Crypto Analyst Explains Why Ethereum ($ETH) Is 'Still Hugely Undervalued'

Recently, crypto influencer and trader Elliot Wainman, the owner/host of YouTube channel “EllioTrades Crypto” told his 316K+ subscribers why he believes that the Ethereum ($ETH) price is headed much higher.

Below, we highlights some of the comments Wainmann made about Ethereum during a YouTube video he released on May 2:

  • I’ve been a broken record about the importance and potential of Ethereum as a base layer protocol for the future of finance and an asset that simply must go up based on its fundamentals.
  • “… the Ethereum network is starting to have more active users than ever before at a parabolic growth rate. And that to me is why Ethereum is so valuable.
  • And I say it time and time again: Ethereum’s not more valuable because it’s faster, cheaper or easier user experience; it’s more valuable because it has the developers, it has the users, and it keeps growing.
  • [After EIP-1559 goes live] “… with every usage of Ethereum’s network, the actual amount of Ethereum in the world gets reduced slightly.”
  • Crypto works in cycles and when these big changes happen, people believe it when they see it, and as Ethereum’s tokenomics change, as the fees to the networks change, as the L2 and sharding and scalability and ZK Rollups start rolling out on the network, [it will have] more and more utility, value, better tokenomics. All of these things will have compounding effects together. It’s not so simple as one upgrade or two upgrades – it’s a series.

https://youtube.com/watch?v=JJFg2DDQQKI%3Ffeature%3Doembed

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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