bit of a head and shoulders look here... Thoughts? down or up?
short term im not sure how ETH gets through 2k and must break 1870 1900 decisively or some sustained sideways as BTC and alts catch up to eth a bit.
So much money in ETH makes me a bit nervous due to its a great jump off a point ie easy to miss a pump or dump... the money is where it needs to be stationed at the gateway to crypto-verses not 3 blockchains deep in some random avax or BSC alt project etc.
The other part that has me nervous here is all the ETH getting staked on L2. (this is the upgraded ethereum network the ETH team is preparing to launch next winter)
_First we have watched numerous date changes and push backs with launching V2 ethereum or layer 2 eth. (this is fairly common in this frontier tech and finance wild west world, much more so then any other industry it very common to change release dates and other upgrade launch plans in any and every crypto project) yes we have some of the smartest minds in the world working on this but that still doesnt change the facts that all this tech not to mention integration into current tech and markets presents a mess of a swamp of issues to be overcome/addressed. This is a major road block that presents exponential amount of variables and issues that will need to be slowly and steadily addressed. IN SHORT if you aint used to this wild west, none to barley any rules, finance and investment world that is crypto then of course you would think, "even if not launched as planned how much longer would it even take to get sorted out, these are some of the smartest tech and hopefully finance minds in the world, so how do they not figure that one out.
This is a worse version of the whole CEL and Voyager and N17 fund going down and yes much of their value was locked on layer 2 ethereum staking projects etc. the problem with a large set of dominoes strucred after our current micro banking networks and strategies is that the playing field rules and tech are always shifting and changing in crypto at present. what if this or that project or group promises x percent return on x amount of time for staking their eth. ok great the problem is the underlining assets supporting the value of these payouts are contingent on market conditions playing out in concert with emerging tech and this layer 2 project happening on schedule .... anyone else see any potential problems here>?
So much money in ETH makes me a bit nervous due to its a great jump off a point ie easy to miss a pump or dump... the money is where it needs to be stationed at the gateway to crypto-verses not 3 blockchains deep in some random avax or BSC alt project etc.
The other part that has me nervous here is all the ETH getting staked on L2. (this is the upgraded ethereum network the ETH team is preparing to launch next winter)
_First we have watched numerous date changes and push backs with launching V2 ethereum or layer 2 eth. (this is fairly common in this frontier tech and finance wild west world, much more so then any other industry it very common to change release dates and other upgrade launch plans in any and every crypto project) yes we have some of the smartest minds in the world working on this but that still doesnt change the facts that all this tech not to mention integration into current tech and markets presents a mess of a swamp of issues to be overcome/addressed. This is a major road block that presents exponential amount of variables and issues that will need to be slowly and steadily addressed. IN SHORT if you aint used to this wild west, none to barley any rules, finance and investment world that is crypto then of course you would think, "even if not launched as planned how much longer would it even take to get sorted out, these are some of the smartest tech and hopefully finance minds in the world, so how do they not figure that one out.
This is a worse version of the whole CEL and Voyager and N17 fund going down and yes much of their value was locked on layer 2 ethereum staking projects etc. the problem with a large set of dominoes strucred after our current micro banking networks and strategies is that the playing field rules and tech are always shifting and changing in crypto at present. what if this or that project or group promises x percent return on x amount of time for staking their eth. ok great the problem is the underlining assets supporting the value of these payouts are contingent on market conditions playing out in concert with emerging tech and this layer 2 project happening on schedule .... anyone else see any potential problems here>?
Commento:
what if we see a sharp decrease in network use (this is what funds layer 2 returns on investments. ie the more nodes staked on eth layer 2 ((each node at present contains 32 eth)) the larger your return on investment will be) then people running nodes borrow eth and offer x amount in returns.) the more you make of network traffic. but if no one uses this network then you dont get paid. When vitalik undertook this layer 2 push he was projecting 3 to 7 percent returns if that. I believe the most recent figures I saw was last feb or later and at closer to 20 percent annual return and this does not count appreciation of that asset "ETH" it self. Look all in all im all in on crypto and esp ETH my worry here is with the traditional finance current micro banking type leverage investment thinking one swerve or bump on this bus could set off a round of falling dominoes that makes this most recent Three Arrows Capital (3AC) look like a dip in the lake... 3AC has not repaid a $650 million loan. this is the fund that took down Celsius project and the Voyager exchange among many others
Commento:
what if the market dumps rite around the time of the release of all layer 2 funds
Commento:
what if they through some other wrinkle in this we did not foresee like penalties for early withdrawal or any withdrawal of a node ie must have original 32 eth at the least or something like that.
