How Should ETH Be Valued? | Ryan Berckmans vs. Jon Charbonneau

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4.7 • 1.2K Ratings

🗓️ 10 June 2025

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jon Charbonneau and Ryan Berckmans join Bankless to debate Ethereum’s future: is ETH undervalued, or has the market already spoken? We unpack whether Ethereum can rival Bitcoin as a store of value, if L2s will drive real value back to ETH, and whether Solana’s momentum signals deeper trouble for Ethereum. Jon argues ETH has lost its lead and may never reclaim it. Ryan contends Ethereum’s neutrality and institutional traction make it the inevitable hub for the onchain economy. This is the definitive conversation on where ETH stands—and where it’s heading. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐SELF | PROVE YOUR SELF https://bankless.cc/Self 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 0:32 Is ETH special? 32:55 How ETH should be valued 51:42 ETH over or undervalued? 1:09:59 Being wrong on ETH 1:13:00 Closing & Disclaimers ------ RESOURCES Ryan Berckmans https://x.com/ryanberckmans Jon Charbonneau https://x.com/jon_charb ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Transcript

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0:00.0	Bankless Nation, we got John Charbonneau and Ryan Berkman's on a debate today.
0:07.8	We're debating a handful of topics that all point towards each other.
0:11.4	We're going to go through four different questions.
0:13.1	We're probably going to touch on all of them if we have time.
0:15.8	Is Ethereum special versus Altlayer Ones?
0:18.1	Is Bitcoin a special snowflake?
0:19.9	How should Eith be valued and is Eith over or undervalued?
0:24.5	Ryan, welcome to Bankless. Thanks. Good to be here.
0:26.9	And John, also, welcome to Bankless.
0:28.6	How's it going?
0:29.4	I would like a clean fight from both of you gentlemen. Shake hands. And let's get off to the races.
0:34.0	Ryan B. I'm going to throw this one to you. Is Ethereum Special versus alternative layer
0:39.1	ones? What do you think? Absolutely, David. The world is coming on chain. We're going to level up
0:45.2	the whole global economy and boost productivity by applying both on-chain technologies as well
0:51.2	as decentralization. It's going to increase wealth. And while many different
0:56.9	chains can provide the same things such as ERC standards, the transactional model, giving all users
1:03.8	public and private keys, you know, so that you can kind of level up the privacy and interaction
1:10.2	model. It's really only Ethereum
1:11.9	that provides the level of neutrality to serve as a global hub so that the entire global
1:17.9	economy can be brought on chain with an acceptable level of risk. So yes, Ethereum is absolutely
1:23.5	special. And what we're seeing now is the gradual process of re-rating ether the asset
1:28.9	up towards Bitcoin to reflect that, you know, distinguished status. John, same question to you.
	...

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