TL;DR
Full Story
You know the saying “comparison is the thief of joy”?
If you’re an Ethereum holder — that saying might hit a little too close to home.
Bitcoin has been pumping, while Solana has been on an absolute tear…and sure, it’s not like ETH has been doing poorly…
It just hasn’t been doing as great by comparison.
Well, that ends today. Thanks to these three factors:
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Near term — ETH is on a run! It’s up 11.46% in the past 7 days (compared to BTC’s +4.30% and SOL’s +1.87%).
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Medium term — A decision will be made on a potential Ethereum ETF on May 23rd. Whether we see an approval or denial, the narrative will likely lift prices in the lead up to the announcement.
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Long term — The Ethereum 2.0 update (aka ‘The Merge’) brought about fee burning (i.e. for every transaction that is made, a little bit of ETH is destroyed).
Which means the more ETH that’s traded, the scarcer it becomes.
So far, Ethereum’s supply has been shrinking at -0.2% per year (while Bitcoin’s is inflating at +1.67%), which is a solid start — but, bonus:
ETH’s burn rate will only increase as the bull market sets in and folks trade more.
(Making it a double-whammy of positive narrative and fundamentals).
We love to see it!
