Ethereum (ETH) is the third largest cryptocurrency on the market – and a topic of our today’s crypto news section. The cryptocurrency has been falling in terms of price – but according to its co-creator – it is also growing rapidly.
Joseph Lubin, who is the co-creator of Ethereum and the founder of ConsenSys – a blockchain software studio that houses 1,000 developers – thinks that Ethereum is growing at an exponential rate. As he said:
“Blockchain is more than a market. It’s a movement. Market cap doesn’t reflect (this) activity. Decentralized networks are growing. 10 billion daily API requests served by Infura. 1 million Truffle downloads. 1 million MetaMask downloads. 12,000 live Ethereum nodes. 48 million unique Ethereum addresses. 3 times LinkedIn blockchain job openings.”
The three major products of Ethereum – Truffle, Infura and MetaMask (known as “TIM”) – serve as the backbone of the infrastructure surrounding the asset. As of recently, it was reported that all three blockchain tools achieved major milestones. While MetaMask launched a mobile client, Truffle secured 1 million downloads and Infura surpassed 10 billion requests.
So, despite Ethereum and its struggling performance on the market – in which it lost 92% of its value from the peak on January 13th – the user base of the blockchain protocol has increased and the infrastructure has strengthened quite noticeably.
“I believe in blockchain technology because of the people behind it. The developers, engineers, and technologists who build. The smart contract experts who audit and secure the code. The designers who care deeply about user experience. The marketers who tell the story of Web3,” Lubin concluded.
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“These preliminary findings are consistent with the literature on stock market prices and volatility,” the report on Ethereum possession concluded. “Academics have found that large anomalous fluctuations in traded volumes of particular stocks, notably the S&P 500, tend to impact volatility and not price levels.”
Ethereum (ETH) Price Surges By 9% Following The BTC Rally
“After breaking the much anticipated 6000 level BTC still looks amazing. Trend, momentum and sentiment are all clearly bullish. That said it’s at resistance and a pullback would make sense. I’d much rather be a buyer at support than a seller at resistance.’’The best cryptocurrency news sites reported on the sentiment around bitcoin and the rest of the crypto market. It seems that the community is generally optimistic. The analysts can predict that the major cryptocurrencies will sustain the momentum in the medium term just as the Ethereum (ETH) price managed to do so. The co-founder of Ethereum Joseph Lubin declared back in 2018 that the bottom of the crypto market is here just when the price of the largest cryptocurrency reached $3,150. Lubin stated that the fear is intensifying about the future of crypto and noted:
‘’I am calling the cryptobottom of 2018. This bottom is marked by an epic amount of fear, uncertainty, and doubt from our friends in the 4th and crypto-5th estates. What I’ve witnessed among the chattering class the past few weeks in response to ConsenSys 2.0 is a rather typical tune: the alarmed, the eulogistic, and the gleeful.’’Since then, the Etehreum (ETH) price surged by 70 percent year-to-date.
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