The Future of Ethereum in a Meme: Ultrasound Money
The “ultrasound money” meme has been running in Ethereum based circles for some time, gaining momentum as the asset rises and rises in value during this bull market. While it is considered a joke by many, like a myriad of memes, it hides a very complex array of factors that contribute to Ethereum’s newfound status. However, it is not without its critics from the Bitcoin side. The ‘Ultrasound Money’ Meme Explained If you have mingled in inner Ethereum cryptocurrency circles, you probably have heard the words “ultrasound money,” used as a meme to....
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“With $13 billion worth of Ether locked up in Ethereum 2.0 and $70 billion locked up in decentralized finance, we have enormous demand for the Ether token,” said ConsenSys founder Joe Lubin. ConsenSys founder and Ethereum (ETH) co-founder Joseph Lubin has implied that Ethereum is transitioning to “ultrasound money” status ahead of the London hard fork slated to activate around 12:30 pm UTC Aug. 5. During an interview with Bloomberg TV, Lubin was questioned on the imminent EIP-1559 upgrade, which will see Ethereum transition away from a bidding-based fee market to a fixed price and burn....
The Ethereum supply has experienced an uncharacteristic uptick in the space of a month, raising concerns about the cryptocurrency’s inflation risk among ETH investors and community members. Ethereum Inflation Crisis Since the beginning of 2023, Ethereum, the world’s second-largest cryptocurrency has experienced fluctuating inflation rates in ETH’s money supply. According to the Ultrasound Money website, […]
Shark Tank star, “Mr. Wonderful,” argues that Ethereum is destined to become “ultrasound money” once its chain merge occurs. Canadian entrepreneur, investor, and reality television personality, Kevin O’Leary — also known as “Mr. Wonderful” — appears to now be singing Ethereum’s praises as a deflationary asset.Clearly reading from a script, O’Leary took to Cameo — a website that allows users to purchase personalized video messages from celebrities — to espouse the benefits of Ethereum’s August 5 London upgrades. Most notably, the upgrades saw EIP-1559’s highly awaited burn mechanism....
With the rise of NFT’s and alternate cryptocurrencies, meme coins such as Dogecoin (DOGE), Shibu Inu coin (SHIB), and Mona coin (MONA) are becoming increasingly popular. Traders can find all the major meme coins here. But, what is the future of meme coins and what affects their market price? In short, the future price of […]
Ethereum miners have sold over $40 million worth of ETH because of the Merge and plummeting revenue. Ethereum's switch to proof-of-stake (PoS) on Sept. 15 failed to extend Ether's (ETH) upside momentum as ETH miners added sell pressure to the market. On the daily chart, ETH price declined from around $1,650 on Sept. 15 to around $1,350 on Sept. 20, an almost 16% drop. The ETH/USD pair dropped in sync with other top cryptocurrencies, including Bitcoin (BTC), amid worries about higher Federal Reserve rate hikes.ETH/USD daily price chart. Source: TradingViewEthereum remains inflationaryThe....