I still remember when I bought $ETH at $11 per way back in the day when it was first coming out. I actully bought it mainly because a friend of mine at the time mentioned it and we use to talk crypto shop on the daily lol. Now remember this was back in 2015 when it was one of the very few new tokens on the block. Before this it was pretty much Bitcoin, Litecoin and Doge and honestly if you would have bet evenly on all of these you'd be sitting pretty today!

Now with Ethereum being the second spot ETF to be approved just a few months after the famous Bitcoin spot ETF was approved there are some big questions that are starting to come up.

Bitcoins ETF

You see with Bitcoin it's primarily been a store of value and it's a blockchain that's hard to work with otherwise in terms of building applications on top of. It's hard to get and the fees are high.

But in all of that that's what makes bitcoin a huge store of value asset but being that there's no real tokens built on top of it it's pretty much stands it's own. However Ethereum shakes this up and it does so in a very big way.

Ethereum ETF

You see with Ethereum we owe a lot of things that have become mainstream. Smart contracts, NFTs, DeFi, Meme coins (besides doge), gaming and so much more can all be contributed to Ethereum to have started it. Now of course other blockchains have sprung up and now provide these options as well but Ethereum still holds a vast majority of it and is the highest demanded token.

This in itself changes up what this ETF means as Ethereum price increases then a vast majority of it's layer 2 and maybe even layer 3 tokens should also increase in value being how they are nearly directly connected to each other and all have to broadcast to the Ethereum network themselves.

Speculatively speaking then places that run on top of Ethereum that have performed well before the ETF should do even better once the ETF really kicks in (It seems like a good few weeks to 3 months before it does)

This means places like Uniswap Ethereums biggest user DeFi platform should see massive growth in it's token value along with the likes of places like 1inch network, 0x Protocol, EigenLayer, OpenSea, SushiSwap and many others.

This could spark another very large bull run but a vast majority of it would be outside of normal crypto holdings and more so into the ETF holdings which is odd when you think about it.

With buying bitcoin and other assets you don't actully own the crypto even though it should represent a 1:1 it's not in your wallet and you don't own it or have self custody of it.

What applications do you feel if any will have a positive impact on them from the Ethereum ETF?

Posted Using InLeo Alpha