Ethereum is BACK baby…..and ready to push itself into the main conversation, once again….as
if it ever left from this channel.
I knew this was going to come, 2 weeks ago, I made the video Why I’m buying Ethereum
over Bitcoin, 1 month ago, I’m Buying Ethereum over Bitcoin this Dip...and then 4 months
ago, I posted Ethereum to propel past 3k in just 6 months?
Yeah the Ether breakout has begun….so are you ready for breakout?
Well you don’t have a choice, because it’s time for Chico Crypto!
Pulling out Ethereum’s USD chart, not bad yesterday, pushing from the low of $2150 to
above $2350...but the chart everyone should be talking about, is the Ratio of ETH to BTC.
Ethereum gained 4 points on BTC, going from .039 to .043.
Ethereum is once again pushing up to a very important ratio number of .05...why?
Well pulling out the ratio, since it’s peak last bull run, 2017...and into the bear market,
that .05 level was “attempted” more than a few times.
It looked like it was gonna happen, just as we entered 2019...but extreme rejection...which
didn’t rebound until the DeFi summer bubble of 2020...another look, but rejection….we
got extremely close to breaking it, in early February..rejection and now here we are at
another try.
A break of .05, in my opinion will set Ethereum off to the races and discovery will take place.
Setting the stage for this bull runs BIG conversation.
The Flippening Part 2021…
The Flippening!?
What is that Chico??
Well it’s not a trick from that 1994 movie with Elijah Wood and the dolphin….but that
point in the summer of 2017, last bull, when Ether almost flipped BTC by market cap...just
a 7 percent cap sat between the two around June 2017!
And even the big news outlets were covering it.
June of 2017, Coindesk churned out this article “The #Flippening: Will Ether ‘Pass’
Bitcoin And What Would It Mean?”...diving into the details of it and covering a tracker,
which showed the flip was almost complete.
Yes there were even trackers made, that are still up to this day, watching for the FLIP.
Flippening.watch...which shows that the FLIP isn’t even past 30 percent competition based
on MarketCap, but Ethereum has flipped BTC, based on Transaction count.
There were other trackers made too, blockchain center put out their own too, which has more
data points, showing Ethereum has also flipped BTC based on transaction fees...so obviously
this conversation, this narrative was BIG back during the heat of 2017.
But let me tell you, it’s going to heat up again.
And why I think ties into a stat on blockchain center...transaction volume.
As you can see Ethereum is pushing 62 percent of the transaction USD volume flowing through
it’s blockchain, compared to BTC...this is all done while the market cap is only about
25 percent of BTCs.
And A Spencer Noon on Twitter puts out my thoughts onto paper or should I say keyboard
exactly.
He tweeted “PayPal settled $936 billion in payments last year, Ethereum settled $1.5
trillion in transactions just last quarter.
This figure is also growing exponentially PayPal marketcap is $310 billion
ETH marketcap is $263 billion
Yeah, Mesari put out their research, and q1 2021, over 1.5 trillion settled.
And Ethereum is looking to settle 6 trillion, in q2.
Exponential growth….
And I think another category, getting close on the flippening watch will be flipped soon.
NODE count….pushing towards 90 percent completion.
Why do I think this category will be flipped in Ethers favor here soon!?
Well last week Coinbase announced Ether staking was open, allowing customers off the waitlist,
so they could start earning staking rewards!
(Link #5 Coinbase announces ether staking opens)
So what you need to understand is for each eth2 staking node that Coinbase opens, they
need to run an ETH1 node in parallel.
As Coinbase opens the floodgates, this node count FLIP, will happen...very very soon!
But what about Market Cap flip!
The category at the top of everyone’s mind...
Well there are roadblocks in Ethereum’s way...everyone knows that, or that flippening
conversation might have already started.
DeFi madness today is just as bad as ICO madness which helped the flip almost happen back in
2017.
But unlike back then...the GAS on Ethereum is even more ridiculous...bubbling to amounts
not even imagined back then.
The blockchain is bloated, it needs scaling RIGHT now.
Can Ethereum solve this crisis before years end?
I do believe Ethereum is going to do it...and the reasons come down to the ETH 1 to ETH2
Merge happening sooner than people think.
Which is being trialed and errored as I speak, which we will get into in a bit, but before
that, it’s time for a sponsored segment of this video, by the Team over at TrustSwap,
and like always the full details of our agreement can be found in the description!
So first what is TrustSwap?
Well they consider themselves the one stop-full service digital asset ecosystem….and going
to their website, links in the description, we can see that ecosystem consists of 4 live
DeFi Services with 2 to come.
One down the road Swappable, their coming NFT marketplace and p2p erc20 escrow service
platform.
The Swap Staking Platform, fully live to earn those sweet HODL staking rewards.
Coming soon, Smart Mint, the easy no code token creation tool.
Their OG product, smart locks, has been live which are token, team & liquidity locks, to
prevent those nasty rug pulls... as we can see from this products explorer, over 1 billion
in liquidity locked with smart locks.
Also live, is smart swaps...which allow trustless P2P OTC swaps, as well it can be used for
Escrow deals, and their newest product gaining a ton of steam, their launchpad...where new
projects, launch through their platform, required to use the safety features like smart locks.
But let’s just get back to one of their coming products.
Smart Mint...at the end of January, TrustSwap posted this blog “TrustSwap SmartLaunch-Bringing
Security to Crypto” and as you can see, this is going to feature MINT.
When this launches, and rumors are soon... is when TrustSwap, kicks into overdrive!
Why??
Well into their blog they talk of laying the foundation, for secure token launches and
projects, through smart locks...but that isn’t enough, because of the token contracts!
Vulnerability can still exist in those, of which TrustSwap couldn't do anything about...until
SmartMint..
This allows token creation and no coding... allowing the teams to select properties, just
from drop down menus.
Simplicity And it’s guaranteed secure, fully audited...thus projects that launch with Smart
Launch, utilizing the trustlocks, and smart mint…have accountability and security baked
in!
So if you are thinking about a project looking to bring security back to the crypto space,
while providing game changing DeFi services, to their token hoders, developers, users,
and projects alike...TrustSwap Fits that bill, and of course links for them are down in the
description!
Now back to Ethereum, and can it solve the gas crisis which in my opinion, puts the marketcap
flippening back into the conversation later this year!
And this ties into who I think will be providing the infrastructure for Coinbase staking…Bison
Trails.
Coinbase in January of this year, announced they had acquired them, the leading blockchain
infrastructure platform...obviously this was in preparation for the staking they were about
to do…
Well Bison Trails put out an blog update on ETH2 with the subheading…”We cover eth2’s
traction, our expectations for the staking rate, and the latest news on the eth1<>eth2
merge”
Yeah news on the eth1...eth2 merge?
In the blog they say “Progress continues to accelerate on the merge, as researchers,
client teams, and community members approach the work from several directions.” and one
of those directions Bison Trails covers, is Rayonism...they say “The third track of
work comprises efforts to create POCs and testnets that actually bring the eth2 vision
to life.
And continue ““[Last] week, protolambda and others released plans for Rayonism☀️,
an ambitious month-long hack to create Merge devnets based on current specs with a stretch
goal of adding sharding to these devnets along with L2 rollup integrations.”
Oh yeah baby...going to Rayonism’s website and landing page they say “Rayonism is a
scaling project around the ETH Global Scaling Hackathon (April 16 - May 14), experimenting
with Merge and Sharding Eth1-Eth2 testnets...and as we can see from the roadmap, post hackathon,
after May 14th...in just a month, they plan to have a public trial testnet out with Merge
and Sharding!
This all goes to plan, and they get a testnet out shortly after...that flippening conversation
is going to ramp up and ramp up quick...and it looks like things are going to plan.
This hackathon including rayonism, started april 16th….guess who tweeted an update
3 days ago...Nethermind.
They said ‘We have been busy delivering the Eth1 - Eth2 merge implementation and it
is now ready for internal testing.
We will update you as soon as you can play with the first version too”
Starting out smooth, but we still have a month to go...so you figure this out Ethereum, hack
it till you make it, or the FLIP won’t be a conversation this year….but if that public
trial testnet is deployed by the summer of 2021, everyone just might become Elijah Wood….
Cheers, I’ll see you next time!