- The cryptocurrency investor Ryan Sean Adams believes that ETH is hilariously underpriced.
- The investor listed several fundamentals that he believes would boost ETH’s value to $22K.
- A whale dormant for five years deposited 39,260 ETH to Kraken.
The cryptocurrency investor Ryan Sean Adams revealed in an X post yesterday that he believes Ethereum (ETH) trading at $2.2K is “hilarious.” In his post, the investor also stated that the leading altcoin has strong fundamentals backing it, which should result in ETH trading at $22K.
Someone has to say it.ETH price at $2.2k is hilarious.
Everyone out here trading "what ifs" this cycle when Ethereum has fundamentals.
Let my tell you why $2.2k ETH is stooopid.
Ethereum now makes $2.7 billion in annualized profits – the only profitable chain – a P/E ratio…
— RYAN SΞAN ADAMS – rsa.eth (@RyanSAdams) December 4, 2023
The first key fundamental that adds to ETH’s intrinsic value is the fact that Ethereum makes $2.7 billion in annualized profits. According to the investor, this makes it the only profitable chain with a P/E ratio of 98. This ratio is higher than that of Amazon, which has a P/E ratio of 75. It also pla…
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