In a news report published on February 19, Bloomberg newspaper just snatched a title line with not very bright content for the cryptocurrency market. “Ethereum Founder Buterin Says Crypto ‘Welcomes’ Another Winter” – Ethereum Founder Buterin Says Crypto Market Will Welcome Another Winter
For those who are not familiar with the concept of “Crypto winter”, this is a term that refers to a period of time when the crypto market has collapsed for a long time, similar to what happened in 2013 – 2017 or 2018 – 2020.
Interviewing with Bloomberg, the creator of Ethereum commented that he is quite surprised at how the market has performed since last year, but he cannot be 100% certain whether cryptocurrencies have entered another winter or just reflect volatility similar to those of the broader financial markets, such as equities. Because, the tense political situation between Russia and Ukraine in the past two weeks has cast a dark shadow over the entire global financial industry.
“Winter is a time when a lot of applications are dropped and you can see which projects are really sustainable in the long run, in their model and in their development team. Anyway, this is an opportunity to have a chance to win. can help people who are building serious crypto projects focused on improving the technology,” shared Vitalik Buterin
Buterin’s comments come not long after the popular cross-chain protocol on Solana, Wormhole, was hacked for more than $325 million. Notably in January 2022, he warned about the risks of using cross-chain bridges in the blockchain space. In a more general view, the founder of Ethereum has summed up the market in his hands from 9 years ago, with a vision and prediction to the point of making the community “terrify”. Therefore, his statement about the current market situation will probably make us think.
However, Vitalik Buterin has shifted his focus to improving Ethereum’s scale in recent years. The popular platform has long come under criticism for its slow and expensive transactions on Ethereum. So, he is leading the latest efforts dedicated to improving ETH scalability, through a journey of merging (The Merge) with upgrades that are considered the most important in the history of Ethereum. ETH recently removed the Eth2 branding in a new development path, pooling it under a single brand, Ethereum.
(Refer to coin68).