Ethereum Is Winning Crypto and Beating Both PayPal and Bitcoin, Says Analyst Lark Davis
Top trader Lark Davis discusses in detail about uncovered potentials of Ethereum and how it is growing technically amid the bear market.
To kick off the video, Davis throwbacks the insane growth of Ethereum in the first half of 2021. According to the trader, Etherem has settled 1.5 trillion transactions in Q1 of 2021 and $2.5 trillion in Q2. This represents +65% QoQ and +1,490% YoY and puts Ethereum on pace to settle $8 trillion in 2021.
Additionally, Ethereum processed 4 trillion on-chain for around 0.25% in fees. In comparison, PayPal did 285 billion, with fees of 3.4% (paid by merchants).
“With Optimism, Arbitrum, Polygon, and ETH 2.0, fees will drop even futher for Ethereum. Crypto has already won; most people just don’t realize it yet!” the trader says.
In addition, finally, then long-awaited Layer-2 scaling solution is approaching as Uniswap v3 launches Optimistic Ethereum layer-two scaling in alpha:
“The alpha launch is a limited version of the full system, which helps developers deploy the system gradually and address any issues that may arise. During the alpha period, the platform will support an initial throughput of 0.6 transactions per second. It added that this should equate to a transaction capacity roughly in line with layer one, but transactions on OΞ confirm instantly meaning there are no more pending or stuck swaps”, the trader explains.
Initial users have been impressed, with Bankless founder David Hoffman exclaiming, “It’s instantaneous and insanely cheap. 5 swaps in 30 seconds, and I wasn’t even trying to be fast.”
The crypto KOL puts a strongly optimistic view on Ethereum. He says that Ethereum is of stablecoins, DeFi, NFTs, Gaming, Layer 2, Insurance, Securities, Real Estates, and much more:
“Slowly, but surely, it is becoming the settlement layer of internet”.