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It's Thursday, so ya know what that means
Time for a #ThursdayThread
While Bitcoin has been getting a lot of attention lately, and its price soared to new ATH’s, it is important not to neglect the second-largest cryptocurrency by market cap - ETH, and all its progress
1/12
Time for a #ThursdayThread
While Bitcoin has been getting a lot of attention lately, and its price soared to new ATH’s, it is important not to neglect the second-largest cryptocurrency by market cap - ETH, and all its progress
1/12
But what is Ethereum? - Ethereum is the world's first programmable blockchain and has the power to become the worlds preeminent global network that is censorship-resistant and 100% peer-to-peer
2/12
2/12
ETH’s price is up about 350% since the start of the year. This isn't pure speculation but is the realization of massive strides made by the ETH community
3/12
3/12
The Ethereum network is dwarfing the on-chain fees when compared to #Bitcoin 
on most days since June this year along with processing more onchain transactions. Source - @coinmetrics
4/12
on most days since June this year along with processing more onchain transactions. Source - @coinmetrics 4/12
Ethereum is currently migrating to Proof of Stake. The ETH 2.0 beacon chain was launched on 1 December 2020 and at the time of writing has nearly ~1 million ETH staked, estimated value ~$600 million. This marks Phase 0 for the transition
5/12 https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa
5/12 https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa
ETH 2.0 is set to make Ethereum faster, cheaper and more secure by migrating from PoW (proof of work) to PoS (proof of stake). in order to launch this - 524,288 ETH were required to be staked, which was easily surpassed by the ETH community
6/12
6/12
Historically, ETH and #bitcoin have had a high correlation, but that also appears to be weakening recently, showing ETH is standing on its own merits and increasingly so. Note, correlation is a volatile metric.
8/12
have had a high correlation, but that also appears to be weakening recently, showing ETH is standing on its own merits and increasingly so. Note, correlation is a volatile metric.8/12
All these trends point to the rapid adoption of Ethereum and its native asset ETH. ETH’s price also remains well shy of its ATH price at $1,448, but with the continued developmental transition to PoS, I suspect we may be eclipsing this soon.
9/12
9/12
While #Bitcoin has been dominating the headlines and getting interest from HNWI’s and Institutional investors, the Ethereum eco-system has been busy building products and adding value. Just some of the products -
10/12
has been dominating the headlines and getting interest from HNWI’s and Institutional investors, the Ethereum eco-system has been busy building products and adding value. Just some of the products - 10/12
Even @Visa is paying attention, partnering with a startup to expand $USD stable coins on #ETH. This will significantly boost adoption of crypto assets and ETH -
https://www.forbes.com/sites/michaeldelcastillo/2020/12/02/visa-partners-with-ethereum-digital-dollar-startup-that-raised-271-million/
11/12
https://www.forbes.com/sites/michaeldelcastillo/2020/12/02/visa-partners-with-ethereum-digital-dollar-startup-that-raised-271-million/
11/12
While #Bitcoin has found its niche as a ‘store of value’, which don't get me wrong, has IMMENSE value, I believe ETH has equally unlimited potential as well. If Bitcoin is the money of the internet, Ethereum IS the internet
I buy Bitcoin to HODL, but I buy Ethereum to use
12/12
has found its niche as a ‘store of value’, which don't get me wrong, has IMMENSE value, I believe ETH has equally unlimited potential as well. If Bitcoin is the money of the internet, Ethereum IS the internetI buy Bitcoin to HODL, but I buy Ethereum to use
12/12
