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Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem has never been better or stronger. He believes more clarity from regulators would be helpful for the crypto industry. I think our industry has suffered from having two major factions lumped into one: the money-crypto faction and the tech-crypto faction, he explained.

Ethereum co-founder Joseph Lubin discussed the state of the crypto ecosystem, regulation, and whether ether (ETH) is a security in an interview with CNBC last Wednesday.

The strength of our ecosystem has never been better or stronger, he began. While noting that There are certainly headwinds some microeconomic, financial headwinds out in the world, as well as banking issues for a small number of companies in the crypto space, he emphasized: The sizes of the conferences that are going on in Paris and Denver and Los Angeles have never been bigger. The Ethereum co-founder added:

Once the builders come into our ecosystem to build essentially an alternative economy, they dont leave. The speculators run in and they run out, but the building has never been better.

Commenting on why the prices of bitcoin and ether have been rising, he said: Because theyre sound. Bitcoin is sound money. Ether is ultrasound money the development, the use cases, the usability, the scalability in the Ethereum ecosystem its never been better. Its accelerating. Lubin also noted that the possibility of the Federal Reserve hiking interest rates less aggressively in the future has helped boost the prices of cryptocurrencies. Its an inflation hedge, he stressed.

Regarding cryptocurrency regulation and the aggressive enforcement actions by the U.S. Securities and Exchange Commission (SEC), the Ethereum co-founder opined:

I think more clarity, being more explicit would be helpful to our industry. I think our industry has suffered from having two major factions lumped into one: the money crypto faction and the tech crypto faction, which is just building decentralized protocols infrastructure.

While noting that Money crypto absolutely should be regulated and Money crypto people issued tokens that are rightly seen as securities, he argued: Tech crypto people are just technologists. We are just building infrastructure that the traditional economy can use, and our economy can use, and you dont want to regulate innovation.

Lubin also commented on regulators alleging that ether is a security. Responding to the claim made by the New York Attorney General in its lawsuit against crypto exchange Kucoin that ETH is a security, the Ethereum co-founder said: Anybody can say anything, it doesnt make it true.

SEC Chairman Gary Gensler has stated several times that all crypto tokens besides bitcoin are securities because theres a group in the middle and the public is anticipating profits based on that group. Lubin argued:

People buy barrels of oil with the expectation of profit.

When asked whether he is confident that ether is not a security, the Ethereum co-founder replied: I dont think theres any point to speculate on something that is extremely unlikely.

There are differing opinions among U.S. regulators about whether ether should be classified as a security. SEC Chair Gensler believes that ETH is a security, while the chairman of the Commodity Futures Trading Commission (CFTC) has stated multiple times that it is a commodity. However, both regulators agree that bitcoin is a commodity.

What do you think about the statements by Ethereum co-founder Joseph Lubin? Let us know in the comments section below.

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Ethereum Co-Founder Says Crypto Ecosystem Has Never Been Better or Stronger Regulation Bitcoin News - Bitcoin News

Ripple XRP/USDwas up 5% in the past 24 hours despite a negative day for Bitcoin BTC/USD and Ethereum ETH/USD, as news of the Commodities and Future Trade Commission, orCFTC, filing a lawsuit against Binance and its CEO Changpeng Zhao spreads.

What Happened: XRP Network is witnessing a surge in popularity, with its social dominance reaching its highest point in a year. This resulted in XRP soaring above $0.49 for the first time since Nov.6, 2022,according to the Santiment data tracker.

See Also: Top Indian Apps That Give Bitcoin, NFT Rewards

The data analytics platform said that increased crowd recognition for XRP has driven greater volatility in prices, fueled by an influx of greater trading volume and mainstream attention.

At the time of writing, XRP was trading at $0.47. The trading volume of XRP has increased by 55% reaching $2.1 billion in the last 24 hours, according to LunarCrush Data.

In the past 24 hours, data from CoinGlass reveals that a staggering $7.65 million worth of XRP was liquidated.

Overall 52,674 traders were liquidated inthe past 24 hours, with the total liquidations standing at $149.92 million.

Price Action: BTC was trading at $26,966, down 3.50%. ETH at $1,713 down 3.07% in the last 24 hours, according to Benzinga Pro data.

Read Next: Bitcoin, Ethereum, Dogecoin Slide After CFTC Lawsuit Against Binance: Analyst Expects Apex Crypto To Touch $30K If Macroeconomics Remains Favorable

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Ripple Soars 5% As Social Sentiment Peaks Even As Bitcoin, Ethereum Sink - Benzinga

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While ethereum (ETH-USD) remains the dominant blockchain in decentralized finance (DeFi), the adoption and usage of the operating system could retreat if it's unable to boost transaction speed, according to a recent note from Bank of America.

We view Ethereums long-term viability as dependent on its ability to fulfill the vision laid out in its road map, which includes implementing sharding architecture to expand its throughput capacity significantly, analyst Alkesh Shah wrote.

In the cryptocurrency world, throughput is a metric that measures how many transactions a blockchain can process per second. So, if ether's (ETH-USD) throughput isn't increased, then application developers will likely tap other blockchains to build on, he contended. So-called sharding refers to the splitting of the blockchain into smaller pieces, or "shards," to support a larger number of users.

The solana (SOL-USD) blockchain, meantime, can complete "way more transactions per second than Ethereum," Bradley Duke, co-CEO at digital asset investment firm ETC Group, told Seeking Alpha via email. But the former "has not gained greater market share of DeFi because far more people trust Ethereum to run smoothly, stay secure and keep its state data in sync than they do for Solana.

BofA's Shah explained that the smart contract-enabled platform of ether (ETH-USD) gave the blockchain a "first-mover advantage as developers building applications gravitated to it." That, in turn, led to network effects, he added, as the number of decentralized applications and users both expanded. Smart contracts are programs stored on a blockchain that automate certain actions required in an agreement (think of if-then logic).

All in, the ecosystem's early success "became a double-edged sword as the number of transactions became so large that network congestion occurred," driving up average transaction fees.

Ether (ETH-USD), changing hands at $1.76K as of Friday afternoon, has shot up 45.5% since the start of 2023 after enduring one of its worst years on record. From a year ago, the token was still down 44%, battered by a series of high-profile bankruptcies in the industry, increased regulatory scrutiny and economic uncertainty.

See why SA contributor Dhierin Bechai thinks ETH is a Buy.

Read more here:

Ethereum is at risk of losing its dominant status in DeFi here's why (ETH-USD) - Seeking Alpha

For the third straight week, Ethereum [ETH] investment products failed to attract the purses of digital asset investors, CoinShares 27 March report revealed.

According to the report duly delivered by James Butterfill, the altcoin faced the same fate as that of the previous weeks, seeing a $5.2 million outflow.

However, products linked to Bitcoin [BTC] had the opposite experience as the inflow was as high as $127.5 million. Every week, CoinShares discloses the activities with respect to crypto Exchange Traded Products (ETPs) across several countries.

But before the latest report, both Bitcoin and Ethereum were on the same page. This was largely due to the instability in the traditional finance sector.

However, the trust issues with the banking sector seem to have resulted in gains for the crypto ecosystem. By and large, the overall inflow totaling $160 million was the highest since July 2022.

This hike implies that the level of trust in crypto products was high at the expense of traditional institutions offers. CoinShares was of the same view even though it admitted that the inflows were relatively low at the beginning of the previous week. The report stated:

While the inflows came relatively late compared to the broader crypto market, we believe it is due to increasing fears amongst investors for stability in the traditional finance sector.

But why has Ethereum failed to take a significant share of the input since it was the second-largest cryptocurrency in market value? Well, the long-standing investment group opined that Ethereums decline could be due to several factors. And like CoinShares opined last week, the Shanghai upgrade topped the list. The trading firm pointed out,

We believe investor jitters around the Shanghai upgrade (expected 12th April) are the most likely reason

The event, expected to happen in a few weeks, would set the grounds for staking withdrawals which could, in turn, result in selling pressure.

Besides that, recent Ethereum developments have not necessarily resulted in a positive price action. So, it could be valid that investors are being skeptic about committing funds to products related to the altcoin.

However, Bitcoin was not the only claimant with respect to improved inflow as some other altcoins joined the fray. For instance, Ripple [XRP], which outperformed several cryptocurrencies in the past week got inflows worth $1.2 million.

Polygon [MATIC], and Solana [SOL] received inflows worth $1.9 million and $4.8 million respectively.

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Ethereum suffers yet another weekly outflow, but how did BTC perform - AMBCrypto News

Ethereumis known not only as the second-biggest cryptocurrency but also as the second-generation cryptocurrency. The blockchain not only brought Decentralized Finance (DeFi) to the crypto space but also framed a target on its back following its Proof of Stake transition plan. A target that regulators have aimed and shot at repeatedly.

XRP price has kept its momentum, flashing green on the one-day timeframe as the countdown to the Ripple vs SEC lawsuit continues. The remittance token is moving in tandem with our predictionlast week, soaring by a significant margin to secure a place among the best-performing cryptocurrencies on a one-week timeframe.

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Cryptocurrencies Price Prediction: Ethereum & Ripple Asian Wrap 28 March - FXStreet