Nouriel Roubini Joins the Anti-Ethereum Brigade

Nouriel Roubini, “Dr. Doom”, once again lashed out against the perceived lack of value of crypto assets. This time, he selected Ethereum (ETH) specifically.

ETH Has No Intrinsic Value, Dr. Roubini Believes

Dr. Roubini, known for trashing irrational bubbles, believes ETH would also go down to zero as it has no intrinsic value.

This time, “Dr. Doom” failed to mention BTC, though he noted in an older tweet BTC was still down significantly from its peak. Dr. Roubini also mentioned that smaller altcoins were a disaster – at least one thing with which a part of the crypto community agrees.

The Ethereum protocol has been at the receiving end of criticism for a long time. Most of the flaws discovered have to do with the failure to scale, and the complexity and low capacity of using the network.

Crypto Market Still in Better Shape Over the Years

Despite the doomsday sayings, however, the crypto market looks in better shape. About two years after some of the biggest rallies in history, BTC built up a hashrate as much as 20 times higher. Altcoins at the top also achieve higher liquidity, and trading volumes are returning.

The market has seen multiple failed experiments, and some assets have lost 99% of their value, then lost 99% of their value again, dwindling to almost nothing. But failed coins have always accrued, even in the earliest days of crypto trading.

Even with the setbacks, the market still has a larger overall volume. The most…

Source Link