Ethereum: $100M Fund Goes Ten Years Long on ETH Amid Strong Fundamentals

Ethereum: $100M Fund Goes Ten Years Long on ETH Amid Strong Fundamentals

New Fund Entirely Bullish on Ethereum

For some reason or another, Ethereum (Ether/ETH) has been underperforming Bitcoin since the start of the bull trend. While the lead cryptocurrency is down a relatively mere 60% from its all-time high, ETH is still down by over 75%, still wallowing in the doldrums of bear market territory. Despite this, the cryptocurrency has continued to gain traction.

According to a recent Bloomberg report, Darma Capital, a new $100 million investment fund, will first be focusing on Ethereum. In an interview, Andrew Keys, a pioneer of Ethereum developer and investor ConsenSys turned Darma managing member, revealed that his firm expects for ETH to rally over the next decade, stating that Darma is ten years long. He didnt mention a specific price target, but a fair valuation for the digital asset in Keys eyes are likely much higher than todays $250 valuation.

Keys didnt say how much of the $100 million principal will be divested to Ethereum in particular, but the investor did accentuate that ETH is important because it acts as the equivalent of the [decentralized] web, which firms can build on. In some senses, Ether is like purchasing a stake in TCP/IP.

Darma is expected to soon create similar investment opportunities for other digital assets, namely Bitcoin and the to-be-launched Filecoin, which is one of the least-known yet most popular ICOs in cryptos relatively short history.

ETH Adoption Growing

Darmas stamp of approval comes as Ethereum has begun to gain widespread traction as a platform. Per previous reports from Ethereum World News, the networks fundamentals are well on the rise. The ETH Gas Station revealed that the Ethereum network broke its record for Total Daily Gas Used last week, meaning that the chain is likely processing more data and contract executions than ever before.

This is notable, especially considering that ETH is still down over 70% from its all-time high of $1,400, which came at the peak of cryptomania in early-2018.

This isnt the only sign of surging interest in Ethereum as a platform, not just as an investment. According to a recent tweet from Binances research division, most of the networks other key fundamental signs are flashing green. More specifically, the number of active addresses has reached a ten-month high, daily on-chain transactions are the highest theyve been in a year, and Ethereums market cap is surging to eight-month highs.

This all comes as decentralized finance has begun to drive Ethereum transactions and hype, and as mainstream corporations like Ernst & Young, Samsung, JP Morgan, and dozens of others have started to work with the blockchain and its underlying technology.

Photo byAlexander MilsonUnsplash

The post Ethereum: $100M Fund Goes Ten Years Long on ETH Amid Strong Fundamentals appeared first on Ethereum World News.

07.06.2019 / 00:10 45
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