Is Ethereum The New Hedge To Inflation, A Flight To $20 Trillion Market Cap Under Works?

The coin market gets a sigh of relief as the business spectates greener digits on the charts. Successively, the market cap is up over a marginal 1.3% at $1.74 Trillion. In the interim BTC price has reclaimed its $38,000 price tag, whilst ETH price has been changing hands at $2,619.64. Altcoins bearing the brunt has now pinned hawk’s eye on the business.

The crypto town comes across overwhelming interests revolving around the largest altcoin Ethereum. As the inflation rate of ETH continues to take a plunge, leaving behind the star crypto BTC. On the other hand, Ark Invest CEO’s optimistic views on Ethereum instills faith in the community.

Is Ethereum On Its Verge To Displace Bitcoin?  

While newer alts have been escalating at a brisk pace, that constitutes emerging layer-1’s, layer-2’s, Defi, Metaverse, and NFTs. Older hands continue sticking to BTC and ETH, and believe BTC and ETH should compose 95% of the crypto portfolio. The business has been keen on Ethereum, and fellow alts after ETH took the lion’s share of ultra-wealthy investors portfolio.

Successively, crypto folks are now pondering over the second largest crypto asset’s value proposition. Which now seems to be undervalued at levels below $3000, owing to the flourishing layer-2 ecosystem, triple halving. And the rise of diverse sectors such as NFTs, Defi, amongst others. Geeks from the industry firmly opine the issuance of ETH dropped by 90% this year. 

According to sources, Ethereum’s inflation rate is in comparison to Bitcoin’s inflation rate. In a 3-month annualized change in circulating supply has been taking a steep dip. With the falling inflation rate of Ethereum, it turns into a deflationary asset. The proponent cites that the rate could go negative in the next 6-months. 

Successively, Ethereum maximalists and holders are now even more optimistic of the utility chain, following the views of Ark Invest’s CEO. Cathie Wood’s mention of Ethereum claiming over $20 Trillion in Market Cap by 2030, has fueled enthusiasm amongst the fraternity. Going by the math a 7000% increase over the next 8 years seems doable for the crypto.

Summing up, the altcoin leader Ethereum is surrounded by bullish updates and beliefs by big money players and economic leaders. With the protocol’s ever sprawling utility and investments in the picture, Ethereum would eventually make it big in near future. 

Source: https://coinpedia.org/ethereum/is-ethereum-the-new-hedge-to-inflation/