Ethereum can buy, now?
Ethereum can buy, now?
There are both bullish and bearish signs for the ETH coin. Here's what our trainers have to say. What will you do about it?
10 days ago, our co-founder Chris Long shared his thoughts on Ethereum. If the technical details are overwhelming, you can proceed directly to the second chapter for insights from our Options expert. Read on until the end to find out what retail investors like you and me can benefit.
The number of people who want to stake ETH is increasing. Over the weekend, 8,000 new validators joined the queue, representing almost 10% of the total ETH currently staked.
Staking is a sticky process, meaning that it is difficult for people to switch from one validator to another. This makes it difficult for new entrants to compete with the leaders in the space, who have already built up a large network of users.
Additionally, the "winner takes all" effect means that the larger LSTs are able to capture more of the "golden nuggets" (fat blocks) that boost overall yield.
Overall, it is clear that the demand for ETH staking is increasing. This is due to a number of factors, including the high fees from actual on-chain activity, which are driving up yield.
What do you do with this info? It’s up to you. Process the knowledge and do what you must.
The path to the promised land is simple. But many will attempt short cuts , alternatives, or simply lose faith along the way. I wish you all well fellow crypto travelers… and for some, I shall see you on the other side.
Ethereum can buy, now? Opinion by our options trainer, Ryan.
This is a very common question I get asked by my crypto/ non-crypto friends and also students.
It is a simple question, that requires a profound answer.
If anyone tells you, "JUST BUY LAH...'COS NOW IT IS...", then they are shortchanging you.
You need to know what is this Ethereum you are buying into.
Vaneck, with $76.4 billion in AUM, recently published a report on Ethereum and their price predictions.
They have 3 ETH target price numbers by 2030.
Now: $1,800
Bear case: $343 (-81%)
Base case: $11,849 (6.5x)
Bull case: $51,006 (28x)
The ride is more enjoyable when you know what you are buying into, and KNOWING why it will pump (hopefully not dump).
However, it's important to acknowledge that not everything is positive. Our DeFi expert, AK, has highlighted key indicators that could potentially extend the bearish trend for Ethereum. 🐻 🐻 🐻
Ethererum (ETH) price has been under $1900 for the past 15 days. (As of 26 May 2023) Even with the recent Shapella upgrade on the ETH network allowing ETH stakers to unstake their locked up ETH did not bring any exciting price movements.
One of the key indicators are the uncertainty of two major financial events that the US are facing right now.
First is the debt ceiling standoff between the Biden's administration and the US Congress. Second, the digital assets regulatory battle between Coinbase and the SEC.
Either a positive or negative outcomes for both events would possibly trigger a major price jump with either investors coming back or leaving the crypto space for the short period of time. For the time being, many large volume traders are staying on the sidelines to avoid getting caught out when the price jumps.
Next, leveraged trades have fallen significantly ever since the fallout of FTX. Quarterly futures are some of the more popular products among the whales and arbitrage traders. They have avoided leveraged longs for the past four weeks.
Similarly, this brings out more sidelined money waiting to enter before a clear confirmation is formed.
So how can retail investors like you and me benefit from these events?
Personally I enjoy these low sideways movement prices as I can pick up good projects at affordable prices. That's not to mention my liquidity provision that allows me to buy low and sell high while earning a good interest is returning me between 15-20% APY.
So while the market can continue to drag along the under $1900 for the next six months, I will be calmly accumulating, building and preparing for the next bull run.
What will you be doing?
Ending off this article with Chris’ opinion on crypto safety 😉:
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