A crypto analyst asks the crypto community to accumulate more leading altcoin Ethereum tokens. The analyst references the 2022 growth in the number of BTC and ETH holders. Meanwhile, crypto enthusiasts are voicing their concerns that ETH is becoming more decentralized.
“Leading altcoin, it will rise even higher!”
Lark Davis, a popular crypto Youtuber, is asking the crypto community to accumulate more Ethereum (ETH) tokens. Sharing this feeling on Twitter, Davis states that Ethereum is deflationary and provides high returns, considering that there is no longer any selling pressure from miners. The analyst also believes that ETH’s value will rise even higher during bull seasons, given the massive development activity taking place on the network regardless of the bear market.
#ethereum is deflationary, provides high yields, has no sell pressure from miners anymore, is 99% more energy efficient and has a thriving layer two scene as well as massive dev activity… all in a bear market.
In summary, no one has enough ETH.
— Lark Davis (@TheCryptoLark) January 28, 2023
“Those who support ETH do not understand BTC”
However, some crypto enthusiasts are voicing their concerns that the Ethereum Blockchain, as opposed to the Bitcoin (BTC) network, is becoming more decentralized. A Twitter user named Rando Calrissian argues:
Ethereum is a cheap copy of the original Bitcoin. It also lacks the essential decentralization that makes Bitcoin a viable solution to the world’s money problem. Those who support ETH do not understand BTC.
“This shows that ETH is better than BTC!”
Crypto phenomenon Lark Davis also says that the number of both Ethereum (ETH) holders and Bitcoin (BTC) holders is increasing in 2022. However, the number of Ethereum holders increased by 263%, while the number of BTC holders increased by only 20%. According to the analyst, this also shows that ETH is doing better than BTC.
However, BTC attracts more institutional investment than ETH, even though in 2022 the number of ETH holders increases much more than the number of BTC holders. Responding to Lark Davis’ post as “263% of children trading dinosaurs versus 20% institutional investors,” Twitter user Gray Matter draws attention to this.
What do the techniques show for leading crypto and leading altcoin?
cryptocoin.com As you follow, both the leading crypto BTC and the leading altcoin ETH are seeing 24-hour price increases. At press time, BTC is trading at $23,812, up 3.47% on a daily basis. Meanwhile, ETH is changing hands at $1,647, up 4.50% on a daily basis.
BTC weekly chart / Source: CoinMarketCapAs can be seen from its weekly chart, the price of BTC has been on a positive rally for several weeks. This pushed the crypto market leader’s price above the $21,420 resistance level and eventually turned the level into support. According to analysts, an important technical flag for investors and traders to watch out for is the 9-week EMA crossover above the 20-week EMA line. This will be a huge bullish flag that will result in the price of BTC targeting $24,870.
ETH weekly chart / Source: CoinMarketCapThe 9-week EMA line also wants to break above the 20-week EMA line on the ETH chart. This medium-term uptrend will most likely only occur when the price of ETH surpasses the weekly resistance at $1,740.
