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This market leader expects Ethereum to have a ‘price earning ratio about…’

by Miki 08/11/2021
by Miki 08/11/2021 0 comment

Ethereum‘s comparison with Bitcoin saw proponents within both communities debate over the topic every time either asset witnesses a tech development or price surge. With Bitcoin and Ethereum gaining more institutional interest, traditional investors have changed their minds about the crypto ecosystem, during this bull cycle.

Kevin O’Leary (aka “Mr. Wonderful” on ABC TV series “Shark Tank“) recently explained why he is even more bullish about Ethereum than Bitcoin. He mainly attributed this to EIP-1559 going live on ETH’s network.

In a recent video, he spoke about the largest altcoin in the market and its recent developments.

Mr. Wonderful talks about #ethereum #EIP1559 and #EIP3675 (the merge) and Ethereum becoming cashflow positive and https://t.co/VLOOtk2Wyu pic.twitter.com/lzTNCq1rtU

— Taras.eth | Taras Bobrovytsky (@TarasBob) August 9, 2021

In this video, O’Leary praised EIP-1559 (update). He said:

“It introduced a very important change to monetary policy theory. The fees that users pay to send transactions go to the miners, but after this improvement, the fees will be burned instead…Combing this with EIP-3675, which switches the network to proof-of-stake, […] Ethereum will become deflationary.”

He further went on to compare BTC with ETH. He added:

“If Bitcoin is sound money because of the $21-million supply ceiling, [Ethereum] is ultrasound money because there is no supply floor.”

The reality star concluded the video by saying,

“Ethereum is going to be (one of) the only blockchains that are generating profits and are expected to have a price earning ratio (P/E) about 15 to 20 times…. a lot better than some tech companies.

It’s been almost a week since Ethereum’s highly anticipated EIP-1559 improvement proposal was released. Roughly 21,600 Ether has been burned so far. In addition to this, the complete network’s transition to a proof-of-stake consensus is projected to occur by early next year, i.e. Q1 of 2022.



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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
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  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

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      11/12/2021

      Learn

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      How to Start Trading Cryptocurrency

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      How to Create Your Own Cryptocurrency

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  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
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