Bitwise CIP is praising Ethereum like there’s no tomorrow. Check out what he has to say about the digital asset below.

ETH is praised as an investment

According to Matt Hougan, the chief investment officer at Bitwise, Ethereum (ETH) presents a greater investment opportunity than Bitcoin (BTC).

Hougan believes that Ethereum is the largest investment opportunity in the entire cryptocurrency market.

He explains that Ethereum is a new global computing platform that has the potential to restructure how the financial industry and creative world operate.

Unlike most other crypto assets, Ethereum’s value is propelled by cash flows. As more people utilize the Ethereum network, the blockchain generates more revenue. This revenue benefits ETH holders through the crypto-equivalent of buybacks and dividends.

The Chief Information Officer of Bitwise, the largest crypto index fund manager in the US, observes that Ethereum has the highest number of applications and developers in the crypto field.

Furthermore, he highlights that big companies are already using this blockchain as a platform.

For instance, Nike generated $200 million in digital goods revenue on Ethereum in recent years, PayPal introduced a new payments solution on Ethereum, and Goldman Sachs structured a $100 million bond on Ethereum which settled in just one minute instead of the standard five days.

In conclusion, Hougan believes that Ethereum is the most probable option in the crypto ecosystem for tokenized real-world assets.

At the time of writing, ETH is trading at $1,652, while the second-ranked crypto asset by market cap has decreased by more than 3% in the past 24 hours.

Ethereum selling exhaustion is addressed

According to Chris Burniske, a leading venture capitalist in digital assets, the top cryptocurrencies by market cap may have reached their bottom.

In a post on the social media platform X, Burniske suggests that a bull market is on the horizon and that the current financial quarter may be the cycle bottom for crypto prices.

Although fear is widespread, Burniske believes that selling exhaustion is imminent. He predicts that BTC could drop to the low $20,000s and ETH to the low $1,000s.

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