Bullish on Ethereum: ConsenSys Founder Sees Bright Future

Posted on by

• ConsenSys founder Joe Lubin is “bullish” on Ethereum following its relatively stable performance during the crypto winter.
• At the Web3 event Building Blocks 23 in Tel Aviv, Lubin discussed the current state and future of the Ethereum ecosystem landscape.
• He believes that more useful use cases can be built with the scalability and usability of existing infrastructure, especially within the nonfungible token (NFT) space.

ConsenSys Founder ‘Bullish’ On Ethereum

Ethereum co-founder and ConsenSys founder Joe Lubin has expressed his optimism for Ether’s future following its relatively stable value through crypto winter. In an interview at Web3 event Building Blocks 23 in Tel Aviv, Lubin spoke about the current status of Ethereum’s ecosystem landscape and what could be built with existing infrastructure.

Lubin’s Opinion On The Crypto Winter

Lubin described recent macro events such as the collapse of TerraUSD (UST) and FTX cryptocurrency exchange as a “blow off top” for the ecosystem, likening it to the dot-com boom and bust of 2000s when exuberance drove investors to explore crazy ideas. He believes this type of exuberance may not drive investors in crypto space anytime soon but sees potential for more great projects and innovation.

Ether Showing Resilience During Crypto Winter

Despite a tough year for cryptocurrency markets, Lubin finds positives out of Ether’s resilience throughout crypto winter, noting that high profile companies are realizing value from exploring NFTs in particular. This is one reason behind his bullish opinion on ETH’s future.

What Will The Future Of Ethereum Look Like?

Lubin believes that more useful use cases can be built with existing scalability and usability infrastructure as well as other enabling technologies being developed within the space. He notes that innovation will come from building these use cases rather than relying on investor exuberance alone.

Conclusion

Overall, Lubin is optimistic about what lies ahead for Ethereum despite recent macro events impacting its market performance over past year. With further development of enabling technologies such as scalability and usability infrastructure, he believes even more potential can be realized by building useful use cases within NFTs in particular.