Renowned crypto trader and analyst Lark Davis spoke more positively than ever about the largest altcoin, Ethereum (ETH).
Despite the high gas fee (commission to miners) that has wreaked havoc on the Ethereum network, the famous crypto asset still shows the potential to be in bull mode, according to Davis.
According to the analyst, instead of focusing on the negative situation created by the ETH fee in the market, it is necessary to see the big picture and focus on the fact that layer two technology is prepared to offer a big solution.
Because Ethereum’s Proof-of-Stake (PoS) will soon fix all these high gas fee issues.
This time, Davis seems pretty confident that the yet-to-be-deployed PoS consensus mechanism will prevent the high fees that have become a nightmare for Ethereum.
Although aware of the negatives of the current situation, “I wouldn’t lose ETH, the second layer is popping up, proof of stake is coming soon.” If Davis is right, this will greatly increase ETH network performance and daily transaction volume.
A lot of people getting salty about #ethereum, and yeah I get it, fees suck.
But I would not fade ETH, layer twos exploding, proof of stake coming soon.
If in doubt zoom out, the big picture for ETH is still very bullish beyond the current fee situation.
— Lark Davis (@TheCryptoLark) November 27, 2021
As a matter of fact, as the analyst said, PoS technology means the blood that ETH investors are looking for. Thanks to PoS, transactions seem to become as smooth as possible.