Bankless 15 - ETH is Undervalued
Jun 2, 2020
Discover why the hosts believe Ethereum is undervalued despite rising metrics like gas usage and daily active users. They discuss the implications of on-chain governance and its potential to undermine value. With new partnerships in DeFi like Aave's innovative lending features and the integration of stablecoins, the landscape is rapidly shifting. Plus, the impact of Coinbase listing MKR tokens is examined. Tune in for insights on the future of Ethereum and decentralized finance!
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ETH Mismatch
- Ethereum's fundamentals are strong, but the price remains relatively flat.
- This mismatch suggests potential undervaluation, despite high gas usage and active users.
High Gas Usage
- Ethereum's gas usage is at an all-time high, indicating increased network activity and demand.
- Transaction fees generate substantial daily revenue, comparable to Bitcoin.
Active Users
- Daily active users on Ethereum are nearing all-time highs, similar to the previous bull market.
- This high user engagement contrasts with the current lower ETH price.