While Ethereum may currently be in its infancy, have you ever pondered the extent of its success once the market fully comprehends its boundless potential? Join us as we embark on this exploration!
Advancements in Ethereum
Ethereum has been diligently pursuing its goal of achieving widespread adoption over the long term, a move that could result in substantial revenue growth. This optimism surrounding Ethereum is rooted in its role as a Layer 1 network designed to secure the value of WEB3, marking a departure from the value-providing approach of WEB2, which primarily caters to the application layer.
The WEB3 Academy recently conducted an analysis showcasing how Ethereum’s protocol layer benefits from Blockchain, specifically through Base and FriendTech. FriendTech is a WEB3 social application operating on the Base network but relies on Ethereum for transaction execution.
Furthermore, Ethereum stands to gain significant revenue, as indicated by WEB3 Academy’s examination of FriendTech’s revenue-sharing model. This same analysis suggests the possibility of exponential growth in decentralized applications (dApps) within the Ethereum ecosystem over the next decade. Ethereum holders and stakers can stand to reap the rewards of these advantages over time. Consequently, Ethereum’s long-term outlook, particularly in the context of mass adoption, appears promising.
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Present Data Regarding ETH
Furthermore, over the last 12 months, the quantity of ETH held by the most prominent addresses has consistently risen, reaching its peak for this year. Nevertheless, network expansion has significantly decelerated, primarily due to the prevailing short-term market pessimism. At the time of drafting this article, Ethereum’s network growth indicator had plummeted to its lowest point in the past year.
In exceedingly volatile market conditions, particularly during phases of heightened project appeal, network activity can often surge. Assuming all conditions remain unaltered, a rising number of decentralized applications (dApps) might theoretically necessitate higher fees over time. However, it’s essential to note that fee growth is typically non-linear, influenced by both elevated and diminished volatility in network operations.