Vitalik Buterin, co-founder and core developer of the Ethereum (ETH) network, is leading the celebration of Ethereum’s ninth anniversary. In a recent post on X, Buterin expressed his excitement for the future.
Buterin will also be speaking at the EDCON 2024 conference in Tokyo today. His keynote, titled “The Next 10 Years of Ethereum,” will focus on Ethereum’s role as a major global asset.
Since introducing smart contracts, Ethereum has become a key player in the Web3 space, drawing significant interest from both institutional investors and retail traders around the world.
Initially, Ethereum used a proof-of-work consensus mechanism like Bitcoin. However, the successful Merge event transitioned Ethereum to a proof-of-stake (PoS) system, improving its efficiency and security.
Today, more than 35 million Ether are staked to help secure the network, highlighting Ethereum’s commitment to strong security.
Ongoing Upgrades and Innovations
Ethereum has seen several important upgrades, including the London hard fork and the recent Dencun upgrade. These improvements have contributed to Ethereum’s status as “ultra-sound money,” thanks to its deflationary characteristics.
A major achievement in Ethereum’s first decade has been the approval of spot Ethereum ETFs in various regions, especially in the United States.
Over the past nine years, Ethereum’s price has skyrocketed from about 43 cents to around $3,336, representing a staggering growth of more than 770,000 percent. This increase is largely due to the growing adoption of Web3 technologies and digital assets.
Looking ahead, Ethereum’s price is expected to stay within its current range before potentially reaching new highs. However, with August likely to be a volatile month for the crypto market due to the upcoming FOMC statement, analyst Michaël van de Poppe predicts that Ethereum’s price could fall to $2,563 if the support level around $3,136 does not hold.
Ethereum’s journey is far from over. The next decade promises to be even more groundbreaking!
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