$ETH

Ethereum Price Analysis!!!

Ethereum is still one of the most valuable digital assets, with a market cap of about $252 billion, even though it is trading 57% lower than its highest price, according to CoinMarketCap.

Despite this, Ethereum is worth more than big companies like Toyota, which has a market cap of $250 billion, and the global platinum market, which is around $245 billion.

“Ethereum is about the future, about new financial technologies and solutions,” said Alex Obchakevich, founder of Obchakevich Research.

He mentioned that Ethereum attracts younger investors, which sets it apart from traditional assets.

However, some experts warn against comparing Ethereum’s value directly to large companies.

Flavio Bianchi, a Polkadot ambassador, pointed out that Ethereum “isn’t a business” but a system for decentralised transactions and asset creation.

Ethereum’s change to a proof-of-stake model has affected its value.

Obchakevich noted that this change made it a deflationary asset, although recent data from Ultra Sound Money shows Ethereum has become inflationary again, with an annual inflation rate of 0.73% over the last 30 days.

The deflationary status relies on transaction fees and the amount of ETH burned.

On March 23, daily fees on Ethereum dropped to about $337,000, the lowest since June 2020, according to IntoTheBlock data.

Ethereum’s market cap is also higher than the GDP of Greece, which is currently about $243.5 billion.

Some analysts see this as a sign of legitimacy, emphasizing Ethereum’s importance in smart contracts and decentralised finance, which has a total value of over $124 billion.

At the time of this report, the price of Ethereum (ETH) was $2,045.87.