I’m going “ETHEREUM ALL IN” beginning next month because millions of dollars are going to be made investing in ETH, Ethereum rollups & Ethereum layer 2s!! Today we reveal why we are going all in for Ethereum on February 15th. Ethereum ETF decision comes early March, Bitcoin should rebound in early march & finally a major upgrade is coming to Ethereum in early March…
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⏰ Time Stamps ⏰
00:00 Intro: The upcoming ETHEREUM opportunity
00:41 ETH performance looking to take even more of a hit?
01:49 SEC delaying BlackRock’s ETH Spot ETF
02:23 Why ETH could crash yet again before a MARCH RALLY
03:59 ETH’s gas problem
04:58 How Rollups aim to solve the gas problem
06:02 How ETH aims to reduce L2 TX fees through ProtoDankSharding in MARCH
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What about Ethereum!!?? When is that ole
Ethereum going to PUMP Tyler?? You said After Bitcoin get’s it’s ETF launched
it’s Ether’s turn….well my frens, That still is the case…Ethereum & Ethereum
Layer 2’s are my plays moving forward into 2024…why is this still my case? Find out in about
ten minutes….because it’s time for Chico Crypto!!! When you look at current stats, Ethereum
looks like a DUD….checking out Coingecko, Ethereum has crashed more than Bitcoin
over the past 24 hours, by .8 percent and Over the past 7 days has crashed
more than BTC by 6.1 percent…. Ethereum is even further down, since the Bitcoin
ETF hype faded…Down from 2.7k January 12th, To 2.2k as of yesterday…a crash of 18.5
percent. While Bitcoin crashed from 48.5k, Down to yesterday’s 39,800…an 18 percent crash… Number 1, this was to be expected…when Bitcoin
has severe crashes…it takes down a vast majority Of the markets with it…and the altcoins, they
crash even harder than BTC…this is clearly Seen from the top 100 coins on Coingecko,
Sats is down over 30 percent the past week, Many are down over 20 percent, and many, many
more are down more than Ethereum’s 12 percent… Also if you didn’t know, just yesterday…Ethereum
got some not so great news!! The SEC announced They were delaying and postponing
Blackrock’s Ethereum ETF decision Until March” and the article says “The SEC
will now face a March 10 deadline to approve, Disapprove or institute additional proceedings on
the proposed fund. Fidelity's application for the Fidelity Ethereum Fund was also delayed,
according to a filing posted last week.” So after all this BAD NEWS
for Ether…why am I still so Bullish on it for the beginning of this year??? Well, let’s just go back to that
article…the next decision deadline For the SEC is coming March 10th…let’s
just hear what I had to say in my last Video posted a couple days ago. I
predicted Bitcoin will crash by a Total of 30 percent, aka it will crash by
another 12 percent over the next 45 days. Bitcoin will crash over the next 45 days, That video was posted January 23rd…let’s just
see what day is 45 days from January 23rd…. Would you believe it?? 45 days
from that video is … .March 8th… So likely Ethereum will crash with Bitcoin early
on, throughout February…but come the first week Of March, and the anticipation that the Ethereum
ETF could get passed…Ethereum is going to start To RIP, especially as Bitcoin has bottomed
out and starts pumping again in Early March!! Although, anticipation of the Ethereum ETF isn’t
the only thing to be bullish about….if you didn’t Know, Ethereum is having a major upgrade getting
ready to go live in the first quarter of 2024… Ethereum Layer 1, the Ethereum
mainchain has had a GAS problem,
High fees users are having to pay
to use the chain. They got crazy, But sustainable in 2017, ridiculous
and unsustainable throughout 2021, and As of today if you are thinking about using the
mainchain, you are going to be paying some FEES!! Sending just ETH is alright, the average cost is
$1.62 cents. But when you get into more complex Transactions, things get stupid….average
cost for swapping is $28.33 cents, NFT sale average is a whopping $47.87 cents,
average for bridging to other chains or roll Ups is $9.11 cents, and doing some borrowing on
the eth main chain will cost you over 24 dollars. This is a major problem, so Ethereum has
a solution called Rollups and Layer 2’s. Right now this works pretty much the same
for every type of rollup, and layer 2. Rollups executes the transaction off the main
chain on a rollup or layer 2 specific chain, It then batches the transaction data, compresses
it, and sends it to the main Ethereum chain, where Many transactions from that rollup are confirmed
together…rollup? Roll transactions up together…. This lower’s the fees paid by users, as we can
see from this table…right now swapping on l2’s Is much much cheaper, ranging from $1.16 on
Starknet…all the way down to just 21 cents On zksync lite aka swapping is 95 percent to
over 99 percent cheaper than the Eth mainchain Although, these fees on the rollups and l2s are
during times of limited market hype…the mass Amount of people pushing transactions onto l2s
hasn’t near peaked…there will be mania, and when That mania comes simple eth transfers could end
up at 5 dollars, with swaps being 10-20 bucks…. Luckily this likely won’t be the case,
even with swaths of new people utilizing The rollups fees are likely going to
stay low…due to a much anticipated, And awaited Ethereum upgrade….the
Ethereum Dencun upgrade, which is Upgrading both the consensus layer
of ETH, and the execution layer…. If you didn’t know, lask week Dencun went
live with one of Ethereum’s testnets, Goerli, And after a short hiccup, and fixing of a bug
with the Prysm client…. it was a rounding success… Well guess what?? Dencun is
getting ready to go live on The 2 last Ethereum testnets….ethereum
devs put out a blog post just yesterday, And this is what they said…”Sepolia
and Holesky will upgrade over the next Two weeks. Dencun will activate on Sepolia
January 30th, and on Holesky February 7th…” So what does this upgrade do? Well in the blog the
Devs of Ether say “The upgrade includes several Changes, most notably the introduction
of ephemeral data blobs with EIP-4844, Also known as "protodanksharding", which
will help reduce L2 transaction fees.” Protodanksharing sounds pretty dank, dank enought
to smoke that shit…but how is this going to help Reduce L2 transaction fees??? Well currently with
rollups, they all use the Ethereum mainchain for Settlement and Data Availability, and rollup the
transaction batches are posted as Calldata to
The ETH mainchain. Calldata posting is expensive
because it is processed by all Ethereum nodes and Lives on the chain forever, even though rollups
only need this data for a short amount of time. Proto Dank Sharding does away with this design.
It implements a new transaction type that will Hold an additional data field called a blob.
Instead of submitting the transaction data To Ethereum as calldata, rollups will now submit
the data as blobs. A blob is contained within the Ethereum beacon client but not the execution
environment itself. These our now separate… Data in these blobs, are under 1MB
are automatically deleted after a Fixed period of 1 – 3 months! This creates
much cheaper L2 transactions, as the EVM Won’t need access to this data, and the Ethereum
mainchain won’t need to hold this data forever… Checking out how much this is projected to reduce Fees by is astonishing. Reducing swaps on
Starknet from 1.16 down to just 12 cents, Almost a 90 percent decrease from current
levels. Optimism will drop to just 4 cents, Arbitrum down to 3 cents, and then Polygon and
zk will drop down to just 2 cents!! rtHOORAH!! So when is this going to go live???
Well in the Ethereum dev blog post, They said “Assuming the Sepolia and Holesky
upgrades go well, Dencun will be scheduled on The Ethereum mainnet next.” So what does this
mean?? Next? Is their an estimation of when That could be? What if I told you this could
be coming to the mainnet in early March??? Well Coindesk put out an article titled
“Ethereum Developers Set Timeline for Final ‘Dencun’ Testnet Upgrades” and the article
states “If all goes according to plan, The final test for Dencun will occur on Holesky
on Feb. 7th. After that developers will ink in A date for Dencun to hit Ethereum’s mainnet, now
targeted for the end of February or early March.” Early March…early march for eth…..when
Bitcoin falls like I expect it to this month, Ethereum will dip harder….but during this DIP,
that is the time to start stacking ETH…because In March serious upgrades are coming….plus you
have the chance that the ETH ETF gets approved… What are the Chico Army’s thoughts on
this? Are you feeling Ether and ETH l2 Bullishness like me? Or are you more bullish
on other l1s like Squalana….I won’t hate, If you are bullish on Squalana, just
lose a bit of respect….and of course Don’t forget to subscribe, hit that
like, and put on notifications. Chico’s Content only gets better with time. So
cheers, I’ll see you that next time!