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Ethereum has been making lots of headlines this year due to the various achievements of the projects. An upgrade is also around the corner as you probably know by now.
It’s been just revealed that Goldman Sachs is currently analyzing ETH and the firm believes that the coin could replace BTC as a store of value.
It’s been revealed by the online publication the Daily Hodl that the financial giant says that while BTC has the stronger brand, Ethereum likely has the highest number of real use cases.
Business Insider noted that the bank does not see either Ether or Bitcoin taking over gold anytime soon.
This could be because of the extremely volatile nature of cryptos which will prevent them from being seen as a safe asset class.
“Gold is competing with crypto to the same extent it is competing with other risky assets such as equities and cyclical commodities. We view gold as a defensive inflation hedge and crypto as a risk-on inflation hedge.”
We suggest that you check out the complete notes in order to learn all the available details.
Regarding the price of ETH, at the moment of writing this article, ETH is trading in the red and the coin is priced at $2,104.
Ethereum price is about to explode
A few days ago, we were revealing that the crypto trader and influencer Lark Davis said that there are four catalysts that could ignite a major Ethereum rally in the near future.
In a video, he explained the reasons for which he believes ETH is set to take off.
First of all, he said that in June, ETH had about 200,000 more daily active addresses than Bitcoin.
He talked about the fact that Ethereum has a large number of use cases relative to other crypto assets.
Also, make sure to check out the video above in order to learn more details.