Ethereum

Ethereum: An Altcoin Game Of Hot Potato?

Photo: Flickr
  • ETH got hit with a volatile crypto downturn on August 14.

  • BitMEX CEO Arthur Hayes warns: ETH tokens will one day get thrown out.

  • Ethereum’s leader Vitalik Buterin has nonetheless inspired bullish crypto fever.

Ethereum (ETH) continues lead as second biggest blockchain in the rollercoaster crypto space. The #1 altcoin fell to the tidal wave that sank the rest of the crypto market on Tuesday. On Monday, ETH was roaring at a $319.63 high to stumble 20% to a $253.88 low, only 24 hours later.

Rollercoaster (Public Domain Pictures)

Cryptocurrency volatility is not unusual. The question is, where will Ethereum stand in the future for blockchain platforms?

Here, turn to the screener platform at Coinwatch.com to comb through the latest crypto market data. Let’s take a closer look.

By Sunday, ETH had taken some recovery steps, rising to $303.04 with a $29.98 billion market cap. Make no mistake, the young visionary behind Ethereum has built an impressive empire- and co-founder Vitalik Buterin is just 24-years-old.

Vitalik Buterin (Flickr)

Vitalik Buterin is hailed as the “boy genius” behind the blockchain. The Russian-Canadian programming wunderkind draws what some deem an almost cult following to the ETH table. In fact, the grapevine was buzzing with a rumor that Google (NASDAQ:GOOGL) was trying to cherry-pick Buterin over to the tech empire. Buterin is so popular in the crypto-verse that this became a hot topic last week.

Vice Motherboard’s associate editor Jordan Pearson said Buterin is an “unlikely leader,” and “the reason so many are attracted to the Ethereum project.” Buterin strives to “shift the story to, ‘the protocol will succeed because of myself, plus all of these other people who are capable of moving things forward.'”

Jason Hsu, President Taiwan Parliamentary Colition for Blockchain & Industry Self-Regulatory Organization recently spoke at a Berkeley-hosted blockchain event. The panel asked Ethereum’s leader all about the future of the blockchain world. Notably, Buterin has nicknamed Hsu as the ‘Crypto Congressman.’

Hsu wagers, “…the industry needs a correction of course, as too much money comes too quickly. I feel too much focus is on the price of crypto and not on executions of projects. I’ve got to know Vitalik for over a year and see him as guardian of Ethereum.”

 

Source: https://seekingalpha.com/article/4200716-ethereum-altcoin-game-hot-potato

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