Ethereum creator Vitalik Buterin in recent tweet mentioned about crypto adoption. And now, he shared his thoughts about the present scenario of the crypto market. The comment was made when founder of PostOakLabs, Tim Swanson posted screenshot on Twitter showing the web traffic drop of Coinbase.
Tim Swanson wrote, “Is the data from @SimilarWeb accurate? below is the “Total visits” to @coinbase – including desktop and mobile – from the past 6 months.”
Referring to the post Vitalik Buterin commented, “Is anyone surprised? We’re at the tail end of a crypto bubble.” This is not the first time Vitalik Buterin commented on the ups and downs of the market. Just last month, he said, “There’s no ‘cure’ for bubbles except to let them run their course and pop, unfortunately.”
is the data from @SimilarWeb accurate?
— Tim Swanson (@ofnumbers) July 31, 2018
Coinbase CEO’s take
Coinbase CEO Brian Armstrong did not comment on this particular post but he had previously shared his thoughts on the ups and downs of the market. Previously, he said that downturns are a good time to focus and work more.
Armstrong said, “The crypto industry is like no other I’ve seen – lots of up and down cycles (reaching a new plateau each time). There have been 3 or 4 of these now. It can be scary the first time you see it, but to us who have been in the industry for many years, it feels like old news.”
“When there is hype, people are irrationally exuberant. When there is despair, people are irrationally pessimistic. Neither is true. Reality is always somewhere in the middle, more correlated with real usage (transactions per day) than the price,” he added, “We use the down cycles to build a strong foundation so we can thrive in the next growth cycle.”
Image via Shutterstock
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