Despite the growing acceptance of Ethereum by global giants such as KPMG, Robinhood (NASDAQ:HOOD) and BlackRock (NYSE:BLK), a new all-time high before 2025 seems unlikely. While major players are moving forward with their crypto strategies, many investors still don’t understand the true potential of Ethereum.
BlackRock's Robert Mitchnick says institutional acceptance and growth of blockchain technologies are still in their early stages.
KPMG’s Kareem Sadek adds that his firm has a strong focus on DeFi, NFTs, and the Metaverse — all sectors in which Ethereum plays a leading role.
Robinhood is also showing confidence in the future of Ethereum. The company recently launched an initiative that allows European customers to deposit and withdraw funds in over 20 digital assets, including Ethereum. This expansion, in response to growing demand from European customers, aims to give them more control over their digital assets and facilitate access to DeFi.
Johann Kerbrat, vice president and general manager of Robinhood Crypto, said: “This has been one of the most requested features by our customers.” Despite regulatory challenges in Europe, such as the new MiCA rules, Robinhood is determined to expand its presence in the region.
While major companies like KPMG, Robinhood, and BlackRock are stepping up their support for Ethereum and taking steps to expand cryptocurrency acceptance, a new all-time high for Ethereum by 2025 remains uncertain. A lack of clarity on the investment narrative and mixed investor sentiment add to this uncertainty.
Ethereum (ETH) has a wide range of use cases that are revolutionizing various industries. Here are some of the most notable ones:
1. **Decentralized Finance (DeFi)**: Ethereum enables the creation of decentralized financial applications that operate without intermediaries, such as loans, exchanges, and insurance².
2. **Non-Fungible Tokens (NFTs)**: NFTs are unique digital assets that can be bought, sold, and collected on the Ethereum blockchain. They have gained popularity in digital art, gaming, and collectibles².
3. **Smart Contracts**: Ethereum makes it easy to create smart contracts, which are self-executing agreements with the terms of the contract written directly in code. These contracts execute automatically when pre-defined conditions are met³.
4. **Supply Chain Management**: Companies are using Ethereum to track and verify the authenticity of products across the supply chain, improving transparency and reducing fraud².
5. **Decentralized Autonomous Organizations (DAOs)**: DAOs are organizations managed by smart contracts instead of people. They allow for decentralized and transparent governance³.
6.**Large Developer Community: Ethereum has one of the largest developer communities, which fosters continuous innovation and robust support for new projects1.
7.**Constant Updates: The Ethereum network is constantly evolving, with updates such as Ethereum 2.0, which aims to improve the scalability, security and sustainability of the network3.
8.**Non-Fungible Tokens (NFTs): Ethereum is the most popular blockchain for creating and exchanging NFTs, which are unique digital assets used in art, gaming, and collectibles2.
Source: chat with Copilot, 10/02/2024
(1) Exploring Ethereum Use Cases - Morpher. https://www.morpher.com/blog/ethereum-use-cases.
(2) Vitalik Buterin shares his top 5 non-Ethereum use cases. https://br.coingape.com/vitalik-buterin-compartilha-seus-5-principais-casos-uso-no-ethereum/.
(3) Exploring Ethereum Use Cases - Morpher. https://bing.com/search?q=ETH+use+cases.
(4) A Complete Guide to Ethereum | ethereum.org. https://ethereum.org/en-us/.
(5) What use case can Ethereum make ETH a valuable asset?... https://cointelegraph.com/news/what-ethereum-use-case-can-make-eth-a-500b-market-cap-asset-community-answers.
