- Uniswap founder Hayden Adams underscores the importance of Uniswap as a major driver of Ethereum’s current value.
- Ryan Sean Adams, founder of Bankless Ventures, highlights Ethereum as the only profitable blockchain.
- Sean Adams emphasizes Ethereum’s evolving role as a monetary instrument, pointing out its deflationary nature in the current cycle.
Hayden Adams, the founder of Uniswap, has asserted that Ethereum’s value is derived from developers creating innovative and practical applications on its platform.
Adams, in a recent statement, claimed that Uniswap is the biggest value driver for Ethereum at the current time. According to him, Uniswap accounts for approximately 25% of the network’s blockspace and around 75% of the maximum extractable value (MEV).
Adams’ remarks responded to Ryan Sean Adams, the founder of Bankless Ventures, an early-stage crypto venture fund. Ryan Sean Adams expressed the view on X that the current price of Ethereum is undervalued.
Sean Adams claimed that many traders are focused on speculative scenarios rather than considering Ethereum’s fundamentals. Sean Adams highlighted Ethereum as the only profitable blockchain, citing its annualized profits of $2.7 billion and a higher price–earnings ratio than Amazon.
According to Ryan Sean Adams, Ethereum has now solidified its status as a monetary instrument. He emphasized its deflationary nature in the current cycle and suggested that if Ethereum had the same monetary amplification as gold, its value would be $22,000.
Furthermore, Sean Adams stated that there’s a possibility that Ethereum will get a spot ETF, which would open the door “to trillions in locked capital inflows.”
Sean Adams emphasizes Ethereum’s transition to a fully proof-of-stake consensus mechanism, highlighting its environmental friendliness. He believes this shift makes Ethereum potentially attractive to ESG (environmental, social, and governance) investors.
Recently, the host of the crypto channel Altcoin Daily claimed that BlackRock’s Ethereum spot ETF approval could catalyze Ethereum’s price. The analyst claimed that if Ethereum’s market capitalization increased by the same percentage it did in the previous cycle, the price could go as high as $42,000.
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