The host of the YouTube channel Altcoin Daily says that despite the market drop, money continues to flow into the leading altcoin Ethereum (ETH). Austin Arnold says in a new video that developers continue to build on Ethereum regardless of market conditions. Cryptocoin. com, we convey the details…
Altcoin Daily draws attention to Ethereum
Stating that although there is a short-term consolidation and decline in the ETH price, the developments on the Ethereum network continue without slowing down, Arnold points to the plans to launch a $ 50,000,000 accelerator fund for metaverse initiatives by the Ethereum-based metaverse platform The Sandbox (SAND). uses:
This is a massive cash injection into the Ethereum metaverse, The Sandbox. So we’re about to see a lot of builds… This doesn’t just go into the metaverse of The Sandbox. In general, it is moving towards creating an interoperable, open network.
Looking into the future, Arnold says that Ethereum scalability issues will be partially resolved with zero-knowledge (ZK) rollup technology, a scalability solution that runs computations from the chain and then presents a validity report. In this thread, he mentions that BitDAO launched this $200 million initiative to advance Ethereum scaling efforts.
According to the Altcoin Daily host, a nascent crypto industry will boost Ethereum even further: Non-fungible tokens (NFTs). App researcher Nima Owji recently revealed that the Reddit social platform will soon allow users to set any NFT as their profile picture. Reddit has already been in the NFT world with the release of its collection CryptoSnoos. While Arnold states that NFT profile pictures are just a test, he reminds his viewers how big an adoption this could be for crypto.
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