Ethereum
Happy Birthday Ethereum! Vitalik Buterin Reveals Major Predictions for Ethereum’s 9th Birthday!!
Vitalik Buterin, co-founder and lead developer of the Ethereum (ETH) network, is behind Ethereum’s ninth anniversary celebration. In a recent post on X, Buterin expressed his excitement for the future.
Buterin will also speak at the EDCON 2024 conference in Tokyo today. His talk, titled “The Next 10 Years of Ethereum,” will focus on Ethereum’s role as a major global asset.
Smart contracts with Web3 power
Since the introduction of smart contracts, Ethereum has become a key player in the Web3 space, attracting significant interest from institutional investors and retail traders around the world.
Initially, Ethereum used a proof-of-work consensus mechanism, like Bitcoin. However, the success of the Merge event led Ethereum to switch to a proof-of-stake (PoS) system, improving its efficiency and security.
Today, over 35 million Ether is being staked to help secure the network, underscoring Ethereum’s commitment to strong security.
Ongoing upgrades and innovations
Ethereum has undergone several major upgrades, including the London hard fork and the recent Dencun upgrade. These improvements have contributed to Ethereum’s status as an “ultra-sonic currency,” thanks to its deflationary characteristics.
Evolution of the price of ether
One of the major achievements of Ethereum’s first decade was the approval of Ethereum spot ETFs in various regions, particularly the United States.
$ETH Ethereum Birthday Awards 🎂
2024: $3,319
2023: $1,881
2022: $1,739
2021: $2,383
2020: $318
2019: $211
2018: $466
2017: $197
2016: $13— CoinGecko (@coingecko) July 30, 2024
Over the past nine years, the price of Ethereum has skyrocketed from around 43 cents to around $3,336, representing a staggering growth of over 770,000%. This increase is largely due to the growing adoption of Web3 technologies and digital assets.
The first scenario represents $ETH.
The price consolidated at $3,100 and bounced higher.
If outflows stall during this week, I suspect we will see a break above $3,500 and a rally towards $3,800-4,000. pic.twitter.com/rwFgDHRSOO
– Michaël van de Poppe (@CryptoMichNL) July 29, 2024
Moving forward, Ethereum price is expected to remain within its current range before potentially reaching new highs. However, with August shaping up to be a volatile month for the cryptocurrency market due to the upcoming FOMC statement, analyst Michaël van de Poppe predicts that Ethereum price could drop to $2,563 if the support level around $3,136 fails to hold.
Ethereum’s journey is far from over. The next decade promises to be even more revolutionary!