The crash last week did not just affect prices. As a matter of fact it tested the fundamentals of every single blockchain.. and guess what, Ethereum came out stronger. When everything turned red and everyone was panicking to sell network usage exploded. Fees skyrocketed even on Layer 2's because traders rushed to transfer their coins and also manage liquidations.
In the middle of all that chaos Ethereum was steady and held firm!! Let's go through some numbers:
- Ethereum handled almost 3k transactions per second with a failure rate below 1%. This kind of stability under conditions of extreme stress is very rare in crypto.
- In the past week alone more than 3.4k coins were burned. You can see how much demand the network had.
Some haters were complaining about high fees again, yes high usage = high fees but also that means Ethereum is the go-to when things get serious. This crash was not merely a stress test but also proof of resilience. Ethereum did not bend under pressure, it processed billions of volume without breaking.. something the majority of its competitors cannot say. That matters to institutions that are watching from the outside, Ethereum just proved that it is ready for them. Reliability is what turns technology into infrastructure!!
Resources:
Ethereum passed the market crash stress test and that is a big deal.
byu/MasterpieceLoud4931 inethtrader
Posted by MasterpieceLoud4931
8 Comments
[deleted]
Not a big deal at all. This was just a panic day triggered by Trump’s tweet. Everything is going up today, not just ethereum. It didn’t pass a « test » .
This is the post I’ve been waiting for. I have been unusually calm during all this knowing eth had been building for these occurrences . Preperation for edges cases are really what makes me confident in the ethereum development. Can any body direct me to some further info/ investigations into the response of the block chain during all this?
Also, is it true that all of the leverage that was in the system was due to dex’s built on eth?
It didn’t pass anything. Everything went down and everything is now going back up.
The ethereum chart actually does not look good right now with lower highs. It needs to do some work to get out of this before it looks like ATH again.
What problems other blockchains were having during that very same moment of the trump crash?
I think market crashes can hurt ETH temporarily, but not for the long-term with institutional backing.
In short, I’d say ETH has already passed through its toughest phase.
^(!tip 1)
Some other network would’ve shut down with such volume being processed. Eth has really evolved overtime and the trust on the network is soaring. !tip 1
Literally 90% of coins have bounced back. Even some shit, no value coins are back to pre-dip prices. Crypto in the long term is affected by sentiment and nothing else IMO. Use case, decent white papers and economic or political turmoil will have an effect to some point but sentiment is king and everyone is expecting a good October so it will be willed into reality.