Goldman Sachs Leaks Reports Show That Ethereum Can Take Over Bitcoin As A Store Of Value

A Goldman Sachs Global Macro Research report leaked to Twitter details how the bank's research unit believes that the use cases of Ethereum will eventually lead to the second cryptocurrency taking over Bitcoin and replacing it as the best cryptocurrency by market value. Ethereum's market cap is just over a third of Bitcoin, which is $ 250 billion compared to $ 660 billion. According to Goldman Sachs, Ethereum is likely to be the dominant store of value, which it calls the "information Amazon." Decentralized Finance Due to the recent massacre in the market, DeFi has remained reasonably well. As a future substitute for banks, DeFi closes the traditional financial sector in terms of lending and provides enormous interest returns compared to that. DeFi relies heavily on the Ethereum blockchain, and cryptocurrency projects here have helped trap over $ 50 billion (total locked-in value) on TVL. This figure was close to $ 90 billion before the latest stock market crash. Unchangeable tokens are another use case to create value for the Ethereum blockchain. Digital art and collectibles have really risen in recent months and the future looks bright for this new industry. According to the authors of Goldman Sachs, “Most decentralized financial applications (DeFi) are built on the ethereum network and most non-exchangeable tokens (NFTs) issued are purchased with ether. The higher number of transactions in ether compared to Bitcoin reflects this dominance. “As ETH 2.0 upgrades continue, complicated issues such as scaling and high transaction costs can be resolved. If we get to this point and we get there, the price of ether could be much higher than the recent highs. According to Kosala Hemachandra, Managing Director of MyEtherWallet, he quoted today in a Forbes article: “ Unlike Bitcoin, ethereum is not just a token of value, which means it actually powers all use cases that work in addition to the ETH block.

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