TLDR: Invest in Ethereum’s layer 2 networks and altcoins for high returns in 2024; traditional ETH staking offers lower gains.
This article is a summary of a You Tube video “Ethereum Will Make Millionaires In 2024, BUT Not How You Think” by Lark Davis
Key Takeaways:
- Ethereum’s Projected Growth: Ethereum (ETH) is expected to reach $10,000 to $15,000, but this is not the main focus for making big money.
- Conventional ETH Investment: Traditional methods like buying and staking Ethereum offer around 500% return, which is significant but not the highest gain potential.
- Layer 2 Networks Focus: The real opportunity lies in investing in Ethereum’s layer 2 networks and associated altcoins.
- New Listings on Layer 2: New coin listings on layer 2 networks present opportunities for short-term gains, especially in an uptrending market.
- Airdrops as Opportunities: Airdrops from various layer 2 projects like Stark net, ZK sync, Linea, and others offer potential for significant gains.
- Risks in Cryptocurrency Investing: Investing in cryptocurrency is risky, and there’s a chance of losing all your money. Caution and research are advised.
- Ethereum’s Past Performance: Ethereum has had a strong historical performance, with over 2000% gains from its 2018 peak to its 2021 peak.
- Layer 2 Trade Strategies: The video suggests strategies for making money on Ethereum’s layer 2, including paying attention to new listings, participating in airdrops, and engaging in layer 2 activities.
- Diversification in Ethereum Ecosystem: Investing in a variety of layer 2 projects and their native tokens is recommended for diversification.
- Long-term Ethereum Growth: Despite the focus on layer 2, Ethereum itself remains a solid investment with expected continuous growth.
