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Ethereum
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June 26, 2021

Ethereum ‘Seriously Undervalued’ at Its Current Market Cap, Says Crypto Analyst Lark Davis

By Daily Hodl Staff

Crypto analyst and trader Lark Davis thinks Ethereum (ETH) is massively undervalued with the potential to explode in the coming years. 

In a new video, Davis compares Ethereum to PayPal, showing that Ethereum is already far outpacing the payment giant despite its smaller size in terms of market capitalization. 

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“Now, PayPal is one of the world’s biggest online payment providers. So how does Ethereum stack up versus this payment giant?

Well currently, the market cap of PayPal [is] $344 billion. So Ethereum is worth $100 billion less than the PayPal company is worth. Now you might think, ‘Okay, that’s a pretty bad comparison. PayPal, it’s such a huge company. It does so much more business than Ethereum.’

Does it? Well, let’s dig into the facts here.”

Davis shows that in 2020, PayPal handled $936 billion in total transaction volume. Compared to Ethereum, Davis says PayPal isn’t keeping pace. The second-largest cryptocurrency handled $1.5 trillion in total on-chain settlements in just the first quarter of 2021 alone, according to the crypto analyst.

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“So in just the first quarter, Ethereum did 50% more transactional volume than PayPal did in the entire year in 2020. Incredible. It’s no wonder PayPal is starting to sell Bitcoin and Ethereum to their clients because they’re gonna get Blockbustered if they don’t. 

They can see where the future is heading, and it’s heading to online payments, which is exactly why PayPal has, of course, started to allow its customers to pay for things online using the Bitcoin and Ethereum in their PayPal accounts.

Smart move, PayPal, smart move. But that, of course, is a nice strategic move, but the numbers really speak for themselves about the dominance of Ethereum as an online settlement provider. It’s incredible. $1.5 trillion in Q1. And you know what’s the crazy thing? It’s been even more than that. That’s just Q1 we’re talking about.”

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Featured Image: Shutterstock/RDVector

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