Crypto Analysts: Ether’s Current Market Cap Is Severely Undervalued Compared to PayPal
According to dailyhodl, cryptocurrency analyst and trader Lark Davis believes that Ether (ETH) is severely undervalued and could explode in the coming years. In a new video, Davis compares Ether to PayPal, showing that despite its small size in terms of market cap, Ether is already far ahead of the payments giant in terms of transaction volume. Currently, PayPal’s market cap is $343 billion. Ether’s value is $100 billion less than PayPal’s company value. In 2020, PayPal processed $936 billion in total transactions, but in the first quarter of 2021 alone, Ether processed $1.5 trillion in total on-chain settlements, Davis said. Thus, in the first quarter alone, Ether’s transaction volume was 50 percent higher than PayPal’s entire 2020 volume.