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Is Matic a bearish force on Ether?

Is Matic a bearish force on Ether?

Etherum Reddit

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The general consensus was that you should hold Ether because the adoption of ERC20 tokens will rise and therefore the demand and price for Ether will rise. But now with a chain like Matic that is syphoning demand for Ether away, the thesis for holding Ether dies because now people will be using Matic and not Ether.

When presented with 2 options to achieve the same exact thing, and one option costs way less than the other, you are going to use the cheaper option. I fear that Matic will send Ether into a death spiral over time because what is the purpose of using Ether when you have Matic?

submitted by /u/ShotBot
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