Although the recent recovery appears to have briefly slowed, the price of Ethereum is still on an upward trajectory, demonstrating its resilience as a formidable digital asset. Currently, the crypto industry is undergoing a crucial shift and ETH, once considered a simple digital asset, is now seen as the ideal choice for a store of value and treasury asset.
SharpLink CEO hails Ethereum as king of Treasury
Amid Ethereum’s current bullish trend, a new debate is now being seen among prominent figures and institutions in the dynamic financial landscape. This debate coincides with the growing belief that ETH could be the next big thing in crypto finance.
Joseph Chalom, co-CEO of SharpLink Gamescaused a stir in the cryptocurrency community after proclaiming Ethereum, the treasury asset superior to Bitcoin, the leading digital asset. While being a Maxie on tokenization, Chalom believes that Bitcoin and Ethereum dominate this part of the sector. “I think there is a role for Bitcoin in every person’s wallet, and I think there is a role for ETH,” he said.
However, the CEO placed ETH ahead of BTC as the smarter long-term choice for corporate treasuries looking beyond just digital reserves. Shalom’s statement implies that Ethereum is a more dynamic store of wealth for contemporary businesses due to its utility-focused ecosystem, returns, and rapid integration across decentralized finance.
One of the main reasons why Chalom praised ETH as a better treasury asset than BTC, it depends on their distinct volatility, with the altcoin having a volatility of 40%. While this is not certain, the CEO said that spot ETFs have resulted in many BTC being held without trading, leading to lower BTC volatility.
As a result, Chalom believes ETH is an ideal store of value because it is more productive and deflationary, which are key factors to consider when creating a digital treasury. Another factor driving ETH forward Bitcoin This is staking. Owning and staking ETH also has several advantages.
According to the CEO, one ETH staked is equivalent to the revenue of public companies, as they trade based on valuations. Additionally, Chalom reveals that large investors holding billions of ETH can jump into the DeFi ecosystem and make a difference. With their massive holdings, these investors can raise the standards of DeFi by establishing royal protocols and creating beneficial incentive structures without necessarily taking on more risk.
A massive share of ETH staked during the week
Since the start of the week, on-chain data shows that a significant amount of Ethereum has been staked. Specifically, this large ETH staking is being done by leading asset management company, Grayscalea sign of growing institutional confidence in the long-term potential of the network.
As reported by Ted Pillows on X, Grayscale has staked over 1,161,600 ETH, valued at $5.1 billion, over the past week. According to Pillows, retail is moving out of liquidity on BNB chain memes while on Ethereum, smart money positions itself. “No wonder most people lost money this cycle,” the crypto expert added.
Featured image from Pxfuel, chart from Tradingview.com
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