Crypto asset manager Bitwise says that Ethereum (ETH<\/a>) is an \u201cunstoppable force\u201d that is vastly improving the efficiency of the traditional financial system.<\/p>\n According to Bitwise, which was handling<\/a> over $2 billion in assets under management from its BITB Bitcoin (BTC<\/a>) exchange-traded fund (ETF) alone as of March, Ethereum is superior to TradFi when it comes to wire transfers, international withdraws, and transactions.<\/p>\n \u201cEthereum Lowers Transaction Costs by Orders of Magnitude. Ethereum is a 10x cost improvement (or more) over legacy financial rails. Historically, technology that\u2019s 10x better at something is an unstoppable force.\u201d<\/em><\/p>\n Bitwise also compares Ethereum\u2019s revenues to large public companies, noting that the top smart contract platform is already pulling in bigger numbers than Robinhood, Etsy or Moderna.<\/p>\n \u201cCrypto Applications Built on Ethereum Produce Comparable Revenues to a Selection of Public Companies. These applications are a testament to the resilience, creativity, and vision of the global crypto industry, and they serve as a reminder that crypto is fast becoming a pivotal part of everyday life.\u201d<\/em><\/p>\n In a new memo, Bitwise CEO Matt Hougan says<\/a> crypto has successfully built \u201cpolitical muscle\u201d in recent years, including one of the top political action committees in D.C.<\/p>\n Hougan says that if everyone truly understood the significance of the recent shift in Washington, crypto markets would already be at all-time highs.<\/p>\n \u201cThe reason this smells like alpha to me is that, outside of the crypto bubble, no one cares.<\/em><\/p>\n I\u2019ve been on the road speaking at conferences for the past few weeks and, try though I might, I cannot get this story to resonate with people. I talk about the votes, and Warren\u2019s anti-crypto army, and the surprise progress on Ethereum ETFs, and people\u2019s eyes glaze over.<\/em><\/p>\n The story is too complex, and the impact too far removed. After all, no policies have actually changed in Washington yet. SAB 121\u2019s repeal was vetoed; FIT21 is unlikely to make it through the Senate before the elections; and the Ethereum ETFs haven\u2019t actually launched.<\/em><\/p>\n The tide has changed, but the water hasn\u2019t come in yet. Wake me up when the action happens.<\/em><\/p>\n But here\u2019s the thing: If people understood the ramifications of the shift in D.C., the crypto market would be at new all-time highs.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Crypto asset manager Bitwise says that Ethereum (ETH) is an \u201cunstoppable force\u201d that is vastly improving the efficiency of the traditional financial system. According to Bitwise, which was handling over $2 billion in assets under management from its BITB Bitcoin (BTC) exchange-traded fund (ETF) alone as of March, Ethereum is superior to TradFi when it […]<\/p>\n","protected":false},"author":2,"featured_media":119608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-322282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/322282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=322282"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/322282\/revisions"}],"predecessor-version":[{"id":322284,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/322282\/revisions\/322284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/119608"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=322282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=322282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=322282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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