Hello everyone, this is Pipi~We haven't talked about the latest news about Ethereum in a long time. This morning, let's review the recent situation of Ethereum (ETH)?Latest news from ETH:At present, Ethereum (ETH) has increased by -3
Hello everyone, this is Pipi~
We haven't talked about the latest news about Ethereum in a long time. This morning, let's review the recent situation of Ethereum (ETH)?
Latest news from ETH:
At present, Ethereum (ETH) has increased by -3.18% in 24 hours, with a 24-hour trading volume of 3.4553 million and a 24-hour trading volume of 39.038 billion.
So what is Ethereum (ETH)? Why did the supply suddenly increase?
Ethereum (ETH) is an open source public blockchain platform with smart contract functionality that provides decentralized Ethereum Virtual Machine (EVM) to handle peer-to-peer contracts through the dedicated cryptocurrency Ethereum (ETH).
Do you still remember that exciting moment last September? Ethereum has completed its merger, switching from Proof of Work (POW) to Proof of Equity (POS), resulting in a 90% decrease in overall circulation. Those who firmly believe that Ethereum (ETH) will continue to appreciate are cheering.
But today, a year later, the market data of Ethereum (ETH) makes it difficult for us to be happy. Data shows that in the past 30 days alone, the global ETH supply has increased by 30000 ETHs, approximately $47.9 million. Needless to say, this data is not good news.
The main reason behind this astonishing growth is that the traffic on the Ethereum network has also significantly decreased recently, NFTs have decreased, and DeFi activities have become inactive. If this situation continues, it may pour cold water on those who hope ETH becomes a currency.
But you know what? While most people are nervously paying attention to the trend of blockchain, the team of builders behind Ethereum is not impressed. Their idea seems to be: 'This is nothing!' Haha, this is probably the so-called God's perspective!
Micah Zoltu, a core developer at Ethereum, said he believes that no core developer would worry about this issue because "from a macro perspective, this is actually insignificant." Indeed, from a macro perspective, many things can become insignificant. Let's look at the world from a different perspective!
Another core developer, DannoFerrin, also holds a similar view. He believes that Ethereum does not need to worry too much recently because "the current ETH supply is still below historical highs, and the short-term situation of ETH is much lower than other chains and the entire economy
In the long run, compared to the previous round of Ethereum's ecosystem development, its exchange rate with Bitcoin is generally on the rise, rising from 0.01 to over 0.05. However, based on the situation in the past year, Ethereum seems to be in a weak position, with its exchange rate with Bitcoin showing a downward trend.
In short, blockchain may be worth our attention, but the core development teams of Ethereum from the perspective of God do not seem to think so. This may be a unique phenomenon in the blockchain world that is worth exploring and thinking about.
Okay, that's all for this episode. See you in the next episode~
In the encryption industry, if you want to seize the next bull market opportunity, you need to have a high-quality circle so that everyone can warm up and maintain insight. If you are alone, looking around in a daze, and realizing that there is no one, it is actually difficult to persist in this industry. Thank you for watching~
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