Ethereum Improvement Proposal (EIP) 1559 is officially approved!
Ethereum ETH is trading at support. Lose the 1500 and we have buying opportunities lower. Break 1600s and we're back off to the races to retests $2K. Short term the popularity of ETH has created the high transaction, aka gas, fees, on Ethereum. High fees have driven down sentiment with reason. Will hot new kids DOT, ADA and LINK overtake ETH??? Probably not but DeFi is growing in a side experiment closed ecosystem called Binance BNB. It's a great short term trade if you want the crypto trading pairs.
Longer term, open, decentralized, ETH2 is happening this year. Why would one bet on Binance long term when you can bet on Ethereum not controlled by a single organisation? Is Binance controlled by Malta? Is Malta part of the EU? Who controls Binance?
EIP 1559, the interim solution is happening in the London release (fork). Meanwhile, miner replacement for lower fees, validators need to lock up 32 ETH to become validators on ETH
The future is friendly. Anything under $2K USD for ETH will seem cheap very soon.
Bitcoin might become the store of wealth, ETH might become the workhouse with a now programmed way to ensure the supply dwindles with transactions creating a constant upwards pressure for ETH starting in July 2021, four months from now.
As Bitcoin continues to stay inefficient without L2 lightning, ETH has a real world dominant use case with a solid, well supported, road map.
Watch the ETHBTC pair for confirmation on this thesis..
PS There is room for both and some others....
Longer term, open, decentralized, ETH2 is happening this year. Why would one bet on Binance long term when you can bet on Ethereum not controlled by a single organisation? Is Binance controlled by Malta? Is Malta part of the EU? Who controls Binance?
EIP 1559, the interim solution is happening in the London release (fork). Meanwhile, miner replacement for lower fees, validators need to lock up 32 ETH to become validators on ETH
The future is friendly. Anything under $2K USD for ETH will seem cheap very soon.
Bitcoin might become the store of wealth, ETH might become the workhouse with a now programmed way to ensure the supply dwindles with transactions creating a constant upwards pressure for ETH starting in July 2021, four months from now.
As Bitcoin continues to stay inefficient without L2 lightning, ETH has a real world dominant use case with a solid, well supported, road map.
Watch the ETHBTC pair for confirmation on this thesis..
PS There is room for both and some others....
Comment:
Broke 1600 resistance upwards, next short term retest of resistance at 1650-1666. Bullish trend resumes until we near the $2000s again. With Ethereum with wind in its sail for ETH 2, open community validators replacing miners to confirm transactions and protocol improvements, slow and steady, ETH is interesting to watch as one of the three primary coins in the digital currency world.
Comment:
Why this Ethereum Protocol change can easily push ETH to $5K in no time. The July 2021 change, just months away, apparently will see ETH miners get exclusively paid in ETH for transactions. Today, these poor folks can get paid USDTor other unstablecoins shitcoins. Like USD/Tether ... that's a crapto digital printing press on a fiat printing press.