Fidelity says Ethereum’s evolution and maturation may now position it alongside Bitcoin as an investable monetary good.
. The upgrade’s benefits have been manifold: reducing Ethereum’s electricity consumption by 99%, dramatically reducing Ether’s inflation rate, and preparing the network for future scaling through ‘sharding.’
this as one of Bitcoin’s star qualities, as the protocol’s decentralization gives credibility to the scarcity of its underlying asset, making it the ultimate “monetary good.”During Wednesday’s interview, however, Fidelity remarked Ether may also be an emergent form of money – especially given its deflationary tokenomics after the merge.
That said, the analysts noted that Ether’s theoretically bullish new burning mechanism is yet to be reflected in its price. While supply has indeed gone down since the merge, demand for Ether is another story.
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