Tail end of a crypto bubble:Vitalik Buterin on Coinbase web traffic

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August 1, 2018 by
Tail end of a crypto bubble:Vitalik Buterin on Coinbase web traffic

Referring to the surprising drop in web traffic of Coinbase, PostOakLabs founder Tim Swanson tweeted,

Is the data from @SimilarWeb accurate? Below is the “Total visits” to @coinbase – including desktop and mobile – from the past 6 months.

See also: Coinbase adds low priced cryptos, XRP ignored. How will this affect the coin?

In reaction, Vitalik Buterin, the brain behind the creation of Ethereum, said

Is anyone surprised? We’re at the tail end of a crypto bubble.

His comment in last month reads,

There’s no ‘cure’ for bubbles except to let them run their course and pop, unfortunately.

Although Brian Armstrong, CEO of Coindesk, didn’t comment on the recent downfall in Coinbase traffic, his earlier thoughts expressed the declines are good for someone to zero in on the market trend and work more.

Armstrong said,

The crypto industry is like no other I’ve seen – lots of up and down cycles (reaching a new plateau each time). There have been 3 or 4 of these now. It can be scary the first time you see it, but to us who have been in the industry for many years, it feels like old news.

See also: 

The Coinbase CEO further added.

When there is hype, people are irrationally exuberant. When there is despair, people are irrationally pessimistic. Neither is true. Reality is always somewhere in the middle, more correlated with real usage (transactions per day) than the price. We use the down cycles to build a strong foundation so we can thrive in the next growth cycle.

Image via Shutterstock

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