Ethereum
Ethereum Celebrates 9 Years With $400 Billion Market Cap and 2.45 Billion Transactions
Ethereum celebrates its ninth anniversary today.
The network, spear on July 30, 2015, was co-founded by several prominent crypto players, including Vitalik ButerinFounder of Polkadot Gavin WoodCEO of Consensys Joseph Lubinand the founder of Cardano Charles Hoskinson.
Since then, it has grown into the second largest blockchain with a huge ecosystem that has spawned many imitators. EtherscanThe network has processed 2.45 billion transactions in 20.4 million blocks over its nine-year history.
Dune Analytics data reveals a more complete picture, showing that it had over 7 million active users and over 1 million validators in the past month. Additionally, DeFillama data showed that there are over 1,000 projects on the blockchain with approximately $71 billion in assets locked on the network.
In addition, its market capitalization now exceeds $400 billion, which places it among the Top 25 Global AssetsThe price of ETH has also increased to over $3,000, making it one of the most expensive digital assets in the cryptocurrency market.
Ethereum has also established itself as a leading player in the crypto industry by introducing several innovations and upgrades, including the successful implementation of fusion and the Dencun hard forks. These upgrades moved the network from a proof-of-work to a proof-of-stake consensus mechanism and significantly reduced its Transaction fees at historically low levels.
Additionally, the recent launch of Spot Ethereum Exchange Traded Fund (ETF) The products in the United States make it the only digital asset, alongside Bitcoin, to be approved for trading by the United States Securities and Exchange Commission (SEC) on American exchanges.
Coinbase Cryptocurrency Exchange underlines the network’s importance to the broader crypto industry, highlighting that Ethereum is the anchor of an entire onchain ecosystem that helped pave the way for decentralized finance.
Despite these achievements, Buterin remains focused on the future and expresses his anticipation of developments in the next decade. He writes:
“I can’t wait to see what the next decade has in store.”