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While Ethereum faces intense pressure from downward market forces, a number of distinctive faces within the cryptocurrency community have commented to counter the general FUD sentiment (fear, uncertainty, doubt) seen in September . Ryan Sean Adams, the founder of Crypto, the real estate investment company MythosCapital, has taken to Twitter to remind his followers that Ethereum is being used for real applications that are causing a real change in people's lives.
Decentralized Stablecoin Platform Maker Issued $ 114 m-Worth Beta Loans
Ethereum found an increase in trading on Thursday, with earnings of around 20% that change the course of what could be a tragic week for the cryptocurrency. Starting at a minimum of $ 170, the price is now moving steadily upward as it claims the $ 200 handle. The ETH is still far from recovering the area in which was at the beginning of this month, as the $ 300 level remains a mirage for now.
Many factors could be the basis of the recent wave. The cryptocurrency market as a whole is trading on a positive note as the downward pressure wears off. The biggest winners in the first 10 coins are Ethereum, EOS and Monero, all with gains above 10%. ETH lost its market position during the summer as a series of ICO projects downloaded the cryptocurrency on the market.
Ryan Sean Adams, however, is now countering the prevailing sentiment with a practical example of how Ethereum is used in the real economy. The investor stated that a startup blockchain that "launched a bank in December 2017" issued 3270 loans worth $ 114 million at an interest rate of 0.5% in its beta version.
A startup launched a bank in December 2017
Since then it has issued 3270 loans worth $ 114m ($ 12m per mo) at an interest rate of 0.5%
Oh, and this is its beta product
The product is Maker, but you should ignore it because Ethereum is not used for anything
– Ryan Sean Adams (@RyanSAdams) 13 September 2018
He was referring to Maker, a intelligent contract platform on Ethereum that supports and stabilizes the value of Dai through a dynamic system of Collateralized Debt Positions (CDP), autonomous feedback mechanisms and appropriately incentivized external actors. Ethereum asset holders can generate stablecoin Dai on the platform that can be used like any other cryptocurrency.
Ethereum co-founder Vitalik Buterin has recently said that the next phase of growth for cryptocurrencies is based on the adoption of real applications by real people.
Ethereum co-founder Joseph Lubin said in an interview that expects "rather tremendous growth" thanks to the boom in 2017 that has brought many talents and entrepreneurs into the blockchain space that has led to a great deal of activity in many different niches of the ecosystem. "Everything that is a resource right now will probably have a cryptographic asset in the future, so there's so much growth in the future," he added.
Lubin, who is the CEO of ConsenSys, recently said that the cryptocurrency market is likely to experience another bubble as soon as the "layer 2 technologies" will allow "exchanges and games to have hundreds and thousands of transactions. to the second ".
Image from Shutterstock
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