According to Andrew Keys, co-founder and president of the Ether machine, Bitcoin feels like yesterday’s tool.
He told Squawk Show from CNBC on July 21 that he “prefers to have an iPhone than a fixed line”.
Keys continued by saying that he owns zero Bitcoin, punctuating all his belief on Ethereum. This decision places it in a small group of cryptographic contributors who defend Ethereum without having Bitcoin.
Ethereum Backs Genius Act
Based on reports, Keys says that the Genius Act will be a growth plan for growth. This law, approved on July 18, opens the way to stabbing issuers based in the United States by creating railings for audits, reserves and licenses.
More than 50% of all stablescoins now operate on the network of intelligent subcontractors in Ethereum. If the volumes of Stablecoin reach the thousands of billions planned, this part would lead to large costs for validators and DAPPs.
The intelligent meeting network attracts institutional flows
According to Keys, institutional players will flock to Ethereum for the colonies and real tokenization. He compared the adhesion of the Ethereum reserve to the domination of Google’s search, noting that Google has around 90% of all research.
Banks and funds, he said, will find it easier to manage cash tokens on a network designed for programmable money. This point of view echoes the Tom Lee strategist in Fundstrat, who recently declared that Ether could increase to $ 15,000 by the end of the year. Lee, however, still holds Bitcoin as well as Ethereum.
The list of SPACs increases a lot of money
Based on the deposits, the Ether machine has teamed up with the company Spac Dynamix Corporation to register under the Ticker ETHM on NASDAQ.
Keys achieves $ 645 million in its own funds as an anchoring. The combined company aims to raise $ 1.5 billion to support an ETH treasure, stake operations and challenge strategies. Investors like 10T Holdings, Pantera Capital and Electric Capital have already signed.
CLOSE competition – 2 and other channels
According to data on the chain, a certain activity moves to layer-2 networks such as arbitrum and optimism. Rivaux blockchains like Solana and Avalanche also welcome parts of the Stablescoin market and NFT trades. This trend could distribute the transaction costs far from Ethereum Mainnet, reducing some of his expected earnings.
Based on the market chatter, some analysts are concerned about a cliff in the spac flow of agreement. The closure of the ETHM merger depends on the acquisitions of shareholders and the dry exam.
There are also regulatory risks on development services, which the SEC can consider as unregistered securities. Gas gas tips during periods of use could also dissuade new users.
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