ConsenSys founder 'bullish' on Ethereum following crypto winter performance

cointelegraph.com:

With Ethereum showing resilience through the latest cryptocurrency winter, ConsenSys founder Joe Lubin says he’s ‘bullish’ over Ether's (ETH) relative stability through compounding macro events. 

Cointelegraph Magazine editor Andrew Fenton spoke to Lubin at the Web3 event Building Blocks 23 in Tel Aviv, Israel, for an all-encompassing interview around the current state and future of the Ethereum ecosystem landscape.

The co-founder of the preeminent smart contract blockchain protocol touched on a number of subjects, including ETH’s market performance over the past year. A myriad of macro events, including the collapse of algorithmic stablecoin Terra/LUNA and the demise of cryptocurrency exchange FTX, played their role in what Lubin described as a blow off top for the ecosystem:

Lubin likened the past 12 months to the early 2000s, where the dot-com boom and bust saw 'crazy ideas' explored driven by 'exuberance' for geopolitical, economic and ecosystem reasons. He believes the same type of exuberance may not drive investors in the crypto space in the near future but sees potential for more great projects and 'tremendous innovation':

Despite a tough year for the cryptocurrency markets, Lubin takes positives out of the resilience of the Ethereum ecosystem and the value being realized by ‘high profile companies’ exploring what can be built within nonfungible token (NFT) space in particular.

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The ConsenSys founder added that ETH’s ability to hold its value around $1200 for an extended period while certain ‘CeFi’ players imploded was reason to be positive for the future of the ecosystem:

The Ethereum Merge also played an important role in the market value of ETH in recent