One of the world’s leading entrepreneurs, Elon Musk recently tweeted ‘Ethereum’ and straight after his tweet, the market trend of ETH started to enter the green zone. Elon Musk has been interested in cryptocurrency for a while now and being a top-level and renowned business, it matters that what he says regarding any market.
Having a large number of followers on social media, Musk’s tweet was seen by millions. Elon after his tweet ‘Ethereum’, again tweeted ‘JK’ which means ‘JOKE’. After this, the CEO of Ethereum, Vitalik Buterin invited Musk to Ethereum’s upcoming conference Devcon 5, which is being held in October. In reply, Musk flirted with Vitalik and said that stop giving free Ethereum, but later on, being serious, he asked him what should be developed on Ethereum?
Vitalik answered to Musk’s in a proper way and gave his key points and objectives that what are ETH planning to do in the future and what is the core objective of the digital asset. Ethereum wants a globally accessible financial system, including the payments, store of value, also more advanced stuff like insurance. A p2p marketplace for internet connections and incentivized mesh networks. Identification, reputation and credit systems for those that currently have few resources (eg. refugees) and many other incentives through which the world could be benefited with this new technology.
In the real world, we have examples where these normal debates turn into potential collaborations and investments in later stages. Elon Musk increasing interest towards cryptocurrency can be seen when he talked about BTC and DOGE. He has talked more on Bitcoin and Dogecoin in recent times.
Talking more about Ethereum, ETH recently launched its EVMC version 6.2.0. Some new features have been added to this version which includes CMake option to build evmc-vmtester without bothering with internal unit tests, Initial and rough bindings for Rust, Cable upgradation to version 0.2.17, and the full C++ EVMC API for both VM and host implementations.
Since the tweet of Elon Musk, Ethereum has surged up to almost 5%. At the time of writing, Ethereum (ETH) was trading with a price of $159.26 USD. Though ETH has dropped its price in the last three to four days, it is trying to catch the price mark of $160 and above once again. At the moment, ETH was trading with a market cap of $16.8 billion and a trading volume of $6 billion. The volume shows its power in the market and gradually as the power of Bitcoin is decreasing there is an opportunity for assets like Ethereum to have a major impact in the market.