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Brian Kelly Explains Why He's Bullish on Ethereum

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Tue, 07/27/2021 - 05:50
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Alex Dovbnya
Brain Kelly feels “pretty good” about Ethereum on the cusp of the cryptocurrency’s biggest upgrade in years
Brian Kelly Explains Why He's Bullish on Ethereum
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During his recent appearance on CNBC “Fast Money,” trader Brian Kelly laid out his bullish thesis for Ethereum, the second-largest cryptocurrency. 

He points to the fact that the upcoming “London” hard fork—which contains much-talked-about EIP 1559—is going to dramatically change Ethereum’s monetary policy.  

After routinely facing criticism for having unlimited supply, it will now turn into a deflationary currency, which will help to fuel the “store of value” narrative.

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Kelly notes that having capped supply is “generally good” for price:

You’ve got everything in the world that is built on Ethereum. You’ve got DeFi, NFTs, all of that. Plus, a new monetary policy coming up. Plus, potentially, tailwinds from just adoption of this as an asset class. And to me, that was pretty good for Ethereum.    

Last week, CNBC’s eminent stockpicker Jim Cramer revealed that he was still holding Ethereum, describing it as the “pied piper” of crypto. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.