Analyst: ETH rise triggers alt season, a certain platform may benefit the most.

On August 11, Bernstein analysts stated that with the rise of ETH and the arrival of alt season, a certain platform will become the biggest beneficiary.

Analysts led by Gautam Chhugani pointed out in a report to clients on Monday that since the sensational IPO of stablecoin issuer Circle on June 5, ETH has risen 80%, and investors' interest in the Ethereum ecosystem has grown increasingly strong upon realizing that most stablecoins are issued on the Ethereum network.

Chhugani stated: "In cryptocurrency terms, this market structure is referred to as 'alt season pump', where the rebound of digital assets other than Bitcoin is stronger compared to Bitcoin. We believe the altcoin rebound has already begun (as evidenced by ETH's recent outstanding performance), and a certain platform will be the biggest beneficiary, as it has launched over 250 tokens and has integrated long-tail tokens on the Base chain into its App."

Analysts point out that the Base chain processes over 9 million transactions daily from various applications, with Gas fees settled in ETH. A certain platform earns $75 million annually in sequencer fees from this. They stated that the platform also earns brokerage fees by integrating Base chain tokens on its trading platform and launching the Base App for cryptocurrency trading.

Analysts added that the staking activities on a certain platform (mainly for ETH) account for 10% of the company's total revenue, thus, as asset prices rise, this revenue should also increase accordingly. They noted that the platform also holds a massive reserve of 136,782 ETH (worth 570 million dollars).

ETH7.23%
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Soulless_salvip
· 08-11 15:29
The market is bullish 🐂
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CountdownToBrokevip
· 08-11 14:38
The green suckers are about to be played for suckers.
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governance_ghostvip
· 08-11 14:35
Still making those nonsensical predictions.
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SlowLearnerWangvip
· 08-11 14:32
I don't understand what alt season is. Is it too late to do Margin Replenishment in advance?
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liquidation_watchervip
· 08-11 14:24
The bull coin blind guess is about to face a liquidation, right?
View OriginalReply0
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