A famous crypto analyst and trader, Tyler Swope, announced that he is investing more in ETH as much as possible than he is in Bitcoin owing to the fact that he expects the second-rank crypto in terms of market capitalization in the world of crypto to go through a chain split that would cause tokens airdropped for holders.
In a video recently published on his YouTube Channel, Tyler Swope told his subscribers that he is expecting a very controversial upgrade coming up on the Ethereum Network, which will most likely split the network chain to two, as it happened for the BTC chain that gave birth to Bitcoin Cash (BCH) in August 2017.
Proposal generating Kickbacks from Miners over Revenue Slash
This controversy-clouded upgrade will be channeled through the EIP (Ethereum Improvement Proposal) 1559 that will allow users to add an optional tip for miners in burning gas fees for every transaction. The upgrade has been packed and is expected to begin in operation in July.
This proposal has generated controversy and campaigns from the miners because it implies that their revenue will nosedive. Yet, despite the controversies, the ETH developers have decided to actualize their plans and proposals, which includes the Ethereum Investment proposal that is causing the delay to the entire plan. Moving forward, the EIP – Ethereum Investment Proposal 1559 will reduce the supply of ETH in circulation and will ultimately address the issues around its usability.
Tyler Swope, however, predicted that if Ethereum was to split, every holder of the token would get more tokens airdropped to them on the new blockchain to be created, which they can profit from immediately in the market.
He said that if the Chain forks from the ETH Network POW (Proof of Work) main chain, users will get the fork in ratio 1:1 for holding Ether.
How will the Forked Token look?
Though BCH (an offshore of the BTC Chain Split) is currently behind BTC in market rank, it rallied after the split shortly. Sometimes later, BSV (Bitcoin SV) was created from it, which multiplied the payouts of all bitcoin holders, particularly to those who sold the forked tokens.
Though Swope is not sure whether the ETH Network hard fork would be the same thing with sharing free tokens to the Ether holders, other analysts in the community think differently.