ETHEREUM AND BIG MONEY

The big money investors are beginning to pay more attention to Ethereum; Carl Icahn was interviewed on Bloomberg, and he stated that Ethereum is the underlying blockchain. You can use it as a payment system or as a store of value. It seems like he has been familiarizing himself with EIP-1559. He differentiated the two top digital currencies, Ethereum and Bitcoin, stating that Bitcoin is only a store of value. He also said that Icahn Capital is considering making a major move into cryptocurrency.

We can assume that much of his money, ranging into billions, will be allocated to the top two cryptocurrencies from his interview. However, some people believe that it may be Ethereum because it seems that he may prefer Ethereum to Bitcoin. This is a big deal because it means that Ethereum is getting more recognition and acknowledgment than before. It is very interesting to see notable investors like Carl Icahn paying more attention to Ethereum.

Kevin O’Leary also came out and said, on his podcast, that he would be starting a decentralized finance investment company. And we all know that the best decentralized projects, Aave, Uniswap, Balancer, and Curve Finance, are all in the Ethereum ecosystem. He did not specify where exactly he will be channeling his investment, but it is interesting to see that someone who was once a crypto hater is now going into DeFi.

Ethereum volumes have been exploding; lately, they have surpassed Bitcoin volumes for the past month. This is huge; more daily spot volume is beginning to happen for Ethereum.

Investors are beginning to take notice of what Ethereum is doing and what it has to offer. The demand for Ethereum is soaring, but this does not mean that people are neglecting Bitcoin. People still want Bitcoin, but Bitcoin has limited uses, mostly a store of value.

Ethereum, as of last week, tripled the daily value settled on-chain versus Bitcoin; as of last week, it was about 45 billion dollars a day, and currently, we are up to 52.6 billion dollars a day. We will soon see Ethereum settling nearly four times as much daily value as Bitcoin from the look of things.

More investors are waking up to what Ethereum is doing and are now acknowledging what it offers, and more people are using the Ethereum chain.

On the other hand, Polygon, Ethereum’s premier side chain, announced they are releasing the Polygon SDK. This Software Development Kit aims to help make a multi-chain Ethereum happen.

Even though more scaling solutions will launch and Ethereum 2.0 may finally happen, Polygon will still be relevant. What we see with Polygon is that they are doing different massive things as they aspire to be a major software component of the future of Ethereum.