The Ethereum network was built to democratize a financial platform where anyone, anywhere can deploy code and create value. Without centralized supervision, ETH has become a stage where builders and scammers coexist, each using the same decentralization tools for completely different purposes.
Can Ethereum evolve beyond its exploitation culture?
Ethereum has always been more than just a cryptocurrency. It is a programmable open finance environment that allows anyone to build and utilize ETH. According to AdrianoFeria post at investors.
The extraction mechanism was plain but profound, so retail investors, ironically, looking to gain more exposure to ETH through higher beta plays ended up parting with the very asset they wanted collect. The fraudsters successfully mined ETH that could otherwise have remained in the hands of long-term holders.
However, one of the earliest and most egregious examples was EOS. At its peak, it held approximately 7.2 million ETH, which is approximately 6% of the total supply, making it the single largest treasury existing.
The next wave of initial coin offerings (ICOs) and NFTs are believed to have taken more ETH out of the hands of long-term retail holders. This continued speculative excess transferred wealth, creating selling pressure that ultimately slowed ETH’s long-term appreciation.
Additionally, Adriano Feria claims that ETH has finally moved beyond this phase and will be reflected in price action (PA) with more stable growth and a much stronger relative resilience during market corrections. Institutions are actively using ETH, and even die-hard BTC maximalists have been forced to acknowledge ETH’s technological advantages and the undeniable institutional power it has attracted.
These expectations are for a uninteresting supercycle, with crypto commentators (CT folks) still trying to top it. Still, this very stability and institutional the foundation is exactly what the ETH supercycle is supposed to look like.
Why Ethereum’s legacy belongs to everyone
ArtvisionNFT digital artist from Ukraine specializing in NFTs revealed that in the rapidly changing world of blockchain, there is a risk of history being forgotten. As a result Kwalencyjna_HQ The Ethereum Wayback Machine (EWM) was built to ensure that the full history remains intact and available to anyone, anywhere, to access verified blockchain data.
However, EWM works as digital time capture, collecting, verifying and storing venerable blocks using a decentralized system. This process ensures that developers can utilize EWM to audit astute contracts, create analytics, and track blockchain activity. EWM protects transparency, accountability and innovation in the broader Web3 ecosystem. Indeed, Covalent_HQ’s mission is to ensure that ETH’s history is never lost.
Featured image from Getty Images, chart from Tradingview.com
