HUGE Ethereum Potential (Layer 2 Altcoins Set To MOON)

Posted 2 mins ago | by Catoshi Nakamoto

Ethereum is rocking and rolling harder than John Bonham, Neil Pert and Tommy Lee combined. But it’s price action and gas fees are more out of sync than Ringo Starr. So is Ethereum playing it’s Chinese Democracy? A dud after such a long wait for EIP 1559 has brought some good news but…lackluster network performance. Or is Vitalik quietly writing the next Black Album for the diamond shaped crypto that’s been rocking our portfolio all year?

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Let’s get it.

Welcome to BitBoy Crypto. Home of the Bitsquad, the largest crypto community in all of the interwebs. My name is Ben. Every day on this channel I show YOU how to MAKE MONEY in Crypto. If you like money and crypto then make sure to hit that subscribe button. In this video we bring you the latest on Ethereum and it’s price potential for Q4.

This is the Ethereum Channel and I’m proud of it. But we don’t simp for coins; we also keep it real. The fact is Ethereum continues it’s incredible developments in the NFT space and beyond but is hampered by it’s success. The network is congested and gas remains a thorn in the side for many users. But how can Ethereum keep time with the band AND play a face melting solo? I think so and the key to that is going to be Layer 2.

Our old friend Polygon just surpassed Ethereum in active addresses And it’s network isn’t slowing down. We have a big bag of Polygon and that’s for a reason. Anything running close to Ethereum is going to be a solid performer not just in token price but in usability as well. The data coming out of Polyscan shows parabolic growth in active addresses on polygon, going from 100k in June to almost 600k as of this week. Polygon really is the hot opening act for the headliner. It enjoys all the benefits of Ethereum smart contracts but with a fraction of the fees and more speed. Gaming and NFTs have restrung Polygons guitars to bring new folks into the blockchain fold. The polygon side of Opensea has seen an increase in trading over 45x from last month. All of this action though hasn’t made the price of Polygons token MATIC move that much. As of this recording you can still grab some MATIC for 1.28 which is a steal. Bitcoins price movement has pulled a lot of the gains away from alt coins, but that’s normal market behavior. Bitcoin moves and alts follow. Sometimes within a few hours, other times a weeks after. Polygon has been in sideways action for a while now so it’s set to pump along with Ethereum in the next month or so.

If you were born to rock out and make gains, smash the like and subscribe button. That puts you in the most metal squad of all, the Bitsquad. You’ll get the latest in crypto education, news and the sickest drum solos on the internet.

Mirror is an Ethereum based blogging platform that has fully opened up to anyone who wants to start blogging on the blockchain. While it looks and feels a lot like Medium, Mirror has all the advantages of smart contracts built in, including tipping, NFT collectibles and auctions, user signatures from Eth wallets and permanent backups via ArWeave. The potential for Mirror to bring truth to journalism combined with a censorship resistant way for information to be shared is everything that I love about crypto. This is only one way that Ethereum is going to revolutionize how information is shared across the internet.

Wanna hear an Ethereum joke? I would tell it to you but the gas fees are too high. Ethereum gas has been crazy this year and while that has made degen life more expensive, it’s a net positive for the network. Doing a quick check on etherscan shows who the main gwei guzzelrs are; NFTs and Games. 13 percent of all gas is getting used on OpenSea. That’s amazing. And the sad part is it’s only going to get worse as more blockchain games come online and adoption soars over the next year. This is proving out Ethereum’s utility for years to come so get familiar with Layer 2 solutions if you want to make token gains in your portfolio or are just wanting to get into more blockchain economies. Next year is going to be the year for Layer 2 so accumulate your cheap Ethereum and Layer 2 tokens while you can. Eth will continue to get burned at a faster rate and while I’m not holding my breath for staking, it’s smart to be looking ahead at Layer 2 Ethereum potential. Games like Sandbox are making the meta verse more accessible to the masses and already have partnerships with large companies, brands and other games like Roller Coaster Tycoon.

Ethereum has settled a staggering 6 Trillion dollars in transactions in the past 12 months. A 369% increase over 2020. In Q3 alone, 1.5 trillion dollars got settled on the Ethereum blockchain. Thanks Gary Vee. All of this volume is pulling more and more institutional money away from Bitcoin and into Ethereum. Some top analysts at the Nickleback of Finance, JP Morgan, shows that whales interest in Bitcoin is waning and futures contacts are moving more and more into Ethereum. It only makes sense because Bitcoin is just not going to make the large moves that it used to. But Ethereum can. And Ethereum will. It’s tokenonmics and fundamentals. Ethereum isn’t just digital oil to Bitcoins digital gold, it’s the world computer. Imagine owning a piece of HTTP instead stock in Google. Or having a stake in TCP/IP instead of Instagram. Yeah those sites are great…but the ENTIRE INTERNET runs on HTTP and TCP.IP. You can’t even compare the two. Ethereum’s 10k peak this year is still totally in play and that could easily double. That’s right I’m still bullish on Eth to 20k. Take advantage any time Eth is below 4k. It won’t be there for long. Of course none of this is financial advice, just crypto education.

The future for Ethereum is getting an incremental upgrade this month with the Altair upgrade on the Beacon Chain. The Beacon Chain is the Proof of Stake chain, different from the current ETHash Proof Of Work Chain we all know and love. Altair is a warmup for staking and is used to warm up the upcoming Merge of the chains. The Merge is set for early 2022 and will end Proof of Work Ethereum and begin Proof Of Stake, but chain sharping will happen later. How much later? No idea. But I can see Ethereum sharping taking shape sometime in Q4 of 2022. That’s if the current rate of development keeps this pace. While gas will get lowered when the Merge happens, it won’t see it’s real drops until sharding is implemented. So keep that in mind. That’s why Layer 2 is going to be so important moving forward. Crypto can’t cross it’s fingers hoping that Ethereum is going to hit their milestones…beacause they haven’t…ever. But just like any good rock band…they may take the stage an hour after the opener finished, but when they show up you are guaranteed to rock out.

That’s All I Got. Be Blessed. Bitboy out.

Source: https://thebittimes.com/huge-ethereum-potential-layer-2-altcoins-set-to-moon-tbt3920.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam

Category: Cryptocurrency News

Post by: TheBitTimes.com