Altcoin Daily sees potential for 10x Ethereum growth

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The Altcoin Daily YouTube channel with 1.3 million subscribers shared a video about the prospects for Ethereum, which the publication’s analysts see as quite rosy, despite the weeks of bearish trend.

One of the main factors in favor ofEthereum's growth, according to analysts, is the number of smart contracts that are deployed on the platform. According to Altcoin Daily, it has increased by 293% in 2022 and indicates an increase in the value of the asset during the next bull trend.

Particular attention is paid to the number of people burnedtokens. Since EIP-1559, $4.6 billion worth of Ether has been destroyed. This was mainly due to the large number of decentralized applications developed on the platform. NFTs and DeFi on the platform are fueled by the burning of ether, in particular through Open Sea and Uniswap.

Another growth factor for Ethereum in AltcoinDaily calls the implementation of the sign-in feature “a game changer.” The feature will allow users to log in using keys that control blockchain accounts, eliminating the need for intermediaries.

Previously, members of the XRP community stated that, contrary to some spiteful critics, they “don’t hate Ethereum.”