Vitalik Buterin states that Ethereum has failed if the network faces scalability challenges
- Vitalik Buterin spoke about the future of the Ethereum network at a conference in Buenos Aires, Argentina.
- The founder of Ethereum believes that if scalability plagues the network, then it has failed.
- 86% of the addresses holding Ethereum are currently profitable based on data from IntoTheBlock.
- Analysts have predicted a recovery in Ethereum price as the altcoin retests its 231 month consolidation.
The founder of Ethereum reveals that the network could fail if it lacks scalability. Ethereum price struggles to recover from the drop in price and analysts predict a retest of the 231 month consolidation.
Ethereum price recovery begins, on track for ETH2.0
As Ethereum inches closer to the “merge” or the transition from Proof-of-Work (PoW) to Proof-of-Stake (POS), the altcoin has started its recovery. Vitalik Buterin, the founder of the Ethereum network recently spoke at a conference in Buenos Aires.
Buterin spoke about the growing Argentinian Ethereum community and addressed the need of blockchain technology in the country. He commented on the efficiency of PoS. The founder of Ethereum shared his views on decentralization.
The founder is of the opinion that Ethereum has become further decentralized over time. Decentralized Autonomous Organizations (DAOs) have finally started emerging and Buterin explained the roadmap in five words- verge, purge, surge, splurge and the merge.
Based on data from crypto intelligence platform IntoTheBlock, over 86% of the addresses holding Ethereum are currently profitable.
@cryptoalle, a pseudonymous cryptocurrency analyst has predicted that Ethereum price needs to outperform as the window for December 31 is tightening.
if $ETH doesn't outperform for real in the next 48hs uhhh
— alle (@cryptoalle) December 25, 2021
the window is tightening for the december 31 calls
imagine someone that's trading only eth over the last 3-4 days, where several alts pumped 40~50%.
@rektcapital, a crypto analyst, is of the opinion that Ethereum could form a higher low.
Indeed, the $ETH dotted Higher Low is figuring as a new resistance
— Rekt Capital (@rektcapital) December 27, 2021
What this means is that #ETH could dip into the green area once again
This dip would enable ETH to form a fourth Higher Low in a row#Crypto #Ethereum https://t.co/0kkuBA6DWK pic.twitter.com/2NemVJOvPo
FXStreet analysts have predicted that Ethereum price could collect enough liquidity to march towards $4,500.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
