“Happy birthday ETH, may it grow further in the future.”
The cryptocurrency community gathered in jubilation to celebrate the 8th anniversary of the Ethereum (ETH) network which was successfully officially launched by the ETH Foundation on July 30, 2015.
ETH which has grown into the second largest crypto has a market capitalization of $225 billion currently and has over 1,900 monthly active developers.
Besides sharing fond memories and looking back at prices, development and overall growth since its inception, the event hosted by Bankless with Ryan Sean Adams revealed a few things.
Among them is that ETH has $400 billion in guaranteed value, $3.6 billion in annual profits and a total of 17.8 million digital asset blocks.
Binance Chief Executive Officer (CEO) Changpeng Zhao (CZ) celebrated the digital asset's anniversary by recounting the time ETH co-founder Vitalik Buterin stayed with him in Tokyo a few months before ETH's launch.
Not only that, Udi Wertheimer who also celebrated the event included a bit of humor by referring to the ETH network as his favorite BTC sidechain.
ETH allowing developers to build new blockchain-based smart contracts and applications has been instrumental to initial coin offerings (ICOs) in late 2017 including decentralized finance (DeFi) protocols and development.
On September 15, 2022, ETH successfully upgraded from Proof-of-Work (PoW) to Proof-of-Stake (PoS) to reduce energy consumption and allow validators and investors to stake.
So here it can be seen that ETH has recorded an all-time high above $4,878 on November 10, 2021, but has started to slowly decline as it now stands at $1,866.
