THE MOST POWERFUL ASSET MANAGER IN THE WORLD IS INVESTING IN CRYPTO

It was clear that Ethereum on the Proof of Work consensus could not handle thousands of transactions per second that will come from mainstream adoption. While PoS does nothing about scalability, in fact in were three other advantages that Vitalik highlights but Proof of Stake could enable other scalability issues. In December 2020, the Beacon chain was launched as the if the step of Ethereum's transition to Proof of Stake. At that time, that chain ran parallel to the Proof of Work mainnet and the validator of the Proof of Stake must lock or stake the network token for a specific time become a validator, get a reward for the security of the network, and validate the transaction. In the Ethereum case, validators have to stake 32 ETH for an unknown period of time. At that time in 2020, it was a one-way road where the validator took the risk to secure the network without knowing if the new network would ever go live. At that time, it was unclear how long the developers would need to ensure a safe transition to Proof of Stake.

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Back in 2020, more than 18,000 validators took that risk and staked over 600,000 ETH which was the threshold to start the validation process of the Beacon chain. At that time it was worth a little lower 360,000 million dollars. The development team keeps building for nearly two years so that the Proof of Stake could take over. Finally, the merge went live in September 2022 without any issues, and that was the point the new chain took over.

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Most people thought Ethereum would dump on the unlock of staked ETH. Going through the actual number, it was very clear that the downward pressure would be moderate. While getting this unlock behind us, it is a major risk removed from the market. So I felt the price would pump which it did and there is even more remove to celebrate. This rally is the most hated rally in my opinion which means almost everyone are sideline just as they were bullish through 2022 and only flip bearish toward the downside trend. They are now not able to switch gears and remain bearish even those the trend has been established as up.

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The most powerful asset manager in the world (Blackrock) is investing in crypto and which is a specific cryptocurrency. The CEO of Blackrock Larry Fink believes the next generation of security is the tokenization of securities. It is because every individual will be able to have that distributed ledge. It is good news that Blackrock is interested in cryptocurrency, on the other hand, Larry Fink's friend Hillary Clinton going around saying Bitcoin could potentially undermine the role of the US dollar as the world reserve currency. You should remember that Larry Fink also use to beef crypto back in 2018 just as Hillary Clinton is doing now. Do not let Hillary Clinton or anyone convince your that crypto is going to zero. BlackRock is diving into the world of crypto, they are actually investing in Ethereum. Larry Fink said open, permissionless, and decentralized Altcoin will change everything and it will be just like investing through ETF.

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