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Amsterdam
26 January 2022
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Ethereum

Ethereum Shows Bullish Picture Amid High Fees, Says Crypto Analyst

  • Ethereum is still showing a bullish picture regardless of its high fee.
  • The much-anticipated PoS will solve all the ETH high fee issues according to Davis.

One of the crypto traders and analysts Lark Davis is feeling extra positive about Bitcoin’s rival Ethereum (ETH). According to him, regardless of the current high gas fee situation tormenting the Ethereum network, ETH still has a big picture to be in a bullish mode.

He further stressed that the ETH fee is one of the issues that sucks in the market but people shouldn’t just look down upon it. Instead, looking at how layer-two technology has geared up to offer a big solution, Ethereum’s Proof-of-Stake (PoS) will soon come to solve all these high gas fee problems.

Even more, Davis is even confident this time that the yet-to-be-deployed PoS consensus mechanism will provide a simplified solution to curb the high fees that bedeviled the Ethereum network. Without a doubt, this will soon happen to improve the ETH network performance and its daily transactions.

He said,

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“A lot of people are getting salty about Ethereum and yeah I get it, fees suck. But I would not fade ETH, layer twos exploding, proof of stake coming soon. If in doubt zoom out, the big picture for ETH is still very bullish beyond the current fee situation.”

In addition to what Davis said, the PoS technology will be very proactive to bring sanity and make transactions as smooth as possible for anyone holding ETH.

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