Hooray! ETH Celebrates 8th Anniversary With Crypto Community!

<p>&nbsp;“Happy birthday ETH, may it grow further in the future.”</p><p><br /></p><p>The cryptocurrency community gathered in jubilation to celebrate the 8th anniversary of the Ethereum (ETH) network which was successfully officially launched by the ETH Foundation on July 30, 2015.</p><p><br /></p><p>ETH which has grown into the second largest crypto has a market capitalization of $225 billion currently and has over 1,900 monthly active developers.</p><p><br /></p><p>Besides sharing fond memories and looking back at prices, development and overall growth since its inception, the event hosted by Bankless with Ryan Sean Adams revealed a few things.</p><p><br /></p><p>Among them is that ETH has $400 billion in guaranteed value, $3.6 billion in annual profits and a total of 17.8 million digital asset blocks.</p><p><br /></p><p><br /></p><p>Binance Chief Executive Officer (CEO) Changpeng Zhao (CZ) celebrated the digital asset's anniversary by recounting the time ETH co-founder Vitalik Buterin stayed with him in Tokyo a few months before ETH's launch.</p><p><br /></p><p>Not only that, Udi Wertheimer who also celebrated the event included a bit of humor by referring to the ETH network as his favorite BTC sidechain.</p><p><br /></p><p>ETH allowing developers to build new blockchain-based smart contracts and applications has been instrumental to initial coin offerings (ICOs) in late 2017 including decentralized finance (DeFi) protocols and development.</p><p><br /></p><p>On September 15, 2022, ETH successfully upgraded from Proof-of-Work (PoW) to Proof-of-Stake (PoS) to reduce energy consumption and allow validators and investors to stake.</p><p><br /></p><p>So here it can be seen that ETH has recorded an all-time high above $4,878 on November 10, 2021, but has started to slowly decline as it now stands at $1,866.</p>