Ethereum: A Crypto Christmas Stocking To Buy Now

[ad_1]

When it comes to year-end sales in the cryptocurrency world, Ethereum (CRYPTO: ETH) is a token that Fool.com contributor Chris MacDonald and Fool.com publisher Eric Bleeker see huge value. This thread is taken from the December 15 episode of “The Crypto Show” on Backstage Pass.

Eric Bleeker: We have potential opportunistic “buy” opportunities. Chris, I believe you had an article on Fool.com called Crypto Stocking Stuffers. Maybe I got the title a bit wrong. But you’ve introduced some of the cryptocurrencies that are currently down 20% or more from 52 week highs.

As we’ve noted, volatility is the norm in this space, so we don’t want to dwell too much on week-to-week moves. All the same, we realized that a lot of these cryptos are in demand and if this is something you were interested in a week or two ago, you are just going to have better prices right now. Let’s go over some of the opportunities that you have identified.

First, we have Ethereum. Twenty percent off its 52 week highs. We’ll get to Ethereum a bit more as we have 2022 previews. But what do you see with Ethereum that would put it at the top of a shopping list if you’re an opportunist right now?

Chris MacDonald: I think Ethereum is one of the cryptocurrencies that has remained recent at an all time high, so it’s hard not to have a week-to-week view with Ethereum.

There are a lot of people who have been waiting for buying opportunities. Let’s say I’ll buy Ethereum when it’s in a bear market. Well now it’s in a bear market.

When people see Ethereum as, say, a core wallet for those looking to add some crypto exposure, these are really the building blocks of the DeFi world, the NFT world, even Metaverse based games coming out right now, they are all based on Ethereum. Probably the most benefit is the Layer 1 platform network.

There is a general theory that the value of a crypto currency is supposed to approximate the total value of all projects built on its network. For Ethereum, its size and scope are huge and only getting bigger.

I’m not going to go into the bull versus bear thesis too much because I know we’re going to be talking about it a bit too late, but there is Ethereum 2.0 coming out next year that should push Ethereum through proof. working on the proof of stake model which should reduce costs and improve speed with the platform.

There’s a lot of these catalysts coming in with Ethereum that people point out and say, well, maybe a 20 percent discount makes this a low-end item worth considering.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

[ad_2]