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Co-founder Etherea, Vitalik Buterin, in an exclusive interview with CNN Business, expressed his views on the current state of the cryptographic industry and the recent cryptocurrency. He told CNN that he was not worried about the crash, that we already had several.
Bubble, but not a toy
He likened the current situation to a bubble, saying that knowing when it would burst is “notoriously difficult to predict.”
“It simply came to our notice then. But it can also end in a few months. “
-added.
“So far we have had at least three such big bubbles. And quite often, the reason why the bubbles end up is that an event happens that simply shows that the technology is not so advanced yet. “
At Buterin’s address Etherea is currently ETH 325,000, estimated at $ 895 million at current prices. That’s 35% less than its highest value, which was around $ 1.4 billion on May 12.
Cryptocurrencies are not a toy
Comparing the current scene with the last “bubble” four years ago, Buterin stated:
“I feel that the crypto is almost ready for the mainstream, as it was four years ago. Cryptocurrencies are no longer just a toy. “
This time, Ethere’s story was different, with big institutional players entering the scene pushing prices up. Some industry observers blame the recent downturn in the high-leveraged derivatives trading market.
Buterin added that although he was not sure, there was a “possibility” that Ethereum would eventually catch up and overcome Bitcoin at market value. At the time of writing, Etherea’s market capitalization was $ 318 billion, which is 42.5% of Bitcoin’s market capitalization.
A co Elon?
As for the “Elon effect,” Etherea’s chief executive said it was something new on the scene and its impact would eventually diminish.
“Elon Musek’s tweet is something the cryptoprostor first became acquainted with literally last year and this year. I think it’s reasonable to expect a little madness. But I think the markets will learn. Elon will not have such an influence forever. “
Regarding his continued spread of support for Dogecoin, Buterin added:
“I don’t think Elon has any bad intentions.”
Conclusion
The price of ETH has recovered slightly. Do you share your opinion with the co-founder of Etherea, or do you have a completely different view of the whole thing? Let us know in the comments.
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