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Ethereum Network Use Skyrockets, Further Proving That $3K Is Totally a Realistic ETH Price Target and Not Just a Wild Guess Made By Someone Who Has Way Too Much Time on Their Hands

Ethereum 2 Barry Thompson August 15, 2024

An illustration depicting a rocket ship blasting off into space with flames erupting from its engines as it soars above an image of Ethereum's logo. The rocket passes through layers of clouds representing different blockchain solutions and decentralized applications on top of each other before reaching the sky, symbolizing growth in activity and adoption. In the background, there is a faint outline of traditional finance investors looking up at the rising rocket with hopeful expressions, while others are shown holding briefcases filled with money as they look away from the scene.

The eternal optimism of cryptocurrency enthusiasts never ceases to amuse me. “Ethereum’s scaling solutions are a success!” they cry, as if somehow magically making transactions cheaper and faster on a blockchain that was designed for nothing more than getting rich quick schemes and ponzi scams.

Meanwhile, the Ethereum network continues to guzzle energy like there’s no tomorrow (because, let’s be honest, it might not have one). And those scaling solutions? Just Band-Aid fixes on a fundamentally broken system. It’s like trying to hold back a tsunami with toothpicks.

And don’t even get me started on the fees. $3.85 per transaction is still an outrageous amount of money for what amounts to nothing more than digital IOUs. But hey, at least it’s not as bad as some other cryptocurrencies out there… right?

The only thing that’s going up in value here is the number of people who are getting fleeced by this Ponzi scheme. And I’m sure Grayscale will be happy to take their cut from those poor suckers.

Source: cointelegraph

Increasing Ethereum network use strengthens the case for ETH price rally to $3K
https://cointelegraph.com/news/increasing-ethereum-network-use-strengthens-the-case-for-eth-price-rally-to-3k
Ether (ETH) rallied 16.2% on Aug. 8, but struggled to maintain levels above $2,600 on Aug. 9. Despite encountering stronger-than-expected resistance at $2,700, Ether remains well-positioned to extend its bullish trend, supported by a more favorable macroeconomic backdrop and heightened activity on the Ethereum network and its layer-2 solutions. Some investors argue that outflows from the spot EtherETFs have been a drag on its performance. However, this could change as […]

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About the author

Barry Thompson

Barry’s crypto nightmare began when he bought Bitcoin at $3, thinking he’d stumbled upon the financial opportunity of a lifetime. He sold his stash at $100, only to watch in dismay as Bitcoin soared to absurd heights. Now, Barry channels his rage into scathing articles about the crypto circus, seething with resentment at the digital gold rush he barely missed. His motto: “I sold out at $100, but the joke’s on me because the real joke was believing in this absurd circus.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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