ETH breaks through the $2400 mark

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Odaily Planet Daily News - Confirmation founder Nick Tomaino has published an article explaining the reasons why ETH has surpassed BTC. He pointed out that although BTC has achieved a market value of $2 trillion through the concept of "trustless value storage", it has now evolved into an asset favored by institutions and governments, with high concentration and lack of practical application support. One entity holds over 2.5% of BTC, and its ecosystem lacks practical applications to introduce new users. In contrast, ETH is a trusted and neutral Internet native value storage. As the underlying asset of the developer platform, ETH supports the stable currency DeFi、NFT、 Key tracks such as predicting the market, decentralized social networking, and identity. Almost all the new use cases that have driven industry development in the past decade have emerged from Ethereum and are continuing to grow. These applications not only expand the size of encrypted users, but also continuously enhance their scarcity through ETH as a settlement and collateral asset. Nick stated that it is wrong for extremists to advocate for only one trustworthy and neutral store of value, and although there may be more options in the future, there are currently only two truly viable options: BTC and ETH.

BlockBeats News: On May 10th, Nick Tomaino, the founder of 1cConfirmation, posted on X stating that "Ethereum will surpass Bitcoin (ETH will flip BTC) Bitcoin is the first cryptocurrency created by the people for the people. Driven by grassroots spirit and bottom-up beliefs, it has grown from nothing to an asset worth over $2 trillion. The storage value concept based on trust in mathematics rather than people has changed the world, but now Bitcoin has become the preferred institutional asset for large corporations and governments. An entity owns over 2.5% of Bitcoin. There are no practical applications built on Bitcoin to attract newcomers. Apart from storing value, Bitcoin has no other use cases to expand the market. Ethereum is a credible and neutral storage value asset originating from the Internet, supporting the development platform, covering stable currency, decentralized finance (DeFi), NFT, forecasting market, decentralized social networking, decentralized identity, etc. All the new use cases that have driven the development of the encryption field in the past decade have been built on Ethereum, and these use cases are all growing. These use cases attract newcomers to distribute Ethereum as a storage value and make Ethereum even scarcer. Maximists claim that there will only be one credible neutral storage value asset originating from the Internet. They are completely wrong. There will be many such assets in the future, but currently there are only two viable options: Bitcoin and Ethereum

Nick Tomaino, founder of 1cConfirmation, stated in an article on X platform that BTC is the first cryptocurrency that serves the people. The grassroots spirit and belief from the bottom up have enabled it to grow from scratch, and its market value has soared to over 2 trillion US dollars. Value storage based on trust in mathematics rather than people is changing the world, but BTC has now become the preferred institutional asset for large companies and governments, with one entity owning over 2.5% of BTC shares. Currently, there are no practical applications developed on Bitcoin to attract new users, and there are no use cases other than value storage to expand market share. ETH is a trusted and neutral Internet native value storage tool, supporting the developer platform, which covers stable currency, decentralized finance NFT、 Market forecasting, decentralized social networking, decentralized identity, and so on. All the new use cases that have driven the development of this field in the past decade have emerged on Ethereum and are constantly evolving, attracting new users to distribute ETH as a value storage tool and increasing its scarcity. Some people will only have a trusted, neutral, Internet native value storage method in the future. They are very wrong and may have many, but at present there are only two feasible options: BTC and ETH.

Click on the link to enter the live stream: https://meeting.tencent.com/p/5551765098 (Note: Tencent Meeting APP needs to be downloaded) It's a bit dreamy to say that Da Bing has once again stood at the position of 104000. I made a mistake myself in this market trend, relying too much on technical aspects and ignoring that the current market is completely controlled by Trump. The technical aspects are not as effective as someone else's tweet. There's nothing I can do about it. In fact, personally I still think there is an opportunity for the market to be bearish in the long term. Bitcoin has been in the market for so many days, and only yesterday did a single trading volume appear at the daily level, which is still high. This situation, combined with the historical trend in recent years, is often bearish at the high level. Currently, technical indicators, except for naked k, are mostly supportive, and the rest are in a bearish state. Therefore, personally, I still prefer to short at the high point. This wave of positive news for Ethereum has finally landed, with the only rebound in six months. The washing up was too severe, and after washing back and forth for a long time, all the pressure levels and support levels were useless during the upward trend. It completely controlled the market and took off, but it was still heavily manipulated, with a high of 2500 and a sudden drop to 2300. Therefore, the recent market trend has directly increased the intensity of operations. Ethereum will pay attention to the 2580 position in the future. Operation suggestion: Bitcoin 104800 to 5500 is short, defending 106000. Target 98500 Ethereum 2580 to 2550 are empty, defending 2620. Target 2250 QQ Fan Experience Group: 1018013659 DingTalk Fan Experience Group: 116320006956 Tencent Meeting Live Number: 5551765098 Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.