Cofounder of Ethereum Vitalik Buterin recently posted a long-awaited bullish post on Twitter. Buterin, who is well-known for taking a generally calm and contemplative stance on Ethereum discussions, changed the tone of his post.
A tweet by Buterin featured a picture of a bull holding a sign that said “Ethereum is good.” Another tweet proposed a third layer that emphasized the significance of Ethereum applications. Some users also endorsed Arbitrum, one of the largest L2 networks on Ethereum. Considering the continuous criticism Buterin has received for what is seen to be a lack of attention to Ethereum’s price performance, this lighthearted-but-pointed post is intriguing.
Ethereum bears contend that Buterin has mainly disregarded Ethereum’s financial difficulties, especially its stark underperformance in comparison to other valuable assets. Investors who believe that Buterin’s focus ought to be more in line with market dynamics, particularly during periods of negative sentiment, are becoming increasingly irritated as a result.
Buterin’s post was released at a time when Ethereum has been having difficulty regaining traction on the market. Buterin’s message seems to imply that there is more to Ethereum than just its current price action, despite the difficulties.
Ethereum’s multi-layered strengths — from the network’s foundation to scalable solutions like Arbitrum and eventually to the applications that will power future use cases — are being highlighted by Buterin, thereby quietly reiterating the notion that Ethereum’s real value goes beyond its short-term market performance.
Though it has a thriving ecosystem and continuous development that may eventually pay off, the market performance of ETH is still a major factor. Some might consider this as a necessary focus on the wider picture, while others might see it as a way to avoid the urgent problem of Ethereum’s underperformance.
