In the next 180 days, let your focus become your compass, guiding you through the crypto storm of distractions toward the shores of your PnL. While Media is focused on Boring Bitcoin, let’s be mindful that the depth of your attention on ETH and the other ALTS will transform your dreams of a healthier PNL, into realities. Wake up.
Ethereum’s Staking Rate has soared past 30%, signaling that confidence in its long-term success is rising in the shadows. While the narrative is around the arrival of the ETF, it’s essential to know the other elements that will affect its price in the coming 180 days.
Smart Contracts, for example, have just blown the door off at around 38% increase in ETH usage, which, from a financial perspective, means most holders, investors, and even traders are locking their ETH up rather than cashing it out.
Have I given you a massive hint about what you’re supposed to do with your ETH? Yes, I have. I will provide you with another huge hint. ETH reserves of Exchanges are evaporating.
Even Blackrock, the wealthiest, most organized, respected, and influential company to have existed so far in the world, not only has massive plans for ETH, which was made very public with their partnership with Coinbase ( Americans most favored Exchange and one of the largest crypto exchange in the world, by building something extraordinary on ETH. Read other Articles for that gold nugget. When you know, you know.
All in All, what does all this mean? Well, as I mentioned back in Q2 2023 ( go back and read it ), don’t sleep on ETH because the combination of an ETF, layer 2 builds, and staking opportunities will cause traders’/investors’ reserves to deplete, which means the appetite for demand will rise. Destination MOON: grab a helmet. ( 8-12K incoming )
So, you’re still peddling your PNL Growth on Bitcoin. In that case, you’ll probably miss the ALTCOIN Market altogether, which baffles me today. The simplicity of it is that unless your trading positions are in the hundreds of thousands, you should bother with Bitcoin. The Joys will be limited, but the pain will be limitless.
Meanwhile, on ETH, There are over 5 million weekly active wallets on Layer 2s. If this doesn’t rock your mind, I don’t know what will.
If I still have you at this point, it’s also time for me to bring up the BASE PROTOCOL, which is currently causing a buzz because of its record-breaking DEFI activity. I’m not telling you to invest, of course, but I would be disappointed if it wasn’t even on your watch list.
Look, how do I put this? In the last 72 hours, it has surpassed all the other Layer 2s by a daily transaction count of 1 billion, give or take a couple hundred thousand.
Is BASE the new ETH? Please don’t be stupid, but maybe it’s the new SOL, and it’s worth exploring 100%. Wake up.
But that’s enough on ETH, and while I’m super keen to discuss MEMES, too, I’m starting to feel directed to talk about that in a later Article. So, let’s jump to LINK.
As the name suggests, Chainlink ( LINK ) is a vital piece of the crypto asset class, and the project is currently in flight to rebrand SWIFT’s uncertain future.
As an experienced Executive in the Investment/Hedge fund/Commodities space, I am particularly invested (with all the meaning the word carries with it—socially and economically) in LINK because of its work with SWIFT.
SWIFT is the shortened form of the Society for Worldwide Interbank Financial Telecommunication. It is a global network that banks and other financial entities use to send and receive information. It has 11,000 members and 200 countries/territories, and the transaction value transacted reaches trillions of dollars.
With most thinking it would be Ripple or the delusional XRP be the one to take over the SWIFT region as the new institutional first choice in financial communication, it appeared that the collaboration of Chainlink (LINK) would give SWIFT the lifeline for which they seek with the WEB3.
So look out for this partnership because, with an all-time high of $52 and nowhere near the number of partnerships it has today, LINK needs to be allowed to approach prices that are near the overinflated price of three years ago. However, it does have more competition than it did in 2021.
As I conclude my ETH Rapsody, I reference the title of this piece, where ‘STAKING RATES INFLATE, ETHEREUM’S FATE’ serve as the direction I wanted to deliver.
This journey through Ethereum’s evolving landscape, from staking surges to strategic partnerships, reinforces the belief that Ethereum is not just surviving the crypto storm but thriving in it. The inflated staking rates are not merely numbers; they represent the growing faith in Ethereum’s long-term value and its pivotal role in the crypto ecosystem.
If you need more proof. Read what I wrote back in October 2023. ‘ ONE SMALL STEP FOR BITCOIN, ONE GIANT LEAP FOR ETHEREUM. I told you it would happen.
