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Useful Vids
Ethereum is Valuable https://www.youtube.com/watch?v=iWKEKffFz6I
Ethereum Scaling https://www.youtube.com/watch?v=bz0y5zUZBaE
Goldman Report https://www.youtube.com/watch?v=pdnBdjyEOuQ
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- TIMESTAMPS -
0:00 Intro
2:08 Previous Maxi Perspective
5:18 ETH Valuations
7:46 Wall Street Adoption
12:42 Institutions Buying
14:49 London Upgrade
18:44 ETH 2.0
21:38 Conclusion
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️ Useful Links ️
► Arthur Hayes Piece: https://cryptohayes.medium.com/yes-i-read-the-whitepaper-59cfa2ea9c2c
► Goldman Offering ETH Options: https://www.bloomberg.com/news/articles/2021-06-14/goldman-expands-in-cr...
► Justin Drake Tweet: https://twitter.com/drakefjustin/status/1399326516199239680/photo/1
► Blockchain Repo Trade: https://www.bloomberg.com/news/articles/2021-06-22/goldman-sachs-begins-...
► Cumulative ETH Burned: https://duneanalytics.com/queries/10149
► Vitalik Podcast: https://tim.blog/2021/03/09/vitalik-buterin-naval-ravikant-transcript/
► GS Research Report: https://www.goldmansachs.com/insights/pages/crypto-a-new-asset-class.html
► Goldman Internal Report: https://www.forbes.com/sites/billybambrough/2021/05/24/13-trillion-crypt...
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Arthur Hayes
The co-founder of BitMEX is a Bitcoin Maxi. He wrote a piece that explains why ETH is so valuable. He wrote a blog post that looked at valuing ETH from the perspective of it's Defi disruptive force.
He looked at the performance of the banks over the past 10 years and explained how they have not being able to generate any returns for their shareholders.
He then takes a look at ETH based on the amount of "revenue" being gas that has been used and compared that to a price.
Basing it on a median price to revenue, if ETH was to even revert back to its mean ratio, it would imply a price of over $32k and if it were to revert to its median its over 9k.
You can also use these median Price-to-Revenue numbers in order to determine what price ETH would be should it only capture a small percentage of traditional Finance's market cap. I
Goldman Sachs Offering
Their head of commodities research was more bullish on Ethereum than Bitcoin and that was mainly down to the utility that there is on the network.
That there are more use cases for it. As a commodities researcher, he holds the view that any "store of value" needs to have an alternative use case as well.
There was also an internal report from Goldman that said ETH was most likely to flip Bitcoin. Goldman has also started offering Ether futures & options to their clients.
Institutions Buying
The most recent Coinshares Report shows that investors have been picking up products like ETPs and ETFs etc.
In the week ending the first of June, funds flowing into Ether investment products was the highest of the lot. I
Then, just the week after we saw that the trend continued. Flows into Ether were almost 3 times all the other flows combined.
It's not only that they are buying the ETH to hold in their wallets. They are also staking this in order to earn those ETH 2.0 returns. N
EIP 1559
This is the update to the Ethereum Gas fee market that will see a dynamic "base fee" introduced. This Base fee will be determined by the market conditions and will eliminate the potential for people to bid up transaction fees by bidding up the gas fees.
The most exciting thing about it though is the fact that the base fee will be burned. This means that the supply could eventually become deflationary.
ETH 2.0
This is the upgrade that will see Ethereum move to Proof-of-Stake as well as a number of other changes including sharding etc.
ETH staking went live in December with the ETH 2.0 staking contract. Since that time, the total amount of ETH placed in the contract is at all time highs with over 5.5 million ETH locked up.
This is important to note as the ETH that is locked in this contract is completely illiquid. T
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Disclaimer
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Ethereum #ETH #Crypto #Cryptocurrency #defi #goldman
