Coinspeaker Vitalik Buterin Leads Ethereum Community in 9th Anniversary Celebration
The Ethereum (ETH) global community, led by co-founder and core developer Vitalik Buterin, is celebrating nine years of success and significant growth. On Tuesday, Buterin will be a guest speaker at the EDCON 2024 conference, which will be held in Tokyo.
Notably, Buterin will be highlighting what to expect from the Ethereum network in the next ten years during the EDCON 2024 conference.
Happy 9th birthday, Ethereum!
Looking forward to seeing what the next decade brings. pic.twitter.com/bXq56mIff7
— vitalik.eth (@VitalikButerin) July 30, 2024
Major Achievements for the Ethereum Ecosystem in the Past
The Ethereum network has grown to be a global web3 leader in smart contract deployment, with nearly $60 billion in total value locked and over $78 billion in stablecoins market cap. The Ethereum ecosystem consists of top-tier decentralized financial (DeFi) protocols led by Uniswap (UNI), EigenLayer, AAVE, and Maker, among many others.
As a result, the Ethereum network takes pride in more than 98 million on-chain holders. Following the successful transition of the Ethereum network from the proof-of-work (PoW) consensus method to the proof-of-stake (PoS), more institutional investors have adopted the blockchain.
As of this report, the Ethereum network had over 35 million ETH units already staked to secure the blockchain.
Over the years, the Ethereum net has undergone several changes including the London hard fork and the recent Dencun upgrade. Furthermore, the Ethereum network faces immense competition from other layer-one blockchains led by Solana (SOL).
The $SOL vs. $ETH saga is getting to extreme levels.
Ethereum severely 'underperforming' since the launch of the ETF, pushing investors more towards $SOL.
Investors are claiming that $SOL will beat Ethereum.
I'm happy with my investments in ETH and I think we'll rotate soon.
— Michaël van de Poppe (@CryptoMichNL) July 30, 2024
However, the recent approval of spot Ether ETFs in the United States has changed the entire market outlook for the Ethereum ecosystem. As Coinspeaker previously reported, Ethereum will continue to attract more institutional investors seeking to diversify their crypto portfolios.
Excluding Grayscale’s ETHE, which has about $6.9 billion in assets under management, the rest of the spot Ether ETF issuers have been experiencing notable cash inflows in the past few days.
What Next for Ether?
With the Ethereum network having achieved much-needed legal clarity in top global economies led by the United States, Singapore, Europe, and UAE, among others, the adoption is expected to grow exponentially in the coming years.
Furthermore, the crypto industry is expected to play a crucial role in global geopolitics in the coming years, including local politics in different countries. However, Ethereum’s core developers are still discussing possible upgrades in the future to ensure the network’s competitiveness in the long haul.
Notably, Ethereum’s price has rallied more than 770,000 percent since its inception to date. Over the next decade, Ethereum price will continue in a bullish outlook but on diminishing returns. In the midterm, Ethereum price is expected to consolidate between $2,800 and $4k before inevitably breaking out to a new all-time high in the coming months.
next
Vitalik Buterin Leads Ethereum Community in 9th Anniversary Celebration
