A decade of Blockchain revolution

Over the past ten years, Ethereum has transformed the blockchain landscape.

From its initial coin offering to becoming the second largest cryptocurrency by market capitalization, Ethereum has continuously evolved, implementing major updates such as the shift to Proof-of-Stake (PoS) scaling solutions and Layer 2 and consolidating its position as a cornerstone of the Web3 Ecosystem despite the appearance of several alternatives over the years.

Ethereum’s 10-year journey

Reflecting on its origins, Ethereum Foundation researcher Justin Drake noted that Ethereum’s initial coin offering (ICO) began on July 22, 2014, with a price of 2,000 ETH per unit of selling for BTC in a completely permissionless environment with no influence from venture capital or assets. periods

This rate only applies for the first 14 days. After that, the price began to gradually decrease, with each subsequent day offering less ETH per unit. By the end of the sale period on September 2, 2014, the rate had dropped to 1337.077 ETH per unit.

Fast forward to today, and the stock dynamic has changed dramatically. Now 1 BTC buys less than 20 ETH. Drake noted that few assets have matched Bitcoin’s performance over the past decade, and even fewer have outperformed it by a factor of 100.

Ethereum has become a crucial component of the blockchain ecosystem. To date, 4.3 million ETH have been burned through gas fees since the introduction of EIP-1559, and many more are expected to be burned through the introduction of blob transactions.

In addition, Ethereum’s stake mechanism now offers $100 billion in economic security, ten times more than Bitcoin, and supports DeFi and reactivation, greatly improving the economic bandwidth of the Internet of Value.

Ethereum’s institutional journey begins

All eyes are on the Ether ETF, which, according to Drake, further signified Ethereum’s growing recognition as a digital commodity, marking the beginning of the crypto asset’s institutional journey.

The Chicago Board Options Exchange (CBOE) will debut five Ethereum exchange-traded funds (ETFs) on July 23, pending final regulatory approval, the agency announced last week. This follows the approval of the US Securities and Exchange Commission (SEC) on May 23, which gave the green light to the listing of several Ether spot ETFs.

The five Ethereum ETFs slated for launch are the 21Shares Core Ethereum ETF, the Fidelity Ethereum Fund, the Invesco Galaxy Ethereum ETF, the VanEck Ethereum ETF, and the Franklin Ethereum ETF.

To attract investors and secure market position, most ETH ETF issuers plan to offer temporary fee reductions or waivers as the funds begin trading.

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