• Joe Lubin, Ethereum co-founder and ConsenSys founder, is bullish on Ethereum’s performance following the crypto winter.
• Lubin compared current market dynamics to the dot-com boom and bust of the early 2000s.
• He highlighted the resilience of the Ethereum ecosystem and increasing value being realized in the NFT space.
Ethereum Shows Resilience Through Crypto Winter
ConsenSys founder Joe Lubin says he is ‘bullish’ on Ethereum’s future after its relatively stable performance throughout crypto winter. Speaking at the Web3 event Building Blocks 23 in Tel Aviv, Israel, Lubin highlighted ETH’s resilience through a myriad of macro events that have played out over the past year.
Crypto Winter Compared to Dot-Com Boom & Bust
Lubin likened current market dynamics to those seen during the dot-com boom and bust of the early 2000s, where irrational exuberance drove investors towards new ideas driven by geopolitics, economics and ecosystem reasons. Despite this tough period for cryptocurrencies, he sees potential for more great projects ahead and “tremendous innovation” in terms of scalability and usability enabled by advanced infrastructure.
High Profile Companies Exploring NFT Space
The ConsenSys founder pointed to high profile companies exploring what can be built within nonfungible token (NFT) space as evidence of increasing value being realized through Ethereum. The concept of digital ownership has evolved dramatically in recent years with more people recognizing its potential applications across various industries such as gaming, art collecting and music streaming services.
Reason to be Bullish on Ethereum’s Future
Joe Lubin believes that ETH’s relatively stable value through crypto winter is reason enough to be optimistic about Ethereum’s future prospects despite a tough year for cryptocurrency markets globally in general. He noted that although investors may not become irrationally exuberant again anytime soon, there are still plenty of opportunities available for developers looking to create useful use cases using blockchain technology supported by strong infrastructure platforms like Ethereum.
Conclusion
In conclusion, Joe Lubin’s interview with Cointelegraph Magazine editor Andrew Fenton at Building Blocks 23 in Tel Aviv provided further insight into his thoughts regarding Ether’s stability throughout crypto winter as well as its potential applications moving forward into 2021 and beyond. His positive outlook on ETH’s future performance should come as no surprise given its resilience throughout 2020 despite a challenging market environment overall