Several miners and investors have been holding ETH for long, and many of them know that the current price is not worth selling the ETH. There is a lot of developer activity happening at ETH lately. However, the value of the developer activity is not seen in the current ETH price. Ethereum is growing organically in Dapps, DeFi, and Wallets.
Crypto Wilson commented: “Ethereum: proof of changing the narrative.” Yet someone else stated, “I would love to see an up to date version of that “Ethereum narratives over time” visualisation, it’s really cool :)” Further, “Ethereum: Proof of ever-changing gas fees.”
Vitalik.eth tweeted: “People often complain that the Ethereum narrative “keeps changing.” This is false. Rather, the Ethereum narrative is inherently pluralist, containing bets that at least one of many kinds of applications will grow and prosper.”
Sydney Ifergan, the crypto expert, tweeted: “Ethereum (ETH) is undeniably the best; however, the rising gas prices are mainly influencing Ethereum games. Some articles even speak of Tether killing Ethereum Gaming.”
The DevCon team is focused on delivering dc⟠vi in 2021. They are working on delivering to the Ethereum ecosystem moving forward. Several significant events are reportedly due this fall. DevCon is considered to be meaningful in several communities in unique ways. Several active participants consider this to be a homecoming.
The DevCon is more than just one event. It provides for diverse meetups, sub-conferences, and others in the ecosystem.
Ethereum (ETH) Improved Development Activity
The Ethereum Foundation and the developers have consistently increased their development activity for the network, regardless of what the price has been doing. This indicates that the health of the network is positive for investors.
In terms of the gas used, despite the increased price, the gas usage on the network is also reportedly increasing. Several investors prefer to hold after having bought it at a low price. The potential for price rise is high. Even those ETH miners who should be selling their mining rewards to cover for their expenses prefer to hold their tokens at the current price levels.
In reality, there seems to be a lot of reasons to be bullish about ETH. Ethereum can scale a transaction in less than 30 seconds.
Counter opinions are here to say. There are critics who state that it is overvalued: some feeling it is not scalable and everything under the sky. The bulk of work contributed by the developers muster its own value with time for sure.
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