Despite receiving spot ETF approval, Ethereum, which has underperformed compared to Bitcoin, is waiting to be discovered.
Wall Street Still Unaware of Ethereum!
An analyst at crypto asset management firm 21Shares recently addressed Ethereum’s underperformance, saying that Wall Street investors are largely unaware of Ethereum’s potential.
21 Shares analyst Leena ElDeeb likened ETH to Amazon in the early 1990s.
Comparing Ethereum to Amazon before it became a $2 trillion tech giant in the early 90s, ElDeeb noted that ETH is largely unknown to Wall Street investors, adding, “Just as Amazon revolutionized the industry, Ethereum can surprise us with revolutionary use cases that we can’t fully imagine today.”
The analyst noted that weak inflows in spot Ethereum ETFs will only change and increase once Ethereum’s potential is fully realized. Currently, ETH’s $320 billion market cap is only 6.25% of Amazon’s value, reflecting its complexity and early challenges.
21Shares vice president Federico Brokate also likened Amazon to Ethereum, which evolved from a smart contract platform that has powered over $140 billion worth of decentralized finance (DeFi) applications since 2015.
“Amazon started out as an online bookseller, but few could have predicted that it would become a global e-commerce and cloud computing giant, reshaping the way we shop and use digital services.
Similarly, Ethereum started as a platform supporting smart contracts and has evolved into a decentralized finance platform worth $140 billion since its launch in 2015.
“Just as Amazon has expanded beyond books to redefine entire industries, Ethereum could surprise us with revolutionary use cases that we can’t fully foresee today.”
Lastly, 21 Shares analysts noted that short-term investors are still “cautious” and will be less inclined to invest in spot Ethereum ETFs until there is “more clarity” on Ethereum’s potential and use cases.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/21-shares-analysts-compared-this-altcoin-to-amazon-wall-street-did-not-realize-the-potential-of-this-altcoin-it-could-explode-like-amazon/