My Ethereum Bull Case + Bonus: Usecases, What It Is Used For!

First of all i would like to mention that i do not want to hate on other coins, but Data in this post will be compared to other coins to get an idea about what this data means. I firmly believe the majority of coins will have incredible gains this bullrun and some coins will gain more than Ethereum. This is my Ethereum Bull Case.

1: Ethereum is by far the biggest and most used blockchain to date. Even with the HUGE amount of competition that has emerged since it's been created, Ethereum remains the biggest and most used blockchain after all these years. https://defillama.com/chains

Ethereum Mainnet (layer1) currently sits at 60.63% dominance of ALL chains.

2: The success of it's scaling solutions. Ethereum has chosen a long time ago to scale it's decentralized blockchain with Layer 2's. In the beginning there was not much adoption as things were still in heavy development, but it has been an incredible success as we can see in the chart below. https://l2beat.com/scaling/summary

This 60.63% above does NOT include layer 2 TVL, currently sitting at an incredible $30.81B. And Increasing RAPIDLY.

3: Trust, reliability, the teams, past updates and future updates. The incredible people working on making Ethereum cheaper, faster, better and scalable while keeping Ethereum decentralized have a great track record of delivering amazing update after update. Here we can see the Ethereum roadmap by vitalik.

The Ethereum roadmap by Vitalik. The merge, surge, scourge, verge, purge, splurge.

3a.: The Dencun update on March 13th 2024. The major change in Dencun is the introduction of Proto-Danksharding. Proto-Danksharding introduces a new transaction type known as ‘blob-carrying transactions’. It lowers transaction costs for both L2 users, and increases Ethereum's transaction throughput. This will allow massive throughput and open up Ethereum for a huge amount of new use-cases.

These are the projected fee's after the Dencun update.

4: While having the biggest ecosystem, Ethereum also has the most developers by far. 54% of developers currently working on blockchain projects are working on the Ethereum blockchain. https://www.developernation.net/resources/reports

54% Developer majority.

5: The green narrative for Proof Of Stake. Ethereum has slashed its energy use by 99.99 per cent. The world has made a huge shift towards a green planet and lowering our negative impact on the earth. World leaders, Countries, Governments, Companies, CEO's and the everyday people care about these things.

2.601 MWh (0.0026 TWh) annual electricity consumption.

6: EIP-1559 The Burn, Ethereum is deflationary. 1,459,500.46 ETH burned since the merge. Fee burn is a mechanism which destroys ETH base fees paid for transaction inclusion on Ethereum. Fee burn started August 5, 2021 with the activation of EIP-1559. Below we can see the first chart which shows the impact of introducing EIP-1559 and the second chart what would have happened if Ethereum stayed Proof Of Work. https://ultrasound.money/

Visualization of the ETH burn.

Visualization if Ethereum stayed Proof of work.

7: Institutions and Larry Fink want an ETH ETF. There are many ETH ETF applications currently running, the ONLY requested ETF by all these institutions after Bitcoin. Grayscale won the BTC ETF lawsuit because they allowed a BTC futures ETF, so they were forced to allow a spot ETF. Ethereum also has a futures ETF! And Larry Fink wants it, Larry Fink does not lose, he wins. https://blockworks.co/ethereum-etf

8: Larry Fink Sees Tokenization of Financial Assets as Next Step. https://www.youtube.com/watch?v=HTveRlW7QPo

9: The amount of supply staked. Currently at 26% and rising fast. Imagine the supply locked up in DeFi as well, There is NOT enough ETH. If an ETF is approved we could see a huge supply crunch.

ETH supply staked.

10: The future with potential Staking ETH ETF's. I believe these won't be approved yet but they will be a reality in the future. There are already approved staking ETH ETF's in the world and one day there will be in America. There are already applications underway. Imagine TradFi boomers having access to staking yields with an asset that has this much promise. https://21shares.com/product/AETH

11: The first bullrun for ETH with POS (proof of stake) and the burn. The Chart below is what happened to ETH last bullrun, what will happen this time when there are massive amounts of ETH being burned, locked up in staking and DeFi, and a potential ETF mass buying?

https://preview.redd.it/t547e4j6iqlc1.png?405&format=png&auto=webp&s=e6bbaa06a44b856075124c2a6c7495267530a5d6

12: Restaking. The development of Ethereum restaking platforms presents exciting opportunities for innovation and growth within the staking ecosystem and could become one of the biggest narratives and fastest growing bussiness. deep-dive-into-eigenlayer-etherfi

13: And lastly... ladies and gentlemen, i present you USECASES. What is it even used for? We see this question by no-coiners and crypto haters a lot. Credit to u/bitzgi on /Ethfinance, one of the most amazing communties for Ethereum discussions if i may add!

???? PAYMENTS & STABLECOINS: Direct payments; nearly free and instant, cross-border, available 24/7/365; stablecoins

????SELF CUSTODY & WEALTH STORAGE: (Re-)Staking rewards and burning EIP-1559 can be compared to dividend payments and share buybacks

???? DeFi LENDING: DeFi lending platforms help people borrow and lend funds which allow the crypto holders to earn income

???? DIGITAL IDENTITY: Control and ownership of your digital identity and personal information (e.g. ‘Sign In With Ethereum’ SIWE allows a user to use their ETH address to log on to websites without the website knowing any other information)

???? LOGISTICS: Track shipments and inventory through the supply chain and verify authenticity of high value items

???? DAOs: DAOs as innovative and efficient frameworks for governance and collaboration; successful DAOs are using Ethereum for fundraising, governance and organization (e.g. very lean and profitable protocol Uniswap)

???? TOKENIZATION: Cheaper and transparent trading and T+0 settlement of securities, bonds, commodities, etc.; increased access for regular people to investments normally reserved for high net worth individuals and organizations

????️ LEGAL PROCEEDINGS: Own and control your own property & real estate, health, or education records, allow access as you deem necessary to ensure efficient legal proceedings

???? DIGITAL WATERMARKS: Digital watermarks on Ethereum in the new world of deepfakes; show authenticity of documents, photos, videos, ideas, contracts or anything by creating an open timestamp or the hash of it

???? DATA STORAGE AND WEB HOSTING: Affordable web hosting and decentralized data storage; decentralized domain names of Web3 apps on IPFS via ENS

???? MICROPAYMENTS: Automated micropayments integrated with website browsers for fair and direct compensation to content creators, open source developers, news organizations, etc.; valuable in highly connected IoT and autonomous world

????️ VOTING: New trustless voting, polling, and election systems

???? GameFi: Digital collectibles and video game integration

???? MUSIC & ART: Artists sharing royalities with fans; activate and engage a fan base

????️ EVENTS: Simpler ticketing platforms for live events; control abusive scalping

???? MARKETING: Prove ownership and transfer rights to physical goods; customer reward programs through collectibles of brands; personalized marketing, tailored consumer experiences, unique customer engagement opportunities

???? DeSci: Fixing academic research; DeSci facilitates the creation of decentralized platforms where scientific knowledge is accessible globally. Researchers can share findings, collaborate, and access data without traditional barriers, fostering open access to information

????️ TRUSTLESS ORGANIZATIONS: Holding governments and public organizations to higher standards of honesty and preventing fraud and corruption; proof of collateral reserves by financial service providers

???? GAMBLING: Fair and transparent online gambling platforms

???? PREDICTION MARKETS: Decentralized prediction markets enable people to buy and sell contracts on future events

Ladies and gentlemen, i wish you all the gains in the world this upcoming bullrun! Good luck and stay safe in this crazy crypto world ;)