ethereum has received a lot of criticism recently and consequently the price of eth has underperformed compared to other altcoins. However, Ryan Berckmans, a prominent community contributor and ethereum investor, boldly claims that we are entering the “Age of ethereum,” a period that could redefine the hierarchy of blockchain technologies. Berckmans shared its twitter.com/ryanberckmans/status/1788665200016552099″ target=”_blank” rel=”nofollow”>perspectives via x, generating a mix of enthusiasm and skepticism among the crypto community.
Berckmans maintains that ethereum's underlying fundamentals remain exceptionally strong despite facing several perceived challenges. He directly addresses common investor concerns, providing counterpoints to each that highlight ethereum's enduring strengths and potential.
“eth fundamentals look excellent,” says Berckmans. It addresses concerns about competition from bitcoin's Layer 2 applications, regulatory hurdles from the US Securities and Exchange Commission (SEC), and the rise of other blockchains like Solana.
According to him, more than real barriers, they are misconceptions: “The thing about all these headwinds is that none of them are real. In reality, ethereum is on the verge of becoming a global economic backbone and achieving permanent institutional legitimacy.”
Why ethereum is supposedly superior to its competitors
Berckmans criticizes bitcoin's L2 ecosystem, suggesting that it falls short in practicalities compared to ethereum's more mature and versatile platform. “Buy eth because bitcoin's L2 application ecosystem is currently garbage and will always be significantly worse in all practical aspects than ethereum,” he says, emphasizing ethereum's superiority for developers looking for solid, proven solutions.
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On the regulatory front, despite concerns that the SEC could classify eth as a security, Berckmans remains bullish on ethereum's position: “Buy eth because the SEC will likely not be successful in classifying eth as a security. Even if this happens, the Executive Branch will ultimately fail to slow the growth of ethereum because we are very useful to the United States and many powerful political blocs, such as big tech companies and commercial asset managers.”
Addressing Solana's competition, Berckmans notes that the perceived advantages in scalability and application growth may not be as strong as they seem. He suggests that ethereum does not face any genuine competition: “Buy eth because Solana is not as scalable as it seems; It is not as high a growth as it seems; has faster L2 as competitors than it seems; has significantly less customer diversity and more technological risk than what it sells for; and, in general, it is weaker and more threatened than most think.”
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Additionally, Berckmans analyzes the strategic moves of major financial players such as Visa, MasterCard, JP Morgan and Citibank, which have built their own blockchains. He predicts that these institutions will eventually gravitate toward ethereum due to its extensive network and trustless global operations.
“Buy eth because Visa, MasterCard, JP Morgan and Citibank built a shared chain and are using it instead of ethereum, and soon, having proven the future, they will migrate to ethereum as customers and the universe of potential partners are on ethereum ”says Berckmans.
The crypto expert also clarifies the relationship between ethereum and its Layer 2 solutions, emphasizing a symbiotic dynamic where both layers accumulate value, just like the railroads and the companies that thrive on them: “Buy eth because value accumulates in all L2 and eth and our applications. It is a symbiosis.”
Overall, Ryan Berckmans' bold predictions offer a compelling vision of ethereum's potential to not only meet current challenges but also emerge as a central pillar in the future of global finance. It remains to be seen whether this vision will be fully realized, but for now, the notion of an “Age of ethereum” is generating considerable debate and interest among investors and industry observers alike.
At press time, the price of eth was trading at $3,031.67.
Featured image created with DALL·E, chart from TradingView.com
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