once the greatest bitcoin Jiang Zhuoer, CEO of BTC.TOP, one of the mining pools, Ethereum He made interesting statements about
The CEO believes there was a “supply shock” ahead of ETH recently.
EIP-1159 and Ethereum 2.0: Synergistic Impact for ETH?
According to Jiang Zhoer, the recent EIP-1559 update, which went live and burned some of the transaction fees on the Ethereum network, has already significantly reduced the supply of ETH.
According to the predictions of the famous CEO, with the implementation of EIP-1559, there was an effect on the ETH network that would correspond to the Bitcoin (BTC) halving. However, according to the CEO, it is the second largest in the world. cryptocurrency The event that will have the strongest impact for you is on the way.
With the Ethereum network moving to the Proof of Stake (PoS) system, the liquid supply could be shocked by 100-200%, Zhoer said. The impact of this event will vary depending on how many ETH tokens are in ETH 2.0 staking addresses.
Despite the decrease in ETH price at the time of this writing, the market value of the tokens in ETH 2.0 addresses is around 35 billion dollars. Investors have invested 11.8 million ETH in the staking contract so far.
Will “Flippening” Happen?
Flippening, which means ETH surpasses Bitcoin in market cap, will eventually happen, according to Zhuoer, thanks to the combination of staking and EIP-1159. The famous CEO expressed his thoughts as follows:
“The combination of EIP-1559 and ETH 2.0 will indeed work like a magical chemical reaction and provide real deflation. In terms of total supply, ETH supply is decreasing as more and more tokens are burned every day. This is why ETH becomes far superior to Bitcoin, which has a fixed total supply.”
*Not investment advice.