The world of cryptocurrencies is on a quest to not miss out on extracting yields both for the sprint and for the marathon. While crypto folks look forward to newer assets for short-term gains. Legacy coins such as Bitcoin and Ethereum still remain the ideal ones for the marathon.
The second-largest digital coin Ethereum has been rising ahead of the crypto industry, as well as other businesses on numerous fronts. Which has been enthralling Ethereum maximalists and has persuaded buyers to pin hawk’s eye on the digital asset.
Breaking Down Ethereum’s Achievements
Ethereum has established its reign in the crypto business and has been holding its hegemony in the industry at numerous fronts. Despite its limitations that have been collaring the second-largest cryptocurrency to greater extents. The TVL of Ethereum has been one of its major strengths, the digital asset concluded the previous year with a TVL of $153 B.
Talking about monetary achievements, the revenue of Ethereum tallied to $10.9 B for 2021. The revenue from the sale of NFTs on OpenSea was $1.5 B for the year, despite the high gas fees. The revenue of its nearest L-1 rival BSC stood at $1.0 B. Coming to earnings of creators from Ethereum, the numbers stand at $3.5 B, being at the 3rd place behind Spotify, YouTube, and Etsy.
In addition, Ethereum’s sprawl has been at a commendable rate, the protocol’s layer-2 solutions have established their names in the industry. Some of the top names in the business include Polygon, ZkSync, Loopring, Arbitrum, amongst others. The L-2’s with faster TPS, lower charges have garnered the interest of masses in the block.
Concluding, not missing out on the burn rate and deflationary status, 1,721,915 ETH has been burnt since the inception of EIP-1559. In addition, as previously discussed at CoinPedia the inflation rate of ETH has been lower than Bitcoin. Moreover, the mention made by Ark Invest’s Executive of ETH price claiming $20 T market cap still holds presence amongst savvies. In addition, the aforementioned metrics have been feathers to Ethereum’s cap in global significance.
Source: https://coinpedia.org/ethereum/ethereum-still-the-crypto-to-buy-for-2022/