Altcoin Daily brothers Austin and Eren are joined by EllioTrades to discuss the bull case for Ethereum, potential and how it can play out in 2021.
Ethereum is experiencing congestion with the high network effect right now just like it was in 2017. The network now has strong competitors in the market with tremendous utility like Binance Smart Chain, Polygon, Polkadot, Cardano but Ethereum has the trust as the biggest network in the ecosystem and has become the undisputed home of important and highest value smart contract functions.
Cardano, Polkadot, Binance Smart Chain scaling solutions is focused on offloading from Ethereum and it is a big characteristic on why 2021 is slightly from 2017 where everyone is writing Ethereum off.
EllioTrades says Ethereum has plenty of gas to reach as a healthy five figures this cycle or the next in comparison to the value it provides to decentralized gold. He predicts a $20,000 top for Ethereum in the current bull cycle.
Ellio says competition is very important for innovation when asked it Cardano, Polkadot and other projects competition for market share with Ethereum. He added what is needed is interoperability to take center stage if blockchain is going to be the future of financial networks.