I’m BUYING This Crypto (#1 Altcoin to Make You RICH)
This is probably the lowest risk highest reward. All coin that i have seen im continuing to add more, and i think anyone in crypto should own this coin. A lot of new data came out over the last 24 hours, which made me even more bullish on it, but before we dive into that, i wanted to let you guys know that i just opened up some new spots for patreon last time we did this. We sold out in 500 spots in less than 24 hours, so, if youre interested in joining to get access to daily live streams, buy and sell alerts, exclusive content, private member discord and a lot more well make sure to join the group using the link down below Because the spots will fill up, anyways coin i want to talk about today – is going to be ethereum everyones, like ah ethereum, who cares about ethereum its the second largest crypto in terms of market cap theres, not so much upside. But a lot of interesting news. Just came out over the last 24 hours. The first is that the amount of ethereum held by miners have reached an all time record high since 2016.. What were seeing is that, right now miners hold over 532 000 eth. This is the largest balance that weve ever seen its over 1.5 billion dollars, and this is very exciting because typically um miners, whether youre talking bitcoin miners, ethereum miners, whatever they usually sell the asset regularly to cover their expenses like electricity, hardware, costs and other things like That but ethereum miners are not doing this at all theyre holding it theyre accumulating more, and you can see from this chart theyre just continuing to add.
More recently, we have seen a massive massive spike in ethereum miners balance its this purple line right here. It has shot up dramatically since about june of 2021.. Second thing going on, which makes me even more bullish, is with regards to ethereum on exchanges. We have seen that the amount of ethereum on exchanges continues to drop drastically. Ever since, over the last 12 months, we have seen the total amount of ethereum on exchanges consistently drop from about 24 million down to about 18.5 million ether. This is very exciting, because what it shows us is that people are betting on ethereum long term theyre, taking their ethereum off of exchanges, moving it into cold storage, moving it over to different platforms, maybe to buy nfts theyre just taking it off of exchanges means that They have no plans on selling it anytime soon, and this means that lower supply available on exchanges more people want to buy it well its going to push the price up very, very quickly. Third thing going on is with regards to eip1559. This was a recent upgrade. London hard fork that essentially made it so ethereum started to get burnt, and since this was rolled out just a couple months ago, we have seen over 480 000 ethereum burned totaling over 1.7 billion dollars. So everyone says well: bitcoin has a hard cap on the supply. 21 million bitcoin will ever be in existence thats. It thats why institutional investors, like it its like a alternative to gold like a digital gold aetherium.
Now, with this much ethereum being burned burned, it makes it more of a deflationary asset, meaning that the total supply is not increasing nearly at as fast of a rate as it used to. That is also very exciting. Fourth thing right now is nfts. Market overall is looking very, very good for crypto and when the market looks good, people are willing to take on more risk and were seeing. The exact same thing happen with nfts nfts, in my opinion, are riskier than most all coins, and so now that were starting to see this bull market really take off. We are seeing nft sales and trading volume explode in the third quarter of 2021. We saw over 10.7 billion dollars in nft sales, and this was over 700 more than we saw in q2 of 2021.. Vast majority of nfts are bought using ethereum, so for anyone who wants to get in they need to buy ethereum. They need to take it off. Of exchanges, they need to use that to buy an nft so right now there is a lot of very positive stuff going on with ethereum. Some people are saying well, theres a 3 800 um per coin resistance line. That is a key resistance that we need to break above. I am not worried about that. Im not worried about that at all, because if we look at a theory of long term, we are seeing all these things happen. Miners are continuing to hold more.
The amount of ethereum on exchanges is continuing to drop. Institutions are continuing to accumulate more and more ethereum versus bitcoin theyre, starting to see ethereum as a major competitor and a major alternative to bitcoin, and were also seeing that nft trading volume is continuing to explode. So, for all of these reasons, ethereums price could easily go to 10 000 per coin. In my opinion, it is the lowest risk highest reward opportunity in the crypto space right now it is never gon na go to zero. Is it gon na 100x? No, but it is the highest reward, lowest risk coin, in my opinion, out there right now and im gon na continue to add more and more to my position. Let me know your thoughts, obviously theres, still a lot of other altcoins. I like out there like cardano, like solana, like chain link like um uni, swap there are so many other coins out that i like, but ethereum, is a sure bet and should be in every single persons portfolio.