Ethereum
11 Reflections From EthCC 2024 About The Ethereum Ecosystem
EthCC7 in Brussels, Belgium. Sandy Carter, COO of Unstoppable, and Founder of Unstoppable Women of … [+] Web3 and AI
Sandy Carter
The Ethereum
Ethereum
Community Conference Brussels this year included a diverse lineup of speakers, an array of side events, and a sharp focus on the future of onchain activities, EthCC cemented its position as one of the world’s premier events for Ethereum enthusiasts.
The vibrant energy was evident from the moment we walked through the doors; we were greeted by an atmosphere of innovation. Participants from around the world gathered to share insights, forge new connections, and explore the cutting-edge developments in the blockchain space.
Here’s my highlights of what makes a high quality and memorable Ethereum event.
1. Organization And Atmosphere
It’s a tricky balance to blend deep technological insight and a fun, engaging atmosphere. With most events, it’s either one or the other, but EthCC 2024 pulled it off superbly. Attendees appreciated the thoughtful layout of the venue, the variety of food options, and the effective use of space, which allowed for both intimate discussions and large keynote presentations. The organizers did a commendable job of ensuring that every detail was taken care of, from efficient registration processes to smooth transitions between sessions.
As a veteran of countless industry events, I know how important it is to give speakers and attendees space to breathe, rather than rushing through the program. The energy was palpable, making it a pleasurable and highly stimulating event for all. The conference space was designed to foster networking and idea exchange, with comfortable lounges, interactive installations, and vibrant exhibitor booths that showcased the latest innovations in the blockchain industry.
Bettina Boon Falleur, EthCC
Bettina Boon Falleur
At EthCC 2024, Bettina Boon Falleur, Head of EthCC event, highlighted the significance of the event in fostering community and driving forward the Ethereum ecosystem.
“EthCC stands proudly within the Ethereum community and we are excited to return with bigger and better plans for this year,” she told me in an interview. “What began as a modest gathering has evolved into one of the largest ETH conferences, highlighting our commitment to creating and sustaining strong community bonds”
2. Onchain Everywhere
Onchain was the buzzword of the conference, replacing older terms like Web3 and decentralization and permeating every aspect of EthCC. The shift emphasized the importance of blockchain-based activities in everyday life, signaling a future where onchain interactions become the norm. The conference highlighted numerous practical applications of onchain technology, and how it’s already beginning to revolutionize various industries – and not just the ones you’d expect.
Base Cafe, Coffee Onchain at EthCC
Sandy Carter
For example, two of my personal highlights were onchain coffee and onchain tennis shoes. If that sounds like a gimmick, you couldn’t be more wrong. Onchain coffee experience enabled participants to trace the entire supply chain of their cup of coffee, ensuring ethical sourcing and sustainability. Onchain tennis shoes provided a digital certificate of authenticity and ownership, enhancing consumer trust and reducing counterfeit products. Those are just two applications which show onchain is poised to take over the world, providing effective solutions to real problems, and transform everyday consumer experiences.
3. Vitalik Buterin: The Unassuming Keynote
Vitalik Buterin, co-founder of Ethereum, took the keynote stage without introduction, immediately engaging the audience with his humility and humor. He discussed Ethereum’s approach to responding to 51% attacks in a more automated manner, strategies for quantum resistance, and the simplification of protocols.
Both Vitalik and Joseph Lubin, co-founder of Ethereum, reflected on the state of Ethereum a decade after its creation, providing valuable insights into its past and future. Butrin’s candid discussion about the challenges and successes of Ethereum resonated deeply with the audience. He emphasized the importance of community involvement and collaboration in overcoming technical hurdles and driving innovation. He was funny, engaging, and knowledgeable.
The Creators of Ethereum
Sandy Carter
His vision for a more resilient and accessible Ethereum network inspired many attendees, sparking discussions about the future direction of blockchain technology. The keynote was a testament to Butrin’s continued influence and thought leadership in the crypto space. If only more tech keynotes were like this!
4. Embracing Diversity
This year’s EthCC made significant strides in promoting diversity. The conference featured more women on panels, showcased a global perspective, and embraced diversity of thought. This inclusive approach was a welcome change, highlighting the community’s commitment to fostering a welcoming environment for all.
Panels and discussions included voices from underrepresented groups, bringing fresh perspectives and innovative ideas to the forefront. The conference also hosted workshops and sessions focused on empowering minority communities in the blockchain space, addressing barriers to entry and promoting inclusive growth.
For example, at the Metamask Side event, the event was very well represented with diversity of all types. Sandra Fransciso, Ecosystem Engagement Manager at Consensys, and Liz Bazurto, Ecosystem Manager at Metamask, both had panels with 40% women that I watched or participated in!
Liz told me, “At the Metamask “Building” Onchain event, we worked to ensure that all our panels had diverse views and perspectives. This helped to make the entire event more valuable to our community”
Metamask “Building” Onchain event with Sandra Francisco moderating
Sandy Carter
By prioritizing diversity, EthCC demonstrated its dedication to creating a more equitable and representative industry, where everyone has the opportunity to contribute and thrive.
5. Over 500 Side Events
EthCC 2024 wasn’t just about the keynotes: it also boasted an impressive lineup of over 500 side events. From Metamask’s onchain innovations to AWS’s advancements in AGI and Somnia’s and Pudgy’s vibrant parties, there was something for everyone. These events ranged from technical workshops and hackathons that catered to every level of experience and expertise, to social gatherings and networking mixers.
Participants could explore new technologies, collaborate on projects, and build lasting relationships with peers and industry leaders. The abundance of side events ensured that attendees could tailor their conference experience to their personal and professional goals, making EthCC 2024 a truly enriching event with a true sense of community. And after all, that’s what Ethereum is.
Stacy Quackenbush, Founder and CEO, Hive3
Stacy Quackenbush
As Stacy Quackenbush commented, “Speaking at the Google side event during EthCC 2024 was an incredible opportunity to highlight the transformative power of our community platform, Hive3. Our goal is to harness the decentralization of blockchain to build a more connected and empowered community. The engagement and enthusiasm at the event were truly inspiring, reinforcing my belief that platforms like Hive3 are pivotal in driving the next wave of digital collaboration and innovation. It’s about creating a space where individuals can come together, share ideas, and build something greater than the sum of its parts.”
6. BUIDL
The mantra of ETHCC 2024 was undeniably “buidl.” This year’s conference was a testament to the thriving culture of innovation and construction within the blockchain community. The event was a hub of activity, with hackathons, showcases of new companies, and the unveiling of cutting-edge blockchains and applications. Startups and established firms alike took the stage to present their latest projects and prototypes, demonstrating the rapid pace of technological development in the industry.
The exhibit halls buzzed with excitement as entrepreneurs pitched their groundbreaking ideas, developers collaborated on code, and investors scouted for the next big opportunity. Hackathons were a highlight, providing a platform for creative minds to build, test, and launch new solutions in real-time. These competitions fostered a spirit of collaboration and pushed participants to explore the full potential of blockchain technology.
ETHCC 2024 underscored a collective drive to build a decentralized future where technology empowers individuals and transforms industries. The relentless focus on innovation and progress was palpable, with every corner of the conference echoing the ethos of “buidl.” This environment not only highlighted the current advancements but also served as a catalyst for future growth and development in the blockchain space, inspiring attendees to continue pushing the boundaries of what’s possible.
7. Games, Games, Games
Gaming was a significant focus at EthCC, with many discussions centered around designing permissionless games for the crypto space. Blockchain represent a new frontier in gaming, enabling a range of benefits from enhanced gameplay to the ability to create new communities, from decentralized governance and game development to new revenue streams for gamers, developers and platforms alike.
Panels and workshops explored the technical and economic aspects of building and sustaining blockchain games, highlighting the opportunities and challenges in this rapidly growing sector. The enthusiasm for gaming at EthCC underscored its potential to drive mainstream adoption of blockchain technology, engaging a broader audience and fostering a vibrant ecosystem of players, developers, and investors.
8. Community Over Utility
If EthCC had one theme running through it, it was the importance of community, pushing even utility into second place. The ethos of EthCC emphasized that a strong, engaged community is crucial for the success and longevity of any blockchain project. This community-first approach fostered a sense of belonging and collective purpose among attendees. Panels and discussions highlighted the role of community governance, collaboration, and support in driving innovation and overcoming challenges. The Pudgy Penguins have such an amazing community that was showcased again and again at EthCC!
Pudgy Penguin members from Europe and Luca Netz CEO from Igloo Inc.
Sandy Carter
As Lou Kerner, Founder of @CryptoOracle_, and CryptoMondays. commented, “A community is an ecosystem where everyone gets more out of it than they give.” Lou started Crypto Mondays and it has over 70K members as of today.
Attendees shared stories of grassroots initiatives, open-source projects, and community-driven development that have shaped the blockchain landscape. The emphasis on community reflected a broader trend in the industry, recognizing that technology alone is not enough to sustain growth; it must be supported by a dedicated and passionate community.
9. Highly Technical Content
While EthCC 2024 was rich in technical content, it did lack a bit in other types of materials. The focus was heavily on the technical aspects of blockchain and cryptocurrency, which was great for developers and tech enthusiasts but left some other participants wanting more varied content.
Sessions delved into complex topics such as protocol optimization, smart contract security, and scaling solutions, providing deep insights for those with a technical background. However, there was a noticeable gap in content tailored to business leaders, policymakers, and newcomers to the blockchain space. Future conferences could benefit from a more balanced agenda that includes a wider range of topics and perspectives, ensuring that all attendees find value and relevance in the content presented.
10 The Rise of AI And Blockchain Integration
Inevitably, one of the hottest topics at EthCC 2024 was the increasing integration of AI and blockchain technologies. Sessions and panels discussed how AI can enhance blockchain applications, from improving smart contract functionality to optimizing supply chain management. Companies showcased innovative solutions that combined AI’s predictive capabilities with blockchain’s transparency and security.
In chatting with Kumardev Chatterjee, CEO of Blue Hat Founders, he said “AI and Blockchain integration is inevitable and not just for operational / process aspects, but in fact, to really deliver impactful results at a lower cost of acquisition. The challenge though is that both technologies have a long way to go to win the public trust and that’s something that tech and industry need to focus on as a priority to achieve these results”
Kumardev Chatterjee, CEO, Blue Hat Founders
Blue Hat Founders
For instance, AI-driven analytics tools were presented to help predict market trends and automate trading on decentralized exchanges. This fusion of AI and blockchain opens up new possibilities for efficiency and innovation, and EthCC 2024 highlighted several groundbreaking projects leading this charge. The discussions emphasized that AI and blockchain together could revolutionize industries by providing smarter, more secure, and more efficient solutions.
11. Safety Concerns
Despite the positive atmosphere, there were safety concerns reported during the conference. Several attendees were targeted by robbers while exploring the city, prompting organizers to advise against displaying conference badges in public. These incidents highlighted the need for increased security measures at such large-scale events.
Organizers responded by enhancing security protocols, including increased visibility of security personnel, secure transportation options, and awareness campaigns to inform attendees about safety precautions. While these measures helped mitigate risks, the incidents underscored the importance of prioritizing attendee safety and security at future events. Addressing these concerns is crucial to ensuring that participants can fully engage with the conference without fear or distraction.
Final Thoughts
EthCC 2024 in Brussels was a vibrant, insightful, and community-driven event that celebrated the achievements of the Ethereum network and looked forward to its future. From thought-provoking keynotes by industry leaders to the energetic side events, the conference offered a comprehensive view of the current state and potential of blockchain technology.
The diverse lineup of speakers and the emphasis on community, innovation, and onchain activities provided a rich tapestry of experiences and knowledge. As we move towards an increasingly onchain world, the lessons and innovations from EthCC 2024 will undoubtedly shape the next wave of developments in the blockchain space.
Packed house at EthCC
Sandy Carter
The conference not only highlighted the transformative power of blockchain technology but also reinforced the importance of collaboration, diversity and, above all, community in driving the industry forward. Additionally, the growing intersection of AI and blockchain demonstrated the limitless potential for future innovations, promising even greater advancements in the years to come.
Ethereum
Bits + Bips with Nic Carter: Trump’s Promises, Kamala’s Change, and ETH’s ‘Narrative Problem’
Nic Carter joins the show to talk about his journey to becoming a fighter, Trump’s promises, Lummis’ Bitcoin Reserve bill, the launch of ETH ETFs, and more.
Posted on July 31, 2024 at 12:00 PM EST.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket casts, Amazon Musicor on your favorite podcast platform.
In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann dive with Nic Carter into Trump’s game-changing promises to the crypto community, Kamala Harris’ unexpected policy changes, and Solana’s explosive rise.
Additionally, Nic reveals his unexpected journey into amateur fighting and addresses the pressing issues surrounding Ethereum ETFs and the ecosystem he’s been funding the most lately.
Highlights of the show:
- Why Alex Thinks the Conference Was One of the Most Incredible Moments in Crypto History
- Nic’s reaction to Trump’s mention of deconstructing “Operation Chokepoint 2.0,” a term coined by Nic himself
- Nic’s Karate Fight and His Journey to Becoming an Amateur Fighter
- Why Nic Thinks There’s No Chance Lummis’ Bill Proposing the U.S. Government Establish a Strategic Bitcoin Reserve Will Pass
- The Importance of Trump’s Bitcoin Nashville Promises
- How Tether compares to the Eurodollar system
- What are the potential impacts of the Fed’s language at its next meeting?
- The implications of Harris’ campaign to mend ties with cryptocurrency companies
- How the ETH ETF Launch Happened and Why Nic Says Ethereum Has a “Narrative Problem”
- How Solana Has Been Heartbreaking Lately and Joe’s Response to Some of the Criticism
- How Nic, as a VC, sees the ETH vs. SOL debate and how founders are increasingly choosing Solana
Hosts:
Guest
- Nic CarterGeneral Partner at Castle Island Ventures
Connections
Bitcoin Conference:
- Trump’s speech:
- Lummis Proposal:
- Democrats/Harris looking for a “reset”
- Letter From Democratic politicians to DNC chair to include crypto in Democratic party platform:
ETH ETF Launch:
Solana rocks:
Ethereum
Bitcoin, Ethereum in the red as markets crash on volatility
Bitcoin And Ethereumalong with the rest of the top 10 crypto assets by market cap, look gloomy Thursday morning.
At the time of writing, the Bitcoin Price is still below $65,000 and 2.2% lower than it was at this time yesterday, according to CoinGecko data. Things are worse for the Ethereum Priceor 3.7% lower than 24 hours ago at $3,185.22. The drop in ETH price is in line with that of Lido Staked Ethereum (stETH), a liquid Ethereum staking token.
Over the past day, falling prices led to the liquidation of $225 million worth of derivative contracts, according to Coin glass. And about half of them, or about $100 million, have been liquidated in the last 12 hours.
When a trader is liquidated, it means that their market position has been forcibly closed by an exchange or broker due to a margin call or insufficient collateral. Margin is especially relevant when it comes to leveraged positions, which allow traders to control a multiple of their deposit, such as opening a $10,000 position with only $1,000 in their account.
Now that Bitcoin has posted three consecutive days of losses, it is possible that the world’s oldest and largest cryptocurrency could sink even further, BRN analyst Valentin Fournier said in a note shared with Decrypt.
“For three consecutive days, Bitcoin has closed negative, with one-way trades showing limited resistance from the bulls. Ethereum had a slightly positive Monday with strong resistance from the bears who have gained over the past two days,” he wrote. “This momentum could push BTC down towards the $62,500 resistance or even the $58,000 territories.”
Looking ahead, Fournier said BRN’s strategy will be to “reduce exposure to Bitcoin and Ethereum and find a better entry point after the dip.”
All this despite the fact that Federal Reserve Chairman Jerome Powell’s comments on interest rates yesterday were generally perceived as being accommodating and indicates that the FOMC cut rates in September.
QCP Capital, a Singapore-based cryptocurrency trading firm, noted that the rally in stocks, which left the S&P 500 starting the day 1.6% higher than its Wednesday close, was not felt in cryptocurrency markets.
“Cryptocurrencies saw a massive selloff overnight and this morning,” the firm wrote in a trading note. “The market remains on edge, with traders paying close attention to daily ETH ETF outflows and further supply pressures from Mt Gox and the US government.”
Meanwhile, the rest of the major pieces are a mixed bag.
Solana (SOL) has dropped 7.2% since yesterday to $169.13. Things are even worse for its most popular meme coins. In the last 24 hours, popular meme coins Dogwifhat (WIF) have dropped 12% and BONK (BONK) has dropped 9%, according to data from CoinGecko.
Their dog-themed competitor and Ethereum OG Dogecoin (DOGE), the only meme coin in Coingecko’s top 10, has dropped nearly 4% since yesterday and is currently trading at $0.1205.
XRP (XRP) fell to $0.608, down 7% from the same time yesterday.
Binance’s BNB Coin (BNB) has kept pace with BTC and is currently trading at $571, down 2.4% since the same time yesterday. Toncoin (TON), the native token of The Open Network, has only fallen 0.4% over the past day.
There remain the stablecoins USDC (USDC) and Tether (USDT), both of which are stable because they maintain their 1:1 peg with the US dollar.
Ethereum
FOMC Holds Interest Rates Steady, Bitcoin and Ethereum Prices Fall
Chairman of the Federal Reserve Jerome Powell
Jerome Powell Jerome Hayden “Jay” Powell is an American lawyer and investment banker who has served as the 16th Chairman of the Federal Reserve since 2018. Finance recently hinted at a potential rate cut in September, sparking a sharp rise in the stock market. The tech-heavy Nasdaq 100 rose 3.3%, and the S&P 500 rose 2%. In contrast, Bitcoin (BTC) fell 1.3% to $66,088 and Ethereum (ETH) The global cryptocurrency market fell by 1.11% to $3,313. Over the past 24 hours, the global cryptocurrency market capitalization also decreased by 0.71% to $2.39 trillion.
Market analysts believe that the decline in cryptocurrency prices is a short-term decline. Despite a bear market, Bitcoin and other cryptocurrencies are showing bullish signals. Bitcoin is still struggling to break the $70,000 mark, but its performance in August, ahead of potential rate cuts, will be closely watched.
Federal Reserve remains stable
On July 31, the U.S. Federal Reserve concluded a two-day meeting of the Federal Open Market Committee (FOMC) by deciding to keep benchmark interest rates unchanged at 5.25%-5.50%. The move met Wall Street expectations and marked the eighth consecutive meeting without a rate change.
Towards a market rebound?
According to SantimentThe FOMC’s decision to maintain current interest rates led to an initial decline in cryptocurrency prices. Traders were hoping for a rate cut, which hasn’t happened since March 2020. A future rate cut could signal bullish trends for stocks and cryptocurrencies, potentially boosting markets for the remainder of 2024. Despite the initial sell-off, markets are likely to stabilize unless another major event impacts the cryptocurrency sector.
Bullish outlook, bearish sentiment
The aggressive buildup of rate hikes and rising negative investor sentiment could pave the way for a substantial market rally. Despite the anticipation surrounding the FOMC meeting, the impact on cryptocurrencies was limited as the rate pause had already been priced in.
Previous Fed decisions have had minimal impact on Bitcoin prices.
A look into the past & the future
Historically, FOMC actions affect all asset classes. In 2020 and 2021, Bitcoin and other altcoins soared when the Fed cut rates to zero, only to reverse course in 2022 when rates began to rise. Investors have since moved trillions of dollars into lower-risk assets, with money market funds amassing over $6.1 trillion, enjoying an average return of 5%.
Key indicators to monitor
Bitcoin’s immediate resistance is noted at $66,852, with support at $65,000. The Relative Strength Index (RSI) is signaling oversold conditions, suggesting further declines are possible if the price falls below $65,900.
Investors are now closely watching the FOMC meeting for clues about inflation and economic growth, which could influence Bitcoin’s next move. The interplay between the Federal Reserve’s decisions and market reactions will be crucial in determining the future trajectory of cryptocurrencies and traditional assets.
Read also : Why is Bitcoin price down today? Is a major correction imminent?
The Fed’s decision has caused a stir in the market. Will this impact your investment strategy?
Ethereum
Tron’s Justin Sun Hints Ethereum Selloff Could Happen Due to ETF Outflows
Justin Sun, the founder of Tron DAO, has hinted at a major Ethereum (ETH) selloff following a series of transactions that have garnered considerable attention. Sun has unlocked a significant portion of his ETH stash. Additionally, he has transferred some of this ETH to Poloniex, a major cryptocurrency exchange.
Justin Sun hints at massive Ethereum selloff
Observers were particularly intrigued by the movement of 1,768 ETH (worth about $5.9 million) unstaked by Lido, according to data from Peck Shield Alert. Additionally, the subsequent transfer of 810 ETH, valued at about $2.7 million, to Poloniex cryptocurrency exchange
raised speculation about a massive Ethereum selloff.
The Ethereum price crash in early July, which saw a 10% drop, further fueled speculation in the market. This slowdown contributed to an 8% drop in the global cryptocurrency market capitalization. Moreover, one of the most notable impacts was a potential $66 million loss for Justin Sun at the time.
According to a report by Spot On Chain, Sun’s vast network Ethereum The holdings were severely impacted by the market downturn on July 5. Between February and June 2024, Sun accumulated a substantial amount of Ether, totaling 361,137 ETH across three separate wallets.
His acquisitions included 169,604 ETH in February at an average price of $2,870, 176,117 ETH in April at $3,177, and 15,416 ETH in June at $3,474. Just one day before the significant price drop, Sun reportedly made a profit of $58 million from these holdings.
However, the market crash on July 5th turned those gains into a staggering $66 million loss. At the height of the crisis, the price of Ethereum fell below $2,800. Although it has since rebounded above $3,300 following the launch of new ETFs, this event triggered a “sell the news” reaction among investors.
Moreover, despite the rebound, the price of ETH has remained below the average value of Sun’s third acquisition. Therefore, the latest concerns about Ethereum selling are not unfounded. This could be a loss mitigation measure, as Sun usually holds his ETH tightly.
Read also : 21Shares Uses Chainlink to Verify Ethereum ETF Reserves
ETH ETF Fund Outflows
Adding to the intrigue, flows from Ether exchange-traded funds (ETFs) have been consistently negative. On Monday, July 29, Ethereum Spot ETFs saw outflows totaling $98.3 million. Additionally, Grayscale’s Ethereum Trust (ETHE) alone accounted for $210 million in outflows, accelerating the outflow streak.
However, notable inflows were seen at Blackrock, Fidelity, and Bitwise, recording $58.2 million, $24.8 million, and $10.4 million, respectively. Despite these mixed signals, the price of Ethereum has remained relatively stable. The price of Ether is currently fluctuating between $3,300 and $3,400.
Ethereum Liquidation Chart, Source: Coinglass
At the time of going to press, the ETH Price fell 1.04% to $3,325.16 on Tuesday, July 30 with a market cap of $401 billion. Additionally, a broader sell-off in Ethereum was seen in the market with long liquidations of $33.58 million, according to Coin glassMeanwhile, shorts liquidated about $6.87 million of positions.
Read also : Ethereum Client Releases Important Stability Patch Ahead of Pectra Upgrade
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