Recently, the Ether founder, Buterin Vitalik, acknowledged that he no longer falls into the category of the most valued billionaires in the US. According to reports, the crypto programmer published a tweet where he confessed he is no longer a billionaire because the second largest market cap token lost around 50 percent in value. Buterin, who had become the main face of Ethereum, admits that the token is going through a rough patch. However, it will soon end.
Ether would correspond to the name of the cryptocurrency launched by the Ethereum company developed between 2014-15. Buterin Vitalik would be the co-developer of Blockchain technology and an important entity in creating Ethereum.
Blockchain technology founder makes some alarming tweets
Blockchain technology founder Buterin Vitalik has tweeted that mistakes are sometimes made, especially with political issues, although he applies to other categories. Buterin clarifies that Ether is not the error, referring to the troll community harassing him lately due to the cryptocurrency’s imbalance.
Recently the digital media company Insider spoke with Buterin to discuss the bearish streak that the Ether token presents. Based on the interview, the insider also said that the fall of LUNA and the TerraUSD Stablecoin annoyed the entire community of crypto enthusiasts.
The Ether crypto would enter the top 3 of the most valued tokens in the market according to its capitalization, which reaches over $230B. In the last half of the year, the token has lost approximately 60 percent of its value.
Ethereum merger has a date
Although Buterin throws out comments on Ethereum, Blockchain, and cryptocurrencies, not all the news from the virtual space looks so discouraging. The ETH Fusion date was recently announced, an event in which the advances in technology were revealed and how it is taking off from crypto mining.
In the words of the data center creator, Preston Van Loon, the event may be launched in August. However, its launch date could also be accelerated. ETH Fusion will show it is possible to extract the token with Proof-of-stake and not with proof-of-work, which would be the traditional way of mining cryptos.
The advancement of technology will allow the energy consumption with Ethereum mining to drop to almost 99 percent. This way, global regulators’ criticism of crypto-mining and its excessive energy consumption would be covered.