Ethereum Is Not Like Nvidia, Amazon, But More Like Intel, Trader Says: 'Negative Revenue Growth And Negative Profitability'
Ethereum Is Not Like Nvidia, Amazon, But More Like Intel, Trader Says: 'Negative Revenue Growth And Negative Profitability'
Crypto venture capitalist Andrew Kang compared Ethereum (CRYPTO: ETH) to tech stocks and sees parallels between the current price action and that of May 2021.
加密风险投资家安德鲁·康将以太坊（加密货币：ETH）与科技股进行了比较，并认为当前的价格走势与2021年5月的价格走势有相似之处。
What Happened: He notes that during both periods, the market was about 9-10 months into a bullish momentum but cautions that this does not mean the market is immune to extreme corrections over a multi-month time horizon.
发生了什么：他指出，在这两个时期，市场进入看涨势头约9-10个月，但他警告说，这并不意味着市场在数个月的时间范围内不受极端调整的影响。
Kang also expressed skepticism about the ability of support levels and ranges to hold in the face of potential market disruptions, such as the selling of Mt Gox estate and ETF buyers selling. He singled out NVIDIA (NASDAQ:NVDA) as appearing to be at a local top and suggested that the only buyers currently seem to be leverage and short-term traders trying to catch a falling knife.
面对潜在的市场混乱，例如出售Mt Gox房地产和ETF买家卖出，康还对支撑位和区间的维持能力表示怀疑。他特别指出，NVIDIA（纳斯达克股票代码：NVDA）似乎处于当地领先地位，并表示目前唯一的买家似乎是杠杆和试图抓住落刀的短期交易者。
Also Read: Ethereum's Price After The ETFs Start Trading? Between $2,400 And $3,000, Says Crypto VC: Here's Why
另请阅读：ETF开始交易后的以太坊价格？Crypto VC表示，介于2,400美元至3,000美元之间：这就是原因
Why It Matters: Kang draws a parallel between Ethereum and well-known tech companies, suggesting that ETH's current valuation and growth prospects resemble past tech bubbles rather than the sustained growth seen by companies like NVIDIA and Amazon (NASDAQ:AMZN).
为何重要：康将以太坊与知名科技公司相提并论，这表明以太坊目前的估值和增长前景与过去的科技泡沫相似，而不是NVIDIA和亚马逊（纳斯达克股票代码：AMZN）等公司所看到的持续增长。
He believes that Ethereum's trajectory mirrors Intel's (NASDAQ:INTL), which once had unbounded growth expectations but eventually faced slower innovation and fierce competition. This dynamic leads to lower projected growth rates and, consequently, lower valuations.
他认为，以太坊的发展轨迹反映了英特尔（纳斯达克股票代码：INTL），英特尔曾经有无限的增长预期，但最终面临着创新放缓和激烈竞争。这种动态导致预期增长率降低，从而降低估值。
Ethereum's fundamentals currently do not support its high valuation. "Tell me how you pitch 200x PS, negative revenue growth, and negative profitability to investors at a $420 billion price," he challenges. Kang believes that while some crypto enthusiasts might buy into this narrative, it's unrealistic to assume TradFi investors will do the same given the present fundamentals.
以太坊的基本面目前不支持其高估值。他质疑说：“告诉我你如何以4200亿美元的价格向投资者推销200倍的每股收益、负收入增长和负盈利能力。”康认为，尽管一些加密爱好者可能会认同这种说法，但鉴于目前的基本面，假设TradFi投资者也会这样做是不现实的。
Ethereum faces declining interest in NFTs, migration of on-chain trading to other networks, and falling network fees.
以太坊面临着对NFT的兴趣下降、链上交易向其他网络的迁移以及网络费用下降的问题。
What's Next: The influence of Ethereum as an institutional asset class is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.
下一步是什么：预计将在11月19日举行的Benzinga即将举行的数字资产未来活动上全面探讨以太坊作为机构资产类别的影响力。
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
该内容部分是在人工智能工具的帮助下制作的，并由Benzinga编辑审查和发布。
Image: Shutterstock
图片：Shutterstock