*|MC:SUBJECT|* *|MC_PREVIEW_TEXT|* | Good morning, crypto fans! Time to rise and shine and take your weekend Ethereum elixir with Mad Mike.
This coming Tuesday, ether ETFs issued by the following eight asset managers will begin trading:
BlackRock · Ark Invest/21Shares · VanEck · Grayscale · Fidelity · Bitwise · Franklin Templeton · Invesco
In this update, I will explain why every portfolio should have some exposure to this very promising digital asset.
But first…here's where we ended the exceptionally positive week 👇 - Bitcoin (BTC): +8%
- Ethereum (ETH): +6.5%
- Solana (SOL): +14%
- Crypto Commission at tastytrade: $0
| | Bringing ETH To The Masses | | | On May 23rd, 2024, the SEC did the unthinkable and approved spot ether ETFs. | | I remember exactly where I was when I got this notification on my phone - hiking through the small Italian coastal village of Santa Maria di Castellabate, looking for a spot to grab a cappuccino.
I turned up to share my shock with the world, but all I found were four older Italian men squeezed together on a bench. Don't ask me why I took a picture of them👇 | | The moment actually excited me more than even the approval of Bitcoin ETFs last year. Bitcoin bores me to death. It's called digital gold for a reason—it just sits there and shines its digital shine.
Ethereum, on the other hand, has a pulse. It offers all the benefits of Bitcoin (though some argue it's slightly less secure) but can also power and run an entire economy. Hell, it can run the world. Even Jamie Dimon sees the potential in smart contract hosting blockchains!
And what can you do with Bitcoin? Maybe buy a café con leche in some restaurant in El Salvador.
This week, we explore Ethereum: its history, capabilities, and future potential. | | | Most significant inventions and innovations arise from dissatisfaction with an existing system.
That was the exceptionally nerdy case with Vitalik Buterin when he conceived Ethereum back in 2013👇 | | | Tom Sosnoff, the founder of all things tasty and thinkorswim, actually interviewed Vitalik when he was just 20 years old! Do you think he foresaw that this kid would be worth billions someday? Doubtful!
Here's the full interview between Tom Sosnoff and Vitalik Buterin, where Buterin explains what Ethereum is and its potential capabilities. Pipe dreams at the time. 👇 | | | To understand the benefits of Ethereum, you must first understand blockchain and the limitations of Bitcoin. So, let's get started here. | | - Value Transfer: Both Bitcoin and Ethereum can transfer value.
- Store & Run Code: Only Ethereum can store and execute smart contracts.
- Support DApps: Ethereum supports decentralized applications (DApps), while Bitcoin does not.
| | | Both Bitcoin and Ethereum are blockchain networks. The core features and functionalities of all blockchains are quite similar.👇 | | Think of Bitcoin as a secure vault designed to store and transfer digital value. Its blockchain records transactions, exactly like entries in a ledger, but cannot store or run complex code. Bitcoin layer 2s allow for some half-ass code storage, but we focus only on native Bitcoin here.
Ethereum, on the other hand, is like a multifunctional digital server. Its blockchain not only handles transactions but also stores and executes smart contracts. These contracts are self-operating programs acting autonomously, almost like vending machines. | | Smart contracts power decentralized applications (dApps), acting as the backend for user-friendly services. This ability to support dApps and automate processes gives Ethereum incredible potential, enabling a wide range of decentralized services and innovations far more efficient than the Web2 world we rely upon today.
Decentralized exchanges are the most popular category of dApps today. Here's how they work: | | Ethereum is to Web3 what the Internet is to Web2. It serves as the fundamental layer upon which decentralized applications are built. However, unlike the Internet, you can directly invest in Web3 by buying ether, which is pretty cool.
If Web3 succeeds, Ethereum will succeed. It's that simple. Given its efficiency, I find it hard to believe that Web3 won't soon grow exponentially, specifically in transactional-heavy fields like finance. | | ETH Price Action Post-Launch? | | | Easy - I have no idea what the price action of ETH will be post-launch.
I'm by nature a long-term opportunistic investor. I believe it is ridiculous to speculate on short-term price movements. Anyone who can consistently profit from short-term price movements has information the wider world doesn't have access to.
But I do see a long-term opportunity in Ethereum. Here's why 👇 - Millennials love crypto, and they're soon to inherit a shitload of cash
- Institutional money will inevitably poor into ETH post-ETF launch
- The AUM for Bitcoin spot ETFs is currently $57 billion
- Trump is now 'pro-crypto' and he has a 67% chance of winning
| | | If you'd like to learn more about Ethereum, check out some of our content here. 👇 Peas out, tasty world ✌️
- Mad Mike | | | | | |
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tastycrypto is provided solely by tasty Software Solutions, LLC. tasty Software Solutions, LLC is a separate but affiliate company of tastylive, Inc. and tastytrade, Inc. Neither tastylive, Inc. nor tastytrade, Inc. are responsible for the products or services provided by tasty Software Solutions, LLC. Cryptocurrency trading is not suitable for all investors due to the number of risks involved, including volatile market prices, illiquid market conditions, lack of regulatory oversight, market manipulation, and other risks.
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