It is no secret that early Ethereum (ETH) ICO buyers later became whales and potential multi-millionaires. But the project also seemed extremely generous to its developers.
Ethereum Devs Got Paid for Short-Term Involvement
Ethereum, which went through multiple phases of pre-mining, actual mining, and as much as eight hard forks, has always been accompanied by the guidance of Vitalik Buterin and a small, fluctuating team of developers.
Based on Trustnodes’ blockchain forensic research, it seems the work devs did, even in the earliest days of Ethereum, was compensated with 12 million ETH. One smart contract titled EthDev paid out large initial sums to Vitalik Buterin and several other addresses.
Just lately, one of those addresses was identified to belong to Jeffrey Wilcke, an early Geth developer. Wilcke has moved on from the Ethereum project, but not before transferring 90,000 ETH to Kraken, with the intent to liquidate.
Four other accounts received sums close in scale, at about 100,000 ETH, a significant sum even at today’s prices. At this point, it is uncertain which developers received those payouts, and for what roles. ETH devs are not a solid group, with contributors coming and going, and becoming early-adopter “whales” in the process.
The series of transfers that delineate the ETH developer allocations are relatively small in comparison to the premine and initial creation of tokens to distribute to early ICO buyers. About 60 million ETH was created fast in the early days, and distributed to early buyers at severely slashed prices. Now, the total supply of ETH exceeds 109 million tokens, but the network still faces multiple “whale” problems, especially when it comes to attempts to cash out.
ETH 2.0 Still in the Works, Siphons Off Dev Talent
Additionally, developers are now working on ETH 2.0 features, with the original network left understaffed, commented Péter Szilágyi, self-described team lead at the Ethereum Foundation.
“I think the issue stems from everyone jumping on the Eth2 train. That’s all the rage for the past 2 years now, and it just siphons attention away from the system that actually works today. The people remaining behind are just spread too thinly to pay attention to everything.”
The switch to ETH 2.0 has generated more skepticism than hype. Additionally, the decision of early ETH devs to abandon ship starts to look bad on the project. This has led to more expectations of ETH crashing to new lows, away from predictions of commanding much higher prices and competing with Bitcoin (BTC).
ETH traded at $128.02, recovering from recent lows at about $125. The asset looks shaky, though the reported large-scale sale on Kraken did not depress prices as much as expected.
What do you think about the Ethereum developer rewards? Share your thoughts in the comments section below!
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FAQs
Reaching $3000 from current levels amounts to a growth of about 33%. To have a million dollars worth of Ethereum at $3000, you would need around 333.33 ETH tokens. The cost of 333.33 ETH at current prices is about $747,333.
What will Ethereum be worth in 2024? ›
ETH Price Prediction 2024-2030
| Year | Minimum Price / Maximum Price |
|---|
| 2024 | $4500 to $5200 |
| 2024 | $7850 to $10,500 |
3 days ago
ETH price could end the trade for March 2024 with a potential high of $4,900. By the end of 2030, the predicted Ethereum price could soar to a peak of $26,575.21. The current price of 1 Ethereum is $ 3,283.79236437.
Can Ethereum reach $50,000? ›
Ethereum prices could surpass $50,000 by 2030 in a best-case scenario, according to VanEck. But that would require a significant rise in activity on the ethereum blockchain over the next six years. When more apps are running on the blockchain, increased fee revenue is generated.
How much will 1 Ethereum be worth in 2030? ›
Ethereum (ETH) Price Prediction 2024-2040
| Year | Minimum Price | Average Price |
|---|
| 2029 | $27,972.20 | $28,748.12 |
| 2030 | $39,528.05 | $40,964.90 |
| 2031 | $55,196.48 | $57,245.27 |
| 2032 | $81,940.81 | $84,803.52 |
8 more rowsEther Could Run to $10,000 or Higher This Year on Numerous Catalysts: Bitwise.
How much will 1 bitcoin be worth in 2030? ›
Bitcoin (BTC) Price Prediction 2030
According to your price prediction input for Bitcoin, the value of BTC may increase by +5% and reach $ 86,961.79 by 2030.
What will 1 Ethereum be worth in 2050? ›
Ethereum price prediction for 2050
If Ethereum were to grow by an average yearly rate of 11.1%, the ETH price prediction for 2050 would be approximately $52,692. This would imply a market capitalization of $5.91 trillion, based on the current ETH supply. No cryptocurrency has reached such a valuation so far.
What is a realistic price for Ethereum in 2025? ›
According to our Ethereum forecast for 2025, Ethereum's price will average around $7,600 in 2025.
Can Ethereum reach 100k? ›
There is no path for Ethereum to hit 100k before 2030, it's impossible. ETH can realistically hit $10,000 in the coming years, either in 2025 or in 2026. We are confident with our current 2024 ETH prediction, in which we forecast ETH to hit $3,525.50 before summer of 2024.
Ethereum (ETH) Price Prediction 2030
| Year | Price |
|---|
| 2025 | $ 3,365.73 |
| 2026 | $ 3,534.02 |
| 2027 | $ 3,710.72 |
| 2030 | $ 4,295.62 |
1 more rowBy the year 2025, Ethereum is expected to reach the maximum level of $6,500 with a minimum of $ 4,500 and an average of $5,500. And by the year 2030, it is expected that it may go up to a maximum of $20,500. The current year will witness the Dencun upgrade, which is anticipated to positively boost the value of ETH.
How much will $100 Bitcoin be worth in 10 years? ›
A $100 investment in Bitcoin could purchase 0.00607 BTC today based on a price of $16,466.14 at the time of writing. If Bitcoin hits the $1 million price target by Wood in 2030, the $100 investment would turn into $6,070. This represents a gain of 5,970% from now until 2030.
Can ETH reach 20k? ›
Analysts have predicted ethereum is set to soar to almost $20,000 by 2025, an increase of 400% from its current price, with "major upgrades" to the ethereum network potentially pushing it higher. What kind of tech updates and adoption would it take for Ethereum to reach $20,000? Is $20k even possible?
Can Ethereum reach $15,000? ›
However, if liquidity improves gradually and blockchain takes off much more slowly, Ethereum Price is likely to reach $15000 by 2033. Ethereum at $50k will have a market cap of $4 Trillion. In theory, this is possible.
Can Ethereum reach $30,000? ›
- According to CoinCulture, Ethereum's price could reach $4,000 by the end of 2024, based on the technical analysis and indicators of ETH's price action. By 2025, Ethereum's price could range from $5,000 to $7,000, and by 2030, it could reach $30,000, based on the extrapolation of ETH's price cycles and waves.
Could Ethereum reach $100,000? ›
It's nearly impossible. There is no path for Ethereum to hit 100k before 2030, it's impossible. ETH can realistically hit $10,000 in the coming years, either in 2025 or in 2026. We are confident with our current 2024 ETH prediction, in which we forecast ETH to hit $3,525.50 before summer of 2024.
How much do I need to invest in crypto to become a millionaire? ›
Assuming an annualized return of 30%, one would need to invest roughly $85,500 annually for five years to hit millionaire status. Over 10 years, this number falls to around $18,250. For a 20-year period, you would only need to invest a mere $1,225 per year.
How much can I make if I invest $100 in Ethereum? ›
Right now, the price of Ethereum (ETH) is $3,085.19, with a marketcap of $370,393,372,025. If you had invested $100 in Ethereum a week ago, the amount would have become $87.18 now. If you invested $100 in Ethereum a year ago then then your $100 would have become $147.24 now.
