Financial giant JPMorgan CEO thinks Ether (ETH) is outstripping its accurate worth. According to him, this cryptocurrency need to only be really worth about $ one,500.
JPMorgan CEO Nikolaos Panigirtzolou says Ether (ETH) is overrated. He stated he took various measurements of the network’s functionality and experimented with to translate them into a figure that finest represented the honest worth of the asset.
As a consequence, JPMorgan’s CEO and analysis workforce feel ETH need to only be valued at about $ one,500, which is fifty five% much less than the market place value at the time of the information.
“We look at the hash rate and the number of unique addresses to try to understand the value of Ethereum. We are struggling to break through the $ 1,500 level. This is a question. Current prices are showing an exponential increase in usage and traffic. However, that hasn’t come true yet, ”stated JPMorgan’s CEO
According to Mr. Panigirtzolou, this examination is incredibly uncomplicated for the reason that Ethereum’s proposals are no longer so distinctive. Despite remaining a pioneer in the application of wise contracts, this function is extensively shared with several other blockchains, also identified as “Ethereum challengers”.
Today there are several “those who want to usurp Ethereum” by delivering the similar technological attributes but with higher optimization. This is slowly taking away Ethereum’s enormous DeFi market place share, and is also why the CEO of JPMorgan thinks ETH is overrated.
“Ethereum is not the only 1. You’ve noticed the competitors from Binance, the competitors from Solana and there will be other individuals in the potential. “- Nikolaos Panigirtzolou pointed out
As much more and much more choices to the Ethereum network have appeared in the cryptocurrency market place, it is nevertheless hard to beat the results or trends that Ethereum has designed.
Currently, most of the innovation is nevertheless starting up on Ethereum, so it will migrate to the ecosystem of other blockchains. The primary examples are the decentralized fiscal market place (DeFi) and the NFT.
These are the views of Jack O’Holleran – CEO of Skale Labs – when he shares with the newspaper. Insider. Furthermore, he also stated that:
“Although major partnerships have been announced on other blockchains, we still see most developers being drawn into the Ethereum vortex.”
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