Celebrate With Crypto As Ethereum Turns Six Years Old
30 Julho 2021 - 3:10PM
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The Ethereum community celebrates 6 years since the network was
launch. The platform host some of the most important crypto trends,
from decentralized finances (DeFi), non-fungible tokens (NFTs), and
is currently in the process to migrate from a Proof-of-Work (PoW)
consensus mechanism to Proof-of-Stake (PoS). Ethereum has gone from
process thousands of transactions to around 1.2 billion, according
to data provided by Etherscan. The network settles trillions of
dollars in value every year, said the co-founder of EthHub Anthony
Sassano, who reviewed the platform’s history to celebrate this
major achievement. At the time of writing, Ethereum trades at
$2,338 with a 636% profit in the 1-year chart. In this period, ETH
has climbed from the low hundreds to an all-time high at over
$4,000, on the back of its “infinite” potential, as many on its
community claim. In terms of market cap, ETH holds the second
position in the top 10 with a worth of $273 billion, right behind
Bitcoin with $732 billion. The events that will allow Ethereum to
migrate to its “Beacon Chain”, its upcoming upgrades in terms of
scalability, its transition to deflationary model with EIP-1559
have led some to believe ETH will eventually flip Bitcoin and take
the number one spot in every metric. As Sassano recalled, the
Ethereum mainnet was launched on July 30th, 2015, after an ICO
where investors could acquire 1 ETH for $0.30. In 2016, the network
experienced one of its most infamous episodes with “The DAO” hack:
(…) event which was spectacular in both good and bad ways. 2017 was
Ethereum’s first breakout year with it leading the bull market due
to ICO mania (and a lot of hype around proof of stake). Then came
2018 which was a very sobering year for Ethereum. After a
multi-year bear market, the network and ETH have returned to “a
rocket ship with no signs of slowing down”. Sassano calculates the
return of those lucky enough to first invest in the ICO in around
7833x, and with potential future appreciation. Is The Ethereum
Flippening Imminent? The NFTs and DeFi are already worth billions
of dollars after just a short period since they made their way into
a portion of the world population. Many artists, creators, and
celebrities are trying to leverage NFTs to bypass a product’s
traditional distribution and achieve a deeper connection with its
audience. The latest mania was driven by the adult animated series
“Stoner Cats” which requires viewers to purchase an NFT to access
the content. The show was produced by Mila Kunis and the inventor
of Ethereum, Vitalik Buterin, was part of the cast. On the other
hand, data from DeFi Pulse indicates that the DeFi sector has $67
billion in total value locked (TVL). Uniswap, SushiSwap, Compound,
Yearn Finance, MakerDAO, and other DeFi protocols allow thousands
of users to maximize their profits and create new investment
strategies without the intervention of a third party. This has been
acknowledged by J.P. Morgan, Goldman Sachs, and other titans in the
traditional market that consider Ethereum a key component of the
future of finances. As Pseudonym user LiveLambo said via Twitter,
the ecosystem created on top of this platform has grown to
unprecedented levels and justifies the name that has been bestowed
on Ethereum, the “Infinite Machine”.
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