Celebrating Ethereum’s six years old with cryptocurrency

The Ethereum community celebrated the 6th anniversary of the launch of the network.The platform carries some of the most important crypto trends, including decentralized finance (DeFi), non-fungible tokens (NFT), and It is currently migrating from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS).

According to data provided by Etherscan, Ethereum has grown from processing thousands of transactions to approximately 1.2 billion. Anthony Sassano, the co-founder of EthHub, reviewed the history of the platform to celebrate this major achievement. He said that the network is worth trillions of dollars each year.

Ethereum’s daily transaction volume. Source: Ycharts

At the time of writing, the trading price of Ethereum is $2,338, and the profit on the 1-year chart is 636%. During this period, due to its “unlimited” potential, ETH climbed from a low of hundreds of dollars to an all-time high of more than $4,000, as claimed by its community.

ETH traded sideways after rebounding on the daily chart. source: ETHUSD transaction view

In terms of market value, ETH ranks in the top 10 with USD 273 billion, second only to Bitcoin at USD 732 billion. The event that allowed Ethereum to migrate to its “beacon chain”, the upcoming upgrade in scalability, the use of EIP-1559 to transition to a deflationary model, made some people believe in ETH Eventually flip Bitcoin and rank first in each indicator.

As Sasano recalled, the Ethereum mainnet was launched on July 30dayIn 2015, after the ICO, investors could get 1 ETH at a price of $0.30. In 2016, the network experienced one of the most notorious “The DAO” hacking incidents:

(…) The event is spectacular, good or bad. 2017 was the first breakthrough year for Ethereum, and it led the bull market due to the ICO mania (and a lot of hype around proof of stake). Then 2018 was a very thought-provoking year for Ethereum.

After years of bear market, the Internet and ETH has returned to “a rocket ship with no signs of slowing down”Sassano calculated the returns of those who were lucky enough to invest in an ICO for the first time at around 7,833 times and have potential future appreciation.

Ethereum is about to undergo earth-shaking changes?

NFT and DeFi are already worth billions of dollars shortly after entering a part of the world’s population. Many artists, creators and celebrities are trying to use NFTs to bypass the traditional distribution of products and establish deeper connections with their audiences.

The latest craze is driven by the adult animation series “Stone Cat”, which requires viewers to buy one NFT access content. The show was produced by Mila Kunis, and Vitalik Buterin, the inventor of Ethereum, is one of the actors.

On the other hand, data from DeFi Pulse shows that the total value lock-in (TVL) of the DeFi sector is US$67 billion. Uniswap, SushiSwap, Compound, Yearn Finance, MakerDAO and other DeFi agreements allow thousands of users to maximize their profits and create new investment strategies without third-party intervention.

JPMorgan Chase, Goldman Sachs and other traditional market giants all acknowledge this, and they believe that Ethereum is a key component of the future of finance.

LiveLambo as a pseudonym user Say Through Twitter, the ecosystem created on this platform has grown to an unprecedented level and proved the name of Ethereum, the “Infinite Machine”.

Source: LiveLambo via Twitter

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