Celebrating the Good Times - The Daily Gwei #199

Taking a step back to take it all in.

My favorite times to be in the Ethereum community are when we’re all celebrating a major event on Twitter. Whether it be a rapid price rise, a new development (like EIP-1559 being accepted into London) or a significant milestone (like launching eth2) or really anything else - being part of this community is just something special.

I remember back on November 24th in 2020 when everyone was watching the eth2 deposit contract and waiting for it to tick up to the minimum ETH required (524,288) to launch the eth2 Beacon Chain on December 1st. Twitter was on absolute fire, the memes were flowing and people from all sorts of communities were taking part in the “festivities”. Then when the milestone was hit the entire community simultaneously celebrated it in such a big way that I’m pretty sure all of crypto twitter was dominated by news of the event for a few hours. For those who were around to witness this I’m sure you’ll remember how exhilarating it was to be apart of this event!

Outside of major milestones like the above it’s also really fun to celebrate a price rise in ETH with friends in the community. Many of us look at a rising ETH price as a signal from the market that they value the fundamentals of the Ethereum network and are finally “pricing it in”. Of course people also get excited because they hold ETH and are making paper gains but I don’t think there’s anything wrong with that - after all, being monetarily invested in something is one of the most powerful ways to align incentives in these networks and a great way to motivate people to stick around and continue to be part of the community.

I think the next major things that Ethereans will be celebrating together in a big way will be the deployments and adoption of various layer 2 solutions like Optimism, Arbitrum and Immutable X. Everyone has been waiting for Ethereum to scale for quite a while now so watching projects migrate to these solutions and monitoring the adoption metrics is going to be something very fun to be involved with. Additionally, we’ll soon be able to monitor how much ETH is being burned once EIP-1559 is deployed - very exciting times ahead!

Have a great day everyone,
Anthony Sassano

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All information presented above is for educational purposes only and should not be taken as investment advice.