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Amid the rush and excitement of Ethereum's (ETH) return to green, Ethereum co-founder Vitalik Buterin issued a stark warning to Twitter on the 30th of October 2022.
Described as a "controversial take", Buterin went on to advise: "I don't think we should be enthusiastically pursuing large institutional capital at full speed" and that the "ecosystem needs time to mature before we get even more attention".
In a warning out of place during the crypto community's hype, the founder of Ethereum shared a pessimistic view of Uptober's spikes and what it could mean for the market.
In a time where newer projects than Ethereum can gain over $10,000,000 in presales in two months (as is the case with Big Eyes Coin (BIG)), is crypto hurting towards a direction that can end in unbeatable success or disastrous catastrophe?
On CoinMarketCap, viewers are blinded-sided by green whenever they witness Etheruem's listing. So much green, in fact, makes them forget the previous troublesome months of the bear market.
From the 1st to the 31st of October 2022, ETH rocketed an additional $36.23 billion in market capitalization. That is a jump of around 22% in its token price. Something very few investors expected during the crypto winter.
The most significant period of growth started after the 25th of October. This followed several world-changing events such as Rishi Sunak's, a crypto supporter, appointment as Prime Minister of the UK and Elon Musk's acquisition of Twitter.
Buterin's caution may come across as a doomsayer to some crypto enthusiasts as the market returns to its former glory. However, others believe his warning is warranted.
If the crypto were to reach greater heights than before, then Buterin and many crypto players fear it could merge with traditional and regulated financial markets at too great of a speed. And as a consequence, unthought-out regulation could cripple the crypto market.
Firmly believing crypto ecosystems need more time to mature to compete with regulated and traditional finance, Buterin is one of the few crypto experts not too happy about the market's recent spike.
Perhaps, this crypto tidal wave of green is unstoppable. Even before Ethereum's 22% price hike, the up-and-coming Big Eyes Coin was experiencing a phenomenal presale. Highlighting that if the market moves, there is no preventing it.
Big Eyes Coin has managed to raise over $10 million in presales over two months, often seen jumping half a million in a single day. Another measure of its success is amassing nearly 60,000 Twitter followers in addition to having the backing of several crypto influencers, including GinoAssereto and yuroet.
Built on the Ethereum blockchain, Big Eyes Coin is a Defi community-based meme coin surrounding the cat Big Eyes and its noble quest to save the world's oceans. A 5% charity wallet dedicated to ocean sanctuaries and ocean-themed NFT collections will help it achieve this wholesome goal.
A much-debated topic among crypto communities right now, both established coins such as Ethereum, as well as new meme tokens like Big Eyes Coin, look to have a bright future ahead of them.
But if the last few challenging months have taught crypto holders anything, it is that at any moment, the crypto markets can twist and turn. It takes an eagle eye and good research to deduct which direction digital currencies are going.
For now, some crypto enthusiasts are investing in Ethereum and Big Eyes Coin before it is too late.
Use the code BIG584 for a BIG bonus.
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
