- 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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin price could retrace to $42,000 if US Nonfarm Payroll comes in at 180,000

Bitcoin price just like other assets, is highly impacted by the macro-financial developments. This includes the Nonfarm Payrolls (NFP) report released by the BLS of the United States. This time around, the NFP data is expected to cause a dip in the value of BTC.
Ripple is now only 3% away from becoming a bigger entity than Binance Coin
Ripple has overcome a lot of obstacles on its way to becoming the world’s fifth-largest cryptocurrency, as witnessed by the recent rise in XRP price. The native token of the world’s biggest crypto exchange, Binance Coin, on the other hand, has been moving in the opposite direction.
Ethereum leads altcoins north as Bitcoin halts amid bull trap fears

Ethereum (ETH) price remains northbound, unrelenting despite the king of cryptocurrency, Bitcoin, showing weakness. Behavior analytics tool Santiment observes that Ether and altcoins are on a tear even as BTC momentum fades.
BTC headstrong as Spot ETF talks reach technical stage

Bitcoin remains steadfast on the higher timeframe, amid news that spot BTC exchange-traded funds (ETF) discussions are now at the technical stage of approval. Specifically, talks with Spot BTC ETF issuers have advanced to key technical details, with Reuters indicating that it could signal a shift toward a potential approval.
Bitcoin price notes minor decline as US Nonfarm Payrolls report creation of 199K jobs

The United States Bureau of Labor Statistics (BLS), in its Nonfarm Payrolls (NFP) data, reported the creation of 199K jobs in the month of November, wildly surpassing the expectations of 180K jobs. This data, while expected to have a significant impact on the market, ended up being a low-impact event on Bitcoin price and other crypto assets.