Bitwise Chief Investment Officer: Compared with BTC, the spot Ethereum ETF will have a greater impact on ETH prices
Odaily2024/07/18 04:15
By:Odaily
Odaily News Matt Hougan, chief investment officer of Bitwise, said that the US spot Ethereum ETF may have a rough start after its listing, but the impact on the price of the asset may be greater than the impact of the spot Bitcoin ETF on BTC. The spot Ethereum ETF will have a greater impact on the price of ETH for three main reasons: Ethereum has many use cases, resulting in Ethereums inflation rate being actually close to zero, because the number of new ETH generated each day is negligible relative to the amount of activity on the Ethereum network; Bitcoin mining requires expensive computer chips and a lot of energy, which is costly, and miners are forced to sell Bitcoin to maintain operations, while staking ETH has no significant direct costs; About a third of Ethereum (28%) is staked and locked for a period of time, which means that they have actually withdrawn from market circulation. (Cointelegraph)
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Stake to earn
CEC, QTLX, GDV and other popular new coins are in hot progress!
Stake now!
You may also like
Louisiana introduces crypto payment options for state services
Grafa•2024/09/20 07:20
Eclipse to launch Solana-compatible Ethereum layer 2 in October
Grafa•2024/09/20 07:20
Texas court dismisses Consensys lawsuit against SEC
The Consensys suit was originally filed in April and included the allegation that the SEC had opened an investigation into Ethereum
Blockworks•2024/09/20 06:54
Bitcoin is up 6% since the Fed rate cut. What’s next?
Despite short-term boost, Bybit executive warns investors of “potential challenges posed by economic uncertainty and market fluctuations”
Blockworks•2024/09/20 06:10
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$63,462.88
+2.17%
Ethereum
ETH
$2,552.53
+5.26%
Tether USDt
USDT
$1
+0.00%
BNB
BNB
$573.2
+2.83%
Solana
SOL
$150.35
+8.45%
USDC
USDC
$1
+0.02%
XRP
XRP
$0.5863
+0.47%
Dogecoin
DOGE
$0.1063
+2.11%
TRON
TRX
$0.1524
+1.44%
Cardano
ADA
$0.3579
+3.27%
Bitget pre-market
Buy or sell coins before they are listed, including HMSTR, CATI, OGC, EIGEN, and more.
Trade now
Not a Bitgetter yet?Sign up now to embark on a journey into the crypto world!
Sign up now