Although the recent rally appears to have briefly dipped down, the price of Ethereum is still on an upward trajectory, showcasing its resilience as a formidable digital asset. Presently, the crypto sector is undergoing a crucial shift, and ETH, once viewed as a mere digital asset, is now being considered the ideal choice for a store of value and treasury asset.
SharpLink CEO Hails Ethereum As The Treasury King
Amid Ethereum’s ongoing upward trend, a new debate is now being observed among prominent figures and institutions in the dynamic financial landscape. This debate coincides with the growing belief that ETH could be the next big thing in crypto finance.
Joseph Chalom, Co-CEO of SharpLink Gaming, has caused a stir in the cryptocurrency community after proclaiming Ethereum the superior treasury asset compared to Bitcoin, the leading digital asset. While being a Maxie on tokenization, Chalom believes both Bitcoin and Ethereum are dominating this part of the sector. “I think there is a role for Bitcoin in every single person’s portfolio, and I think there is a role for ETH,” he stated.
However, the CEO has put ETH ahead of BTC as the smarter long-term choice for corporate treasuries looking beyond simple digital reserves. Chalom’s statement implies that Ethereum is a more dynamic store of wealth for contemporary businesses due to its utility-driven ecosystem, staking yields, and rapid integration throughout decentralized finance.
One of the major reasons Chalom has hailed ETH as a better treasury asset than BTC hinges on their distinct volatility, with the altcoin having a 40% volatility. Although it is not certain, the CEO stated that the spot ETFs caused many BTC to be held without trading, leading to a decline in BTC’s volatility.
As a result, Chalom thinks ETH is an ideal store of value since it is more productive and deflationary, which are key factors to consider when building a digital treasury. Another factor that pushes ETH ahead of Bitcoin is staking. Owning and staking ETH also comes with several benefits.
According to the CEO, a staked ETH is equivalent to revenue in public companies, as they trade on valuations. Furthermore, Chalom reveals that large investors holding billions worth of ETH can go into the DeFi ecosystem and make a difference. With the massive holdings, these investors can raise the standards of DeFi by king-making protocols and creating beneficial incentive structures without necessarily taking more risk.
A Massive Portion Of ETH Staked Within The Week
Since the beginning of the week, on-chain data shows that a significant amount of Ethereum has been staked. Specifically, this large ETH staking is being carried out by the leading asset management firm, Grayscale, signaling growing institutional confidence in the network’s long-term potential.
As reported by Ted Pillows on X, Grayscale has staked over 1,161,600 ETH, valued at a whopping $5.1 billion, in the past week. According to Pillows, retail is exiting liquidity on BNB Chain memes while in Ethereum, smart money is positioning itself. “No wonder most people have lost money this cycle,” the crypto pundit added.
Featured image from Pxfuel, chart from Tradingview.com
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