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Crypto analyst and trader Lark Davis believes Ethereum (ETH) is massively undervalued with the potential to explode in the years to come.
In a new video, Davis compares Ethereum to PayPal, showing that Ethereum already far surpasses the payments giant despite its smaller size in terms of market capitalization.
Today, PayPal is one of the largest online payment providers in the world. So how does Ethereum stack up against this payment giant?
Well currently, PayPal’s market cap [is] $ 344 billion. Ethereum is therefore worth $ 100 billion less than the company PayPal. Now you might be thinking, okay, that’s a pretty bad comparison. PayPal is such a huge business. It does so much more business than Ethereum.
Is it? Well, let’s dig into the facts here.
Davis shows that in 2020, PayPal processed $ 936 billion in total transaction volume. Compared to Ethereum, Davis says PayPal is not keeping pace. The second-largest cryptocurrency processed $ 1.5 trillion in on-chain settlements in the first quarter of 2021 alone, according to the crypto analyst.
So, in the first quarter alone, Ethereum achieved 50% more transaction volume than PayPal in the whole of 2020. Amazing. It’s no wonder PayPal is starting to sell Bitcoin and Ethereum to its customers, as they’ll be stuck if they don’t.
They can see where the future is heading, and its direction towards online payments, which is exactly why PayPal has, of course, started allowing its customers to pay online using Bitcoin and Ethereum in their PayPal accounts.
Smart move, PayPal, smart move. But of course it’s a nice strategic move, but the numbers really speak for themselves of Ethereum’s dominance as an online settlement provider. It’s incredible. $ 1.5 trillion in the first quarter. And you know what’s the crazy thing? It was even more than that. It’s just Q1 that we were talking about.
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