Ethereum’s co-founder Joseph Lubin talked over the stagnation in the crypto money market. During an interview on Bloomberg TV Lubin stated that price collapses had been a part of blockchain economy since 2009 and the whole crypto market will not be negatively affected by the recession.
Growth will be continued
He mentioned that despite price decreases, the price bubbles look like “small spots” because there has been a tremendous exponential growth up to now.
People behave impatiently as they realised the potential of this technology. We are working hard to form a more fundamental infrastructure and the outcome would become more impressive. I definitely believe that there is a strong correlation between the price increases and the infrastructural growth of the infrastructure.
Lubin has been departed from Ethereum to start-up “ConsenSys” organisation which assists in developing Ethereum network. He mentioned that every bubble makes an enormous increase in the activity.
Suhail Ahmad
Joseph Lubin has evaluated the negative impact on crypto money market
According to Lubin, market bubbles are the positive elements of the ecosystem rather than a negative impact. Co-Founder stated that each bubble generates more attraction to the ecosystem. These bubbles encourage the investors, entrepreneurs and developers to build a robust infrastructure.
Lubin insists that the latest fall in the prices do not slow down the adoption and development of the seed infrastructure in the ecosystem.
When we consider all of the above facts, the recent price will not ban the ecosystem’s integrated infrastructure or Blockchain’s acceptance.
At the beginning of this week, Ethereum has fallen under 300 USD price level for the first time in its history.
