Ethereum’s the new ‘silver’ of the crypto market, but it’s imperative to have solid asset backing, says Crypto expert
Q1 2021 hedge fund letters, conferences and more
Ethereum Is Becoming The New Silver
Gregory Klumov, CEO of STASIS, EXANTE’s sister company, has said that Ethereum is vastly becoming the new silver of the crypto market, however, he’s compared the crypto industry to a casino, with everyone piling in to try and make a quick profit. He says that this could be dangerous and therefore investors need to protect themselves with a solid asset backing.
Gregory says: “The cryptocurrency industry is gradually becoming a casino since many people are afraid to miss out on another no-brainer approach and the right moment that brings them magical internet money in no time.
“Therefore, at this stage, altcoins are attracting more retail non-professional investors. This category of investor is more prone to panic, so the inability of Bitcoin to confidently overcome the $60,000 mark shortly may well provoke a sale in both directions at once. If BTC faces a fierce sale, as practice shows, alternative cryptocurrencies are selling even more active no matter how bright the altcoin season is.
Ethereum (ETH) has hit an all-time high in recent days and will continue to go up. Investors have joined forces and accumulating the "silver" of crypto in anticipation of further gains. It's therefore imperative to start your journey here with a solid asset backing your ground. EURS is one of the most transparent stablecoins and a perfect asset for an on-ramp and off-ramp in the digital asset field,” he concludes.
