The Altcoin Daily YouTube channel with 1.3 million subscribers shared a video about the prospects for Ethereum, which the publication’s analysts see as quite rosy, despite weeks of a bearish trend.
One of the main factors that speak in favor of the growth of Ethereum, according to analysts, is the number of smart contracts that are deployed on the platform. According to Altcoin Daily, in 2022 it increased by 293% and indicates an increase in the value of the asset during the next bullish trend.
Particular attention is paid to the number of burned tokens. Since EIP-1559, $4.6 billion worth of ether has been destroyed. This was mainly due to the large number of decentralized applications developed on the platform. NFT and DeFi on the platform are fueled by burning Ethereum, notably through Open Sea and Uniswap.
Another factor in the growth of Ethereum in Altcoin Daily is called the implementation of the sign-in function, which will change the game. The feature will allow users to log in using the keys that control blockchain accounts, eliminating the need for intermediaries.
Earlier, members of the XRP community stated that, contrary to some spiteful critics, they “do not hate Ethereum.”
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
