.jpg)
Will Ethereum Fuel The Next Rally Yet Again
I feel we in the crypto world owe a lot of our wealth and success to Ethereum. As much as people complain about the high fees it has done many things for us and has become one of the most innovative tokens despite its age.
2017 Ethereum
Ethereum launched in 2015 but it wasn't until last 2017 that it really found its calling when everyone under the sun realized you could launch a layer two token. From that came plenty of pumped up projects that where simply show to get investors to drop in their Ethereum (Yep, myself included) and from that we did get the dawn of some rather solid options such as Polygon which yes does have some issues of its own.
It's also sparked innovation as fees became a huge issue in 2017 which sparked many of the layer two options. It created other chains to try and do it smarter and better which gave us Cardano ADA among many others.
Speed up to a crash due to high fees and China to a very low point for crypto that lasted years to 2020 which sparked the next rally. This rally dwarfed the 2017 rally and I honestly expect the next true rally we see to even dwarf the one we have today.
2020 Ethereum
Thus the spark of DeFI and the dawn of NFTs and you have another huge rally on your hand. DeFi was only getting started and clearly is littered with some real issues. NFTs on the other hand have zero issues I know of. If anything it's innovated the gaming, music, art and other industries. With lock downs around the world it sparked a wave of new innovative methods for these people to earn money and people wanted it! In fact they still want it but what they don't want is the clear copy cat, money grab junk projects that continue to launch. This caused another stagnate type of platform we are currently sitting on that goes through some wild swings. It's pretty much trying to find it's bottom and with the wild UST and LUNA token mess its sparked what I believe is a very over sold market primed for the next rally.
2022 Ethereum (aka The Rally)
Last year many thought Ethereum would merge into a PoS (Proof of Stake) token. However many of us old timers in crypto pretty much figured that was not going to happen. We have been waiting for a update to help fees etc since 2017 which never came and so called layer 2 solutions still to this day fall short.
It's been said it was going to come early this year which also fell through and then got pushed to summer. Now it's pushed to Q3 and I have about a 80% confidence we are going to see "the merge" happen for Ethereum in Q3. In fact Buterin says it will happen in August which history has proven to be one of the gas months to fuel a massive crypto rally into November/December.
Why do I believe this will spark a Rally?
In general you have a price action that will happen then the ETH gets locked up and the print value falls for miners. This is going to cause a squeeze on Liquid ETH which pretty much everyone wants and will want even more when they see they can run a miner with it (thus the sell off of GPUs maybe) and locking those tokens. That means essentially you're taking the full supply and cutting it in half. From there you are also reducing the emissions of it while keeping the burn in place. That's three very positive things for price action to move higher on ETH. As people see ETH move higher it's going to spark other tokens to climb as many of them are attached to ETH much like many are also attached to BTC. Thus this full broad rally will start to cause people to want to get in and buy before it's to late. What do you get? A rally and one that might be fueled further by some blockbuster type play2earn games, web3, a rebrand of DeFi such as PolyCub and many other systems that have been building over the last year or two.
What are you thoughts on Ethereum finally going to PoS? Will it happen any time soon and when it does will we see a rally?
Posted Using LeoFinance Beta
I think Ethereum is going to start something up for sure.
Posted Using LeoFinance Beta
Yay! 🤗
Your content has been boosted with Ecency Points, by @bitcoinflood.
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more
I'm like you. I've been waiting since 2017 for Etherum to keep a promise.
I do sometimes forget how much the space owes ethereum so it was good to read it here. My chain of choice is Algorand. They are moving fast and don't have all these problems the SOL's and ADA's of the world are presenting. I figured by the time the next bull run started, they would have cemented themselves as a top contender and possibly take the mantle from ETH. But I also assume Eth will never get it together. If they do, things could be different.
I'm curious why you think they are finally going to get the merge done in August after years of deadlines floating by?
I don't think ETH is going to really happen until the end of the year. It just seems to keep getting pushed back and I am unsure whether or not moving to PoS will really help it boon. It just seems like it's benefitting the people who bought in early and the whales. At the same time, you have to consider what the miners will do and whether or not the performance of the chain will suffer.
Posted Using LeoFinance Beta
I wonder if it will do so but hope it would :) As to it going to PoS, maybe it will but it will take more time.
Posted Using LeoFinance Beta