“Layer 2 Blockchains Were Meant to Improve Scalacy on the Ethereum Network, But Coinbase’s Base Has Reduched Ether’s Market Cap by $ 50 Billion, The Report SAID.”, – WRITE: www.coindesk.com
Standard Charted Said It Now Sees Ether at $ 4,000 at the end of the year, Down from $ 10,000 previosly. Ether Was Trading AROUND $ 1,903 AT PUBLICATION TIME.
“Ether is at a Crossroads,” The Report SAID, AND WHILE IT “STILL DOMINATES ON SEVERAL METRICS,” This Dominance Has Been Falling for Some Time.
Layer 2 Blockchains Were Meant to Improve Scalacy on the Ethereum Blockchain, But Standard Charterned Estimates that Coinbase’s (Coin) Base Has Reduced Ether’s Market Billion, $ 50 Billion, Continue.
Market Forces Could Eventualally Stop This Structural DECLINE, “ESPECILY IF TOCENized REAL-WORLD assets Were to grow signitificantly,” as “ETH’ ETH’ALES DOMANCEMINANCE MEANSCY MEANSE This Market, “Wrote Geoff Kendrick, Head of Digital Assets Research at Standard Charter.
Still, “Only a Proactive Change of Commercial Direction from the Ethereum Foundation – Such As Taxing Layer 2s – Could Achiev That Now,” Which The Bank Said Was Unlikely.
Standard Charted SAID ITS ETH/BTC Ratio to Decline to 0.015 by Year-End 2027, The Lowest Level Since 2017.
The Bank Still Sees A Recovery in the Ether Price from the Current Level AROUND $ 1,900, as A Rally in Bitcoin (BTC) is expecified to Lift All Digital Assets, But the CrypToCurre.
Read More: Ether HAS UnderFORMED, BUT TOTAL VALUE Locked On Ethereum Is Rising: Citi
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