A new Bernstein report by analysts Gautam Chhugani and Manas Agrawal argues that bank deposit yields will continue to decline and reach near zero.
The economy is now experiencing an outflow of capital from deposits into U.S.
Treasuries. However with the growing popularity of steaking more and more money will flow precisely into the cryptoindustry.
“It’s hard not to see an increase in demand for ETH deposits and stacking.
And if the U.S. prime rate declines and the dollar devaluates, the yield on ether steaming will become extremely attractive,” the analysts write.
Chhugani and Agrawal emphasize: With ETH stacking, returns are expressed in ether, not U.S. dollars.
And the digital coin itself has long remained deflationary. This is also quite interesting for long-term investors.
The continued growth of the Etherium ecosystem is also important, guaranteeing the growth of ETH.
“This time the new cryptocurrency cycle will be based on cryptocurrency returns. Banks keep all the profits for themselves, they do not share with depositors.
Etherium, on the other hand, is giving everything away to steakers and not diluting its monetary policy,” according to the Bernstein report.
A month earlier, the analyst firm reported that bitcoin’s yield was markedly higher than gold’s.