Ethereum the second largest crypto asset and ecosystem crossed a milestone of nine years since its launch on July 30, 2015.
The project has blossomed over its 9 years existence to become the second largest ecosystem after Bitcoin with the second most valuable crypto asset in the industry.
Ethereum was founded in July 2015 by Vitalik Buterin, Gavin Wood, Joseph Lubin, and Charles Hoskinson.
The various co-founders have gone on to start up other popular crypto projects besides Ethereum while Vitalik Buterin remains the major face of the Ethereum brand.
According to Data from Dune Analytics, Ethereum has a total active address of 7.15 million with a market Capitalization of $415 billion. However, at the time of report, the market capitalization has dropped to $399 billion.
The project according to Etherscan data, has also processed about 2.45 billion transactions in 20.4 million blocks with a total number of 1 million validators and 277 million unique addresses.
Ethereum which is currently exchanging hands for $3,315 is the second most valuable asset in the crypto industry after Bitcoin and has built a reputation of being an ecosystem for building several Decentralized apps and other projects.
The Ethereum ecosystem has undergone various changes since it launches including the introduction of various hard forks which helped in the transition of its blockchain from Proof of work to Proof of Stake reducing transaction fees.
Ethereum which hit an all-time high of $4, 878 in November 2021 has been predicted by analyst to hit the $10,000 mark, giving the launch of its Exchange traded Funds in the United States.
Ethereum’s Spot ETFs
Ethereum made history becoming the second only crypto asset to launch an Exchange Traded Funds Product in the United States attracting institutional investors to the ecosystem. The ETF funds are expected to influence the price of Ethereum positively although that hasn’t been the case so far.
Matt Hougan Bitwise Chief Intelligence officer predicted Ethereum ETFs to pull in $15 billion in its first 18 months.
The Ethereum ETF funds were issued by Nine Asset managers. They include Blackrock, Fidelity, Grayscale, Franklin Templeton, Invesco Galaxy, Bitwise Ark 21 shares and VanEck.
These issuers are also heavily involved with the Bitcoin ETFs as well.
What To Know
- Ethereum Co-founders have gone on to start other exciting projects. Gavin Wood went on to find Polkadot, Joseph Lubin, founded Consensys while Charles Hoskinson founded Cardano.
- Ethereum crossing the 9-year mark cements its position as a solid pillar of the crypto industry with lots of long-term potentials.
