Digital Currencies Won’t See 1,000 Times Growth Anymore, Says Vitalik Buterin

In an interview with Bloomberg on the 8th of September, the co-founder of Ethereum (ETH) – Vitalik Buterin, said there’s no chance that the blockchain space or digital currencies will see a growth of 1,000- times again.

Vitalik Buterin Talks about Ethereum (ETH) and the Blockchain Space in a Conference

At a blockchain and Ethereum (ETH) conference in Hong Kong, the co-founder of Ethereum said that the speedy growth of the blockchain space and digital currencies is now reaching a “ceiling,” adding that it is moving from “just the interest of people” to the phase of “real-world applications.” Buterin said that the era of enormous growth in the digital currency space is likely coming to an end due to the fact that the superficial awareness level about the blockchain space has increased significantly, and it is likely to plateau.

The initial approach seen over the last 6-7 years in the digital currency space – based on marketing digital currencies with the goal of mainstream adoption – has resulted in the enormous growth in the market cap and values of a lot of digital currencies, but this is now coming to a dead end – according to Buterin.

The Recent Price Trend in the Crypto Space

Digital currency markets have seen a drastic decline in terms of the general market cap of the entire digital currencies in the market this year. Early this year, the total market cap of the entire digital currencies in the market hit $828 billion. The all-time high of the overall market cap has been accompanied by a gradual slump – with a little upward rebound in May – which has led to the present value at $198.8 billion, the lowest the market has seen since November last year – according to coinmarketcap.com.

Ethereum (ETH) Price Today – ETH / USD

#NamePrice24H %
2
ethereum
Ethereum(ETH)
$173.93
-0.10%

At the press time, Ethereum (ETH) is changing hands at $199 after an increase of about four percent over the past twenty-four hours. The market cap of the digital currency has also made a little recovery, bringing it to $20.31 billion with a trading volume of $1.57 billion over the past twenty-four hours.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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