What happened?
Ethereum co-founder Joseph Lubin predicts that Ethereum’s value could multiply by 100 times due to Wall Street’s adoption of decentralized technology. Lubin suggests that Ethereum could surpass Bitcoin’s monetary base, a scenario known as the “flippening”. He believes Ethereum will replace outdated infrastructure systems in large institutions like JPMorgan and become the backbone of financial markets.
Who does this affect?
This affects everyone involved in the cryptocurrency market, especially investors and financial institutions. Institutions operating multiple siloed systems, such as JPMorgan, could save billions by transitioning to Ethereum-based systems. On the investor side, if Lubin’s predictions hold, those investing in Ethereum could see substantial returns.
Why does this matter?
This matters because Ethereum’s potential 100-fold surge, spurred by Wall Street’s adoption, could significantly reshape the cryptocurrency hierarchy and financial infrastructure. Ethereum surpassing Bitcoin’s monetary base could have an extensive impact on the crypto market. This transition also provides a promising potential for cost-cutting for financial institutions currently managing multiple systems.