Cameron Winklevoss Believes ETH Is The Most Underpriced Crypto

Cameron Winklevoss believes that ETH is the most underpriced cryptocurrency in the crypto space at the moment as we can see more in today’s Ethereum news.

The co-founder of Gemini Cameron Winklevoss believes that ETH is 50% away from its all-time high of $1400 and is an underpriced cryptocurrency while in comparison, BTC surged about 50% from the previous record-high:

 “Ether $ETH is 50% off of its all-time high. It’s easily the most underpriced crypto in the word right now.”

There are a few key reasons to be optimistic about the ETH price in the medium and long term. First, the number of whales accumulating ETH increased according to Santiment. Analysts at the analytics company said that the number of whales holding Ethereum increased in the past two months:

 “With $ETH crossing $750 for the first time in 31 months, we’ve discovered that there are 39 more #Ethereum addresses holding 10,000+ $ETH compared to just 2 months ago. Meanwhile, the amount of addresses holding 1-10,000 $ETH have shrunk over this time.”

The trend shows that the confidence among the long-term holders and high-net-worth investors increasing. ETH2 launched later which was expected to scale the Blockchain network over time and this will enable decentralized finance to grow exponentially over the upcoming years. The total value locked in Defi surpassed $14 billion after hitting $16 billion with the coin getting cheaper to use through ETH 2 with DeFi being able to grow much faster.

Based on the strong fundamentals of ETH and the ever-increasing accumulation of coins by whales, investors are positive about ETH. Tyler Winklevoss who is the CEO of Gemini said that he has a huge holding of Ethereum for many years as he said:

 “We’ve had a big bag of $ETH for many years. @Gemini was the first exchange in the United States to list ether in 2016 ( @NYDFS approved no less). Happy new year!”

In 2021, the analyst await ETH to rally especially as the CME Ether futures listing came closer. CME which became the largest BTC futures exchange by open interest will list Ethereum in February. The confluence of the listing and whale accumulation will expectedly drive the prices higher in the crypto space. Investor dubbed Aftab said:

 “The long-term value of $ETH as gas is: 1) creates durable, utility-driven demand (not just memes) 2) being needed by all users enhances overall ubiquity & desirability 3) burning mechanism (under EIP-1559) destroys supply All of these reinforce ETH’s role as a SoV.”