Summary
- Tom Lee, chairman of BitMine, said there is a "0%%" chance of a crisis emerging in response to an Ethereum core developer's concerns over a protocol funding crisis.
- Lee said funding is secured within the Ethereum network, underscoring the stability of the Ethereum ecosystem.
- BitMine has increased its Ether holdings every week and now holds a total of 5.62 million coins, equal to 4.66%% of total Ethereum supply.
Forecast Trend Report by Period
An Ethereum core developer has warned that the network is nearing a major institutional inflection point, including the possibility of a protocol funding crisis. Tom Lee, chairman of BitMine, rejected that view on June 19, saying there was "0%" chance such a crisis would occur.
Trent Van Epps, an Ethereum core developer, recently said Ethereum has entered an important institutional turning point. He raised concerns that issues around the distribution of legitimacy within the ecosystem and its governance structure could trigger a protocol funding crisis.
Lee pushed back immediately. The odds of such a crisis hitting the Ethereum network are "0%," he said, adding that funding is secured within the Ethereum ecosystem.
Lee's confidence appears to reflect BitMine's aggressive Ether accumulation. The company has been increasing its Ether holdings every week. As a result, BitMine's total Ether holdings have surpassed 5.62 million coins, equal to 4.66% of Ethereum's total supply.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
