Key Points
- The Ethereum community, led by Vitalik Buterin, celebrates its 9th anniversary with significant growth and success.
- Buterin to speak at EDCON 2024 conference, highlighting Ethereum’s future over the next decade.
Vitalik Buterin, co-founder and core developer of Ethereum (ETH), is leading the global community in celebrating nine successful years.
Buterin is set to be a guest speaker at the EDCON 2024 conference in Tokyo on Tuesday.
Highlighting Ethereum’s Future
During the conference, Buterin will discuss the expectations for the Ethereum network over the next ten years.
Ethereum’s Past Achievements
Ethereum has become a global leader in the deployment of smart contracts, with almost $60 billion in total value locked and over $78 billion in the stablecoins market cap.
The Ethereum ecosystem includes top-tier decentralized financial (DeFi) protocols led by Uniswap (UNI), EigenLayer, AAVE, and Maker, among others.
The Ethereum network boasts more than 98 million on-chain holders.
Following its successful transition from the proof-of-work (PoW) consensus method to the proof-of-stake (PoS), the blockchain has been adopted by more institutional investors.
As of this report, over 35 million ETH units have been staked to secure the blockchain.
The Ethereum network has undergone several changes over the years, including the London hard fork and the recent Dencun upgrade.
However, it faces stiff competition from other layer-one blockchains, led by Solana (SOL).
The recent approval of spot Ether ETFs in the United States has changed the market outlook for the Ethereum ecosystem.
Ethereum is expected to continue attracting more institutional investors looking to diversify their crypto portfolios.
Excluding Grayscale’s ETHE, which has about $6.9 billion in assets under management, the rest of the spot Ether ETF issuers have seen notable cash inflows in recent days.
Ethereum’s Future
With Ethereum having achieved legal clarity in major global economies like the United States, Singapore, Europe, and UAE, its adoption is expected to grow exponentially in the coming years.
The crypto industry is predicted to play a significant role in global geopolitics, including local politics in different countries.
However, Ethereum’s core developers are still discussing potential upgrades to ensure the network’s competitiveness in the future.
Ethereum’s price has soared more than 770,000 percent since its inception.
In the next decade, Ethereum’s price is expected to continue its bullish outlook, though with diminishing returns.
In the midterm, Ethereum’s price is expected to consolidate between $2,800 and $4k before inevitably breaking out to a new all-time high in the coming months.
