Fundamentals of Ethereum

Jun 26, 2022

The fundamentals of Ethereum are stronger than ever and will inevitably keep growing. Here are some facts.

1/ The unique Ethereum addresses keep growing at a rapid speed even when the price goes significantly down. The total addresses are about 200M now.

2/ The daily active Ethereum addresses growing rapidly during DeFi Summer and stay at 450K-600K until now. They become loyal users of Ethereum.

3/ The main problem of adapting Ethereum and Dapps is the transaction costs. However, the solutions, Layer 2 and ETH2, are around the corner.

4/ Layer 2 protocol Optimisum only launches for 8 months and now they have top DeFi protocols and 1m unique addresses. The Airdrop strategy is playing well and 14% of tokens are waiting for the future drop.

5/ Layer 2 protocol Arbitrum only launches for 10 months and now they also have top DeFi protocols and 750K unique addresses with organic growth. They are starting Arbitrum Odessey to boost their growth and there is a high chance for future Airdrop to boost even further.

6/ ETH2 is at the closest point to release. Ropsten Testnet is successfully merged to the new PoS Beacon Chain. The Merge of the Ethereum mainnet is scheduled to happen this year. The development is non-stop and you can check the progress at What’s New in Eth2.

7/ DeFi on Ethereum becomes an important component in the ecosystem. The top DEX trading volume for the past 24 hours are $1.32B for @Uniswap and $590M for @CurveFinance. They can be ranked №6 and №9 with the top CEX.

8/ NFT on Ethereum becomes a phenomenon in the retail market. There are about 20k projects on Opensea trading with an avg $3b monthly volume in the last 10 months.

9/ The biggest competitors of Ethereum by market cap are Solana, BSC, and TRON. Solana’s technology is innovative but their “beta” mainnet is never stable. There is a 4.5 hrs halt in June and several incidents each month. BSC and TRON are clones of Ethereum without technology innovation.

The market moves in a cycle. The current downturn is nothing to do with the fundamentals of Ethereum. Stop spreading FUD.

IMO, #WAGMI.