - https://www.investing.com/news/cryptocurrency-news/circles-usdc-reserve-fund-hits-434-billion-blackrock-now-manages-30-of-the-fund-2976260
5 - https://www.circle.com/en/euro-coin
6 - https://uniswap.org/blog/uniswap-circle-foreign-exchange-defi
7 - https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain
8 - https://www.tradingview.com/news/cryptonews:0ea416106094b:0-ethereum-will-soon-have-100-million-addresses-with-non-zero-balance-what-this-milestone-means-for-eth-price/
9 - https://www.bloomberg.com/news/articles/2022-05-17/china-makes-a-comeback-in-bitcoin-mining-despite-government-ban
10 - https://ultrasound.money/
- Multiple Central Banks are now building on Ethereum infrastructure. (1)(2)(3)
- Treasury Tokenization thanks to Blackrock (will increase TVL) (4)
- Circle launching a Euro Stable Coin - which will increase adoption. (5)
- Additional stable coins to follow!
- Uniswap entering the FX market, slashing costs by a projected 80%! (6)
- European Investment Bank (EIB) launches successful digital bond on Ethereum Blockchain (7)
- Ethereum crossing over 100 million unique wallets (8)
- Ethereum has more developers working on it then any other chain, with 16% of all new entrants building on ETH
- Ethereum validators surged to 500,000! Shanghai upgrade is not even out yet.
- The ETH protocol is not censor resistant, so while there are many OFAC-compliant blocks- validators are not forced to comply.
- ETH is ESG Friendly, while Bloomberg warns Bitcoin is still being powered by China Coal (bad optics with energy prices in Europe recently) (9)
- ETH is deflationary (Bitcoin & the USD are INFLATIONARY) (10)
The good news goes on & on - as I have not even gone over ZK Rollups, Scaling, Sharding etc.
Scarcity + Demand = Prices Rising
So what does all this mean fundamentally? Due to the burning mechanism in the protocol - with heavier adoption their is more burn. More burn means more scarcity. Inflation increases supply, this protocol decreases the supply through swaps. With central banks and 9 TRILLION moved on chain from USDC alone (not even accounting for DAI, USDT, or BUSD - the Binance stable coin is a also an ERC-20 token) adoption is rising We will see more stable coins continuing to increase adoption resulting in more eth burning.
When it comes to price:
Deflation>Inflation
Adoption is growing on this network. There is real value, there is real TVL.
Since the merge...
-->BTC Supply GREW by 110 BTC (2.5B)
--> ETH Supply SHRUNK by 2,830 ETH (4.5M)
Bitcoin/Ethereum Commentary
- I have had angry direct messages in the past advising how Bitcoin is PROTECTION against inflation, how could it inflate if the supply is capped?
- Even with a capped supply that will be targeted in 140 years (generations) the BTC inflation rate is +1.716%/year.
- To make the situation graver - the miners create constant selling pressure powering the energy intensive network, coupled with physical hardware that has to be purchased & maintained. This equates to costs.
- To pay for costs, miners must sell bitcoin to keep the network safe - creating constant selling pressure.
If you have made it to this point, please let me know your thoughts!
If I am missing a key piece of information, or you find something shared as inaccurate, please point it out so the whole TradingView community can benefit from it.
Citation
1 - https://www.bloomberg.com/news/articles/2021-06-23/bank-of-israel-to-use-ethereum-tech-for-digital-shekel-globes
2 -https://www.rba.gov.au/media-releases/2021/mr-21-30.html
3 - https://www.centralbanking.com/fintech/cbdc/7953265/israel-norway-and-sweden-to-link-cbdcs-in-bis-project
4 - https://www.investing.com/news/cryptocurrency-news/circles-usdc-reserve-fund-hits-434-billion-blackrock-now-manages-30-of-the-fund-2976260
5 - https://www.circle.com/en/euro-coin
6 - https://uniswap.org/blog/uniswap-circle-foreign-exchange-defi
7 - https://www.eib.org/en/press/all/2021-141-european-investment-bank-eib-issues-its-first-ever-digital-bond-on-a-public-blockchain
8 - https://www.tradingview.com/news/cryptonews:0ea416106094b:0-ethereum-will-soon-have-100-million-addresses-with-non-zero-balance-what-this-milestone-means-for-eth-price/
9 - https://www.bloomberg.com/news/articles/2022-05-17/china-makes-a-comeback-in-bitcoin-mining-despite-government-ban
10 - https://ultrasound.money/
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