Ethereum Stabilizes At $200, Its Creator Believes That ‘1000x Crypto Days Are Over’

Earlier today, the price of Ethereum which is the second largest cryptocurrency by market cap dropped and fell to its yearly low of $185. The decrease shocked many traders who were keeping an eye on the latest Ethereum news at the time – but a quick correction was expected.

A couple of hours later, we now have Ethereum (ETH) trading at $202 and rebounding above the $200 mark – in line with Bitcoin’s recent recovery which took the price from $6,190 to $6,450.

However, there is still a lot of room for development and improvement for Ethereum (and Bitcoin too). The price of ETH is now about 80% lower than its all-time high of $1,500. The creator of the Ethereum token is also not sharing any positive news or excitement about a potential new surge.

On the other hand, Vitalik Buterin, who is known for his controversial statements and his sold Ethereum, believes that the awareness of cryptocurrencies and blockchain already achieved its high point during December 2017. As he told Bloomberg:

“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore,”

Buterin also explained that the strategy of promoting blockchain technology and cryptocurrencies is hitting a dead-end and that it is time to improve the infrastructure of decentralized systems and decentralized applications (dApps) as well as protocols all in order to ensure commitment towards blockchain-based platforms.

“Go from just people being interested to real applications of real economic activity,” he stated, adding “that strategy [promoting the blockchain to the broader consumer base]is getting close to hitting a dead end,” Buterin said.

The simple shift from cash to cryptocurrencies is definitely a big piece of pie right now. In order to reach true mainstream adoption, the crypto world must be ‘taken’ by the developers of dApps who will contribute to the new innovation making the decentralized systems seamless, risk-free and efficient.