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Golden Observation | Ethereum in the eyes of mainstream institutions: Ethereum may surpass Bitcoin



In 2021, the development of Ethereum is impressive.

According to AssetDash data, the highest market value of Ethereum has risen to the 14th place in global assets, surpassing JP Morgan Chase, Bank of America, Paypal, and approaching VISA. Currently, it ranks 27th, with a market value of 295.4 billion US dollars.

Meanwhile, the ratio of Ethereum’s market capitalization to Bitcoin’s market capitalization has doubled over the past year. Ethereum accounts for 18.3% of the total market capitalization of the entire cryptocurrency market, while Bitcoin’s dominance has dropped to 43.8%. the

Obviously, with the continuous expansion of the application of Ethereum, the status of Ethereum is not what it used to be. Next, follow us to see Ethereum in the eyes of mainstream institutions.

On May 25, Todd Morley, founder of Guggenheim Investment Company, said in an interview with Bloomberg TV that the utility of Ethereum is "much higher" than Bitcoin. He believes that any industry without a digital technology strategy will "go bankrupt". Ethereum’s application developers have grown at a rate of 20 times for six consecutive years, and its large-scale deployment of utility functions and asset access “has not happened yet, and hopefully it will be the leader in this regard.”

Jinse Finance mining data broadcast | BSV’s network computing power rose by 5.22% today: Jinse Finance reported that according to the data of the spider mining pool:

The computing power of the entire ETH network is 176.226TH/s, the mining difficulty is 2232.10T, the current block height is 9925609, and the theoretical income is 0.00808270/100MH/day.

The computing power of the BTC network is 109.990EH/s, the mining difficulty is 15.96T, the current block height is 627219, and the theoretical income is 0.00001575/T/day.

The BSV network computing power is 1.430EH/s, the mining difficulty is 0.22T, the current block height is 631785, and the theoretical income is 0.00062922/T/day.

The computing power of the BCH network is 1.798EH/s, the mining difficulty is 0.25T, the current block height is 632007, and the theoretical income is 0.00050055/T/day. [2020/4/23]

Investment banking giant Goldman Sachs recently stated in its "Global Macro Research" report that Ethereum is likely to replace Bitcoin as the dominant store of value given the importance of practical use in determining the store of value. The Ethereum ecosystem supports smart contracts and provides a way to create new applications on top of its platform. Most DeFi applications are built on the Ethereum network, and most non-fungible tokens (NFTs) issued are purchased using Ethereum. Ethereum has a larger number of transactions compared to Bitcoin, an advantage that is more reflective of dominance.

Golden Relativity | Duan Jiang: Cultivate students' blockchain thinking and blockchain technology in school blockchain education, so that students can truly master blockchain knowledge: In today's Golden Theory of Relativity, for "How Southwestern University of Finance and Economics Deeply integrate finance and blockchain technology, and promote industrial transformation and application”, said Duan Jiang, a professor at Southwestern University of Finance and Economics, a doctoral supervisor, a member of the CCF Blockchain Professional Committee, and director of the Sichuan Blockchain Research Association. , the blockchain technology is very hot, the summits are one after another, and there are a lot of blockchain training courses, but they still talk about technology and concepts, and there are still very few practical applications, especially 2C products. There are very few, so this industry urgently needs to have actual products for users to use, so that more people can see that blockchain technology has real uses, and this can truly motivate everyone's enthusiasm for learning, so that more people to participate in the industry. In our school's blockchain education, we let students participate in the actual product development based on blockchain technology. In this process, we cultivate blockchain thinking and blockchain technology, so that students can truly master the blockchain technology in this process. Blockchain knowledge. Blockchain technology has very practical application value in digital content-zce copyright registration. Blockchain-based smart contracts protect the interests of creators and achieve an equal distribution of economic benefits. [2019/9/12]

In addition, Goldman Sachs also pointed out that blockchain platforms like Ethereum may become a huge market for reliable information providers, just like Amazon is for the consumer goods market today.

Analysis | Golden disk: BTC/USDT bottom divergence rebound is brewing: Comprehensive analysis of golden disk: BTC/USDT has come out of sideways trading after a sharp drop. At present, the conditions for MACD divergence are met. Unless it continues to accelerate and sharply fall, it will be difficult to disappear , and the DMI also diverges, so we need to wait patiently for the buying opportunity. [2018/8/11]

JPMorgan Chase recognized the value of Ethereum in a report on April 27, saying that Ethereum has performed significantly better than Bitcoin since the beginning of April, and then gave three reasons why Ethereum has outperformed Bitcoin in the report. Reasons: First, Ethereum’s liquidity is more elastic. Liquidity shocks in the encrypted derivatives market have caused huge liquidations. During the shocks, the Bitcoin futures market was far more affected than the Ethereum futures market. During the market recovery phase, the Ethereum transaction depth recovered rapidly. Secondly, the turnover rate of Ethereum spot is much higher than that of Bitcoin, which also means that the long position of Ethereum is more inclined to hold spot rather than futures and perpetual contracts. Finally, the transaction activity of the Ethereum network shows the richness of its on-chain activities, including the ever-growing DeFi and other areas in the ecosystem. According to JPMorgan, there is a big difference between Ethereum and Bitcoin. Bitcoin is more of an encrypted commodity than a currency and is linked to gold as a store of value asset. Ethereum is the backbone of the cryptocurrency eco-economy and acts as a medium of exchange in the ecology.

Ark investment analyst Yassine Elmandira said that predicting that in the next five years, the return of Bitcoin against gold may reach 10 times, while Ethereum may bring trillions of dollars of opportunities.

Gold supporter and Bitcoin opponent Peter Schiff predicts that the market value of Ethereum may exceed that of Bitcoin. He explained that while most cryptocurrency buyers realize that Dogecoin is a joke, they don’t when it comes to Bitcoin or Ethereum. But as cryptocurrency speculators turned to ethereum, they had to sell bitcoin to fund the trade. It is not so much that Bitcoin surpasses gold, it is better to say that Ethereum surpasses Bitcoin.

Recently, NBA Dallas Mavericks owner Mark Cuban (Mark Cuban) said that the future potential of Ethereum is greater than that of Bitcoin, because Ethereum has more application scenarios than Bitcoin, and the market for Bitcoin derivatives is too large. This can be a high-stakes pitfall when a pullback occurs.

MicroStrategy CEO Michael Saylor divided the crypto market into crypto assets and crypto applications, and claimed that Bitcoin is the leader in crypto assets, while Ethereum is the leader in crypto applications. No asset can be compared to Bitcoin, Ethereum is a completely different class.

A recent paper by the Federal Reserve Bank of St. Louis delves into the scaling of DeFi and its role in Ethereum. The article believes: "DeFi may lead to a paradigm shift in the financial industry and may help build a more robust, open and transparent financial infrastructure."


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