Joseph Lubin, co-founder of Ethereum, emphasizes that current market models fail to capture Ethereum's full potential as the foundation for decentralized finance.
Ethereum's Role in Decentralized Finance
Lubin highlighted Ethereum's growing role as a foundational layer for decentralized finance, artificial intelligence, and global trust systems. He emphasized that Ethereum is becoming a 'global trust layer,' powering applications and infrastructure beyond the scope of conventional finance. In his view, Ethereum can be likened to 'digital oil' — a necessary fuel for decentralized systems.
Technical Upgrades of Ethereum
The Ethereum Pectra upgrade, launched in early May, added support for EIP-7702 (account abstraction), doubled blob data capacity, and improved smart wallet infrastructure. These enhancements aim to make Ethereum more scalable and accessible. On June 18, Arbitrum deployed its Callisto upgrade, incorporating many of these changes, affirming Ethereum's growth as a development platform.
Market Analysis of Ethereum
Ethereum's price remained relatively stable, hovering around $2,520 with a 24-hour trading volume of $18.4 billion. Despite low volatility, key technical levels continue to attract institutional interest. Lubin believes the market still misunderstands Ethereum, and its role as a decentralized trust system is likely to expand with the development of AI and automation.
Lubin asserts that current market modeling does not account for the depth and power of Ethereum as an infrastructure for contemporary financial systems, suggesting a reevaluation of its potential value in the light of new economic realities.
