Ethereum Co-Founder Joseph Lubin: Crypto Price Collapse Will Not Constrain Further Growth

Ethereum co-founder and ConsenSys Inc. CEO Joseph Lubin stated in an interview with Bloomberg Aug. 14, he doesn’t see the current cryptocurrency cost collapse for a constraint to further growth.

In а recent debate about the state of this cryptocurrency marketplace with Bloomberg, Lubin stated that the value of this past year were another bubble such as the preceding “six big bubbles, each more epic than the previous one, and each bubble is astonishing when they’re happening.”

He added that about close examination those peaks seem like “pimples on a chart.” Lubin stated that every bubble, like the present one, has attracted a substantial burst of action. He said:-LRB-*****************)

Lubin blamed volatility to “trader types,” i.e. speculative investors, stating it isn’t necessarily a sign of underlying infrastructure improvement. When asked regarding how the cost volatility changes him, Lubin replied:-LRB-*****************)

Yesterday, Ethereum (ETH) dropped into some 9-month price , and has been trading in $288. The last time that the altcoin dropped under the 300 cost point was in ancient November, 2017. This morning declines expanded to 16 per cent on daily and nearly (************************************************************)% during the previous week.

Currently, ETH is investing about $263, down 7% over the day, using a market capitalization around $26 billion. )

Ethereum’s 24-hour cost graph.
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