Joe Lubin believes the crypto ecosystem is moving forward

The crypto-currency market has seen a slight decline but Joseph Lubin believes the ecosystem is moving forward.

Joseph Lubin, co-founder of Ethereum, stressed that the crypto-currency ecosystem is making progress despite the recent price drop. The crypto-currency market has lost more than $200 billion in the past few days as Bitcoin and other crypto-currencies have fallen.

Bitcoin slipped below the $60,000 level for the first time in weeks while Ether was trading just above the $4,100 level. In an interview with Bloomberg, Lubin stressed that the crypto space is not going backwards. Instead, the market is moving forward.

He added that the crypto market is very volatile. Lubin added that by looking at the chart of the crypto-currency market in the medium to long term rather than the short term, people will see that the ecosystem has seen massive growth.

The broader crypto-currency industry has also seen a high level of growth over the past year. According to Lubin, the emergence of areas such as decentralized finance (DeFi), decentralized organizations (DAO) and non-fungible tokens (NFT) has been dramatic.

Lubin added that the improvement recorded by decentralized entities is starting to create a positive impact not only in the crypto-currency space but beyond. The Ethereum co-founder also spoke about ConsenSys’ latest funding round, where it generated $200 billion. The company is now valued at $3.2 billion following the latest fundraising.

He said ConsenSys is focused on helping Web 3.0 grow. With the funds raised, Lubin said ConsenSys would develop tools that would allow them and other developers to create applications that would make it easier to use them.

See also  Ethereum: Is the impact of the hard fork already included in the asset price?

ConsenSys’ latest investors include HSBC, Coinbase Ventures, ParaFi, Thirdpoint and Marshall Wace. ConsenSys is popular for its wide range of blockchain products, including the MetaMask wallet browser extension and the Infura developer tool. Both Infura and Metamask have seen massive growth in recent months.