Ethereum faces the lower pressure in the middle of the uncertainty of the market. (Illustration Photo of Budrul Chukrut / Sopa … (+)
Less than two months after Trump’s presidency, Bitcoin entered a lower market, affected by a broader slowdown in global actions. After recently reached a six-digit record level, the largest cryptocurrency in market capitalization has now fell to around $ 80,000, marking a drop of almost 25% compared to its January peak. This sudden but recurring trend highlights a key reality: the web 3 space remains strongly influenced by the speculation and the media of the market.
However, I have a certain optimism to share after our team finished a fruitful and constructive commitment to Ethdenver, one of the largest annual rallies of Ethereum and Web3, mixing hackathons, conferences and innovations focused on the community.
Ethdenver prioritizes innovation on the thickening media
As everywhere else, AI (and decentralized AI) was an important subject of discussion in Ethdenver. The difference, however, is that participation in Ethdenver has reaffirmed my faith in what we build. At the very least, it proves that we are clear about what we do.
Having traveled the world for cryptographic events over the years left me mixed feelings. I am sometimes confused and perplexed by the way in which certain projects and investors take place in a blatant way only on narration rather than real innovation or tangible products. It is breathtaking to see how often grandiose ideas have priority on pragmatic execution.
By taking a broader temporal vision of the evolution of the cryptographic industry, on the more than 24,000 cryptocurrencies listed on Coingecko since 2014 at the end of 2023, more than 50% have died. 2021 was the worst year: more than 70% listed this year has become missing. A study of 2022 revealed that less than 50% of the 100 best cryptocurrencies by market capitalization had a work product, stressing the number of projects that operate only on stories rather than offering real value. By looking further, a 2018 analysis reflects the same reality; He revealed that only 36 of the 100 best cryptocurrencies had active products and accessible to the public.
Although more recent data is rare, the lack of updated studies itself reflects the chaotic nature of this space – where to conduct in -depth research and reasonable diligence remains difficult. Even with older studies, the trend remains unchanged, lining up on my observations of an industry often more trained by media threw than on real progress.
More recently, we have also seen politicians feeding pump and dump programs, which affect millions of retail investors and further highlight the risks in an industry often more motivated by speculation than substance.
For years, I plead for an approach more based on innovation, especially in AI. The key to sustainable progress is not to hunt flashy concepts or make the perfect pitch game to attract investors – it is in thoughtful execution, by finding real applications that transform ideas into viable companies.
Fortunately, Ethdenver was different. This time, my team and I met many brilliant minds that really focused on construction rather than the continuation of the last cycles of media threshing. We have seen convincing and well executed ideas demonstrating clear use cases and practical implementations. To further promote a significant culture of innovation, we organized a hackerhouse competition, which attracted a level of interest and participation of passionate coders in the United States, the projects of this competition give me immense optimism for the future – abroad that some manufacturers are quietly progressing with conviction and objective.
Winning projects that inspired us
The first place went to the Labsdao team, which developed Labsmarket, a decentralized AI market which links the contributions of the real world with the economy of human AI. Their platform allows the download of secure data, the recording of intellectual property and the integration of Molps.
Second place was awarded to a thousand monkeys a thousand writing machines for their Frost project. Frost is a decentralized exchange and a token pavement built for the Deai layer 1 blockchain, aimed at laying the basics of the infrastructure of integrated in Ai-integrated.
Third place went to Oortcaptcha, a team that has developed a data labeling and decentralized and decentralized data labeling protocol. Their solution guarantees the validation of the AI resistant Sybil data, which makes it a crucial tool for the labeling of data powered by AI.
These teams are not only theorized on the future, but actively build it. Their dedication to a decentralized AI, the practical applications of blockchain and the robust development of infrastructure reminds us that if the market fluctuates, the substance prevails.
The recent Ethereum crisis and the need for long -term concentration
At the same time, while Ethdenver was a refreshing showcase of real manufacturers, the wider cryptographic space – in particular the Ethereum community – is faced with another crisis of confidence. Ethereum and Vitalik Buterin were at the center of the controversy, with growing skepticism around the dynamics of Ethereum tokens and long -term vision. The current discussions on the centralization of ignition of Ethereum, the evolution compromises and the challenges of governance have intensified, fueling the lowering feeling and the doubts about its future.
This recalls another reminder that the cycles of the crypto suddenly reflect on exposing projects that thrive on media threshing rather than sustainable innovation. Many projects that have been celebrated on the bullish markets are now faced with existential crises, unable to justify their swollen assessments. But history has shown that real manufacturers persist through these slowdowns, refining their products and proving their value over time.
Slow is fast: Building through the noise
Although the wider market can be negative, Ethdenver has strengthened my conviction that a slow, stable and thoughtful development is the only way to long -term success. The real breakthroughs in AI, the blockchain and the web3 will not come from those who will hunt media in the short term, but those who are ready to undertake to solve real problems, a block at a time.
So yes, the market can be down, but my optimism remains high. The future of AI and its decentralized approach are under construction by those who prioritize the substance on the show. This is where the true value resides, so I am always optimistic on the coming road.
