Ethereum has been around for some time now. I remember getting in on it back in the day when it was roughly $3-$15 a pop and picked up a decent amount. Sure I blew some way too soon but I still sit on a hearty amount that I most likely will hardly ever touch unless I really need to. That being said, those times were rocky as everyone was splitting from the main blockchains to create what they thought was the right way to do it.
Born was Ethereum classic and Ethereum of which oftentimes then Ethereum classic actually outperformed Ethereum for a bit. That clearly no longer the case as $ETH and $ETC ($18)
Ethereum has been a major player in the bull runs and I would say the single cryptocurrency/blockchain that’s contributed to the last two.
In 2017 a bull run was triggered from the creation of massive amounts of layer two tokens on the ethereum blockchain. Of which I feel victim into investing into some real shit projects back in then. Again looking back at it stupid moves but at the time it was new, exciting and no on rug pulled yet lol it just wasn’t a thing.
The next bull run came on the steps of NFTs, the metaverse, DeFi etc. which yet again was mainly all done on the Ethereum blockchain.
The biggest issue however is BOTH times the network became congested and fees skyrocketed to the point the bull run slowed down and everyone stopped getting so hyped about it.
Now we wait around and wonder what might spark the next bull run? It’s no longer a question of if but a question of when.
Ethereum on exchanges has been falling to all time lows. As governments crack down in particular the USA as of late on cryptocurrency it’s very clear the trust in exchanges is at an all time low and people are exiting. It seems like DEX and DeFi very well could be the next targets but they are still plagued with hacks and other issues that need to be resolved before investments really start to flourish there again.
This shift in how exchanges will work and operate isn’t really new; it just hasn’t been adopted as much as CEX centralized exchanges. This shift of low liquidity everywhere right now really isn’t that abnormal but what it will do is spark some rather interesting swings in prices as low liquidity means less on the markets so a single buy or a single sell could shift things $100 or more quickly.
POW to POS
One of the biggest core moves from Ethereum lately was the move from POW (Proof of Work) to POS (Proof of Stake) Many speculated that the price would come crashing down once the locked up funds in these proof of stake system was able to be unlocked. Instead we got the opposite and it’s on par to what I thought. If anything more people would start dumping into Ethereum Proof of Stake because before that time it was unknown when/if the Ethereum network would be updated and the ability to withdraw those tokens was possible. Now that people know there’s less risk and more know how thus more people/companies dumped ETH into the proof of stake system.
It honestly feels like the USA and China continue to go back and forth on crypto. While one attacks it and tries to ban it the other phrases it and says buy it. Well that’s exactly where we are once again. Right now the USA is aggressively attacking crypto for no reason while China is once again saying buy the heck out of it!
I think all of this if you look back at it is a clear reason why crypto is not going anywhere and the best thing you can do for yourself is to accumulate it. One awesome way of doing that is through a twitter like blockchain social media called LeoThreads not only can you earn crypto from a twitter like setting but you can also do so via long form content such as the article I’m writing right now.
This shift into bitcoin, ethereum and general crypto adoption by China is preparing it for another major bull run.
One thing is clear AI is going to be a part of the next bull run. With that there’s also big news about Microsoft and Goldman Sachs that are working on AI in preparation for the next bull run. In fact they might even be building their own blockchain or some sort of hub for transfers and transactions. No one really knows for sure besides some whispers but something big is for sure in the works.
This also makes me believe that this whole show with the SEC and the USA trying to block and ban crypto is just a that… a show and its setting up major corps once again to gain control and become the top of the top in the crypto industry.
Will Ethereum also be a part of that?
I think so as what we know of crypto to this day and how it will be injected into the future chains there’s honestly no stopping it.
What also might come of this new tech is the introduction of a possible web3. We all know Microsoft has constantly been trying to get market shares in other areas besides just windows but have failed time and time again to get any form of traction. Mixer for example failed, IE their browser no matter what just fails but perhaps something more tech and groundwork oriented like blockchain could give them a real fighting chance.
The big names so far in the tech that Microsoft is building is Deloitte, S&P Global, Moody’s, BNP Parbas, Cboe Global Markets and Paxos.The also recently acquired OpenAI and the new blockchain which is expected to launch into testnet this July just two months away is suppose to take care of the issues that supposedly “hurt” bitcoin. That would be lack of privacy, control over data, cross-chain interoperability and scaling.
I for one find it hard to believe that this new blockchain would solve all of those. In fact being that it’s company run and most likely has massive oversight things like privacy and control over data I wouldn’t count on or it would just be smoke and mirrors. However cross-chain interoperability I could see happening but could be limited in terms of people trusting to move from one chain to this chain when swapping funds etc. Scaling however should be something it can solve as blockchain has come a long way from when it was first developed.
The core target of this new “blockchain” could also bridge traditional finances in which it would allow for investment in the chain to happen for things like bonds, stocks etc as tokenized versions. It will be interesting to see how this plays in to the over all AI aspect of things and how it will affect blockchains such as Ethereum which also seem to have a number of layer two projects based around AI.
Overall Ethereums future still looks very bright and during the next bull run I still see it being a major player.