- VanEck CEO prioritizes transaction charges over Bitcoin and Ethereum ETFs within the cryptocurrency trade.
- Solana and Layer 2 options provide decrease and extra predictable transaction prices for builders.
- Jan Van Eck has expressed doubts in regards to the approval of the Ether ETF, citing the SEC's lack of responsiveness.
In a latest interview, Jan Van Eck, CEO of worldwide funding agency VanEck, emphasised the significance of transaction charges within the crypto trade. The CEO prompt that these discussions want extra consideration than the continuing debates surrounding Bitcoin (BTC) and Ethereum (ETH) ETFs.
Van Eck highlighted the unpredictability of transaction charges on the Bitcoin and Ethereum blockchains, saying it poses a problem for builders trying to construct functions inside these ecosystems. He highlighted the emergence of options like Solana and Layer 2 options that supply extra reasonably priced and predictable transaction prices.
Van Eck mentioned in an interview:
A very powerful story in 2023 is solely that transaction prices have change into reasonably priced by Solana or so-called Layer 2.
Drawing a comparability for non-crypto fans, he likened Ethereum's excessive gasoline charges to fluctuating gas costs, illustrating the extent of significance of the impression of excessive gasoline charges on on a regular basis markets.
Solana is commonly touted as a competitor to Ethereum, boasting decrease prices and quicker transaction speeds. Layer 2 options akin to Ethereum Rollup and Bitcoin's Lightning Community handle scalability points by working on high of a layer 1 chain.
Van Eck expressed optimism in regards to the potential for builders to benefit from these decrease transaction charges to create extra sensible functions. He predicts that over the subsequent few years there might be a shift towards the usage of scalable databases with predictable prices, paving the way in which for vital advances within the cryptocurrency house.
“We filed an S1 and we haven't heard something. In order that's form of an indication. That's not going to occur till the disclosure paperwork are in place,” Van Eck mentioned, explaining the Ether ETF approval course of. prompt that there are potential hurdles.
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