Analyst Deems Investing in Ethereum (ETH) ‘So Stupid,’ Recommends Better Crypto to Invest In
In a controversial social media post, a crypto analyst with the online handle “@24hrscrypto1” has harshly criticized investing in Ethereum (ETH), the second-largest cryptocurrency by market capitalization. The analyst claims that putting money into ETH is “so stupid” and advocates instead for investing in Ripple’s XRP token.
The crux of the argument rests on comparing the potential gains from a $50,000 investment in each cryptocurrency. According to the analyst’s calculations, $50,000 would purchase around 16.2 ETH at the current price. Assuming ETH reaches $15,000 per coin, which is considered an optimistic outlook by the analyst, that investment would be worth $243,000.
In contrast, the same $50,000 could buy 96,153 XRP tokens. If XRP, which currently trades at around $0.52, were to reach $10 per token, that investment would balloon to a staggering $931,530 – nearly quadruple the projected value of the ETH investment.
The analyst dismissively refers to Ethereum investors as “dummies” and emphatically urges them to “wake up” and sell their ETH holdings, predicting that this advice “will age real well.”
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Show more +It’s worth noting that the projected price targets used in these calculations are speculative and do not necessarily reflect expert analyses or the overall market consensus.
For context, Ethereum is a decentralized blockchain platform that enables the creation of decentralized applications and smart contracts. Its native cryptocurrency, ETH, is used to pay for transactions and computational services on the network.
Ripple, on the other hand, is a technology company that has developed a payment protocol and currency exchange network focused on facilitating fast and low-cost cross-border transactions. XRP is the native cryptocurrency of the Ripple network.
The analyst’s comments have sparked debate within the crypto community, with some agreeing with the contrarian stance and others vehemently defending Ethereum’s long-term prospects and technological advantages over Ripple.
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