Notably, Ethereum’s performance in the new year has been nothing short of impressive, with an influx of stablecoins into the network. The past week alone has seen a whopping $1.11 billion increase in stablecoins, as reported by LookOnChain. Following closely is Solana with $202.13 million, while TON is in third place, having attracted $202 million.
This increase in liquidity has had a positive impact on Ethereum’s price. As of the time of writing this article, the price of Ethereum’s token, ETH, stands at $3,689, indicating a 1.6% rise in the last 24 hours and an 11% rise over the past week. Currently, ETH is trading at a crucial price resistance level.
Key price levels to watch for include a resistance level at $4,003. On the flip side, if the upward momentum fails to sustain, the nearest support level is at $3,444. This bullish sentiment is supported by technical analysis, with Ethereum’s price remaining resilient above key moving averages such as the 50 and 200 moving averages.
If Ethereum can sustain this bullish momentum and break the $4,000 resistance level, the next few months could be pivotal in determining whether the digital asset will reach new highs.
In parallel with the rise of Ethereum, co-founder Vitalik Buterin has been vocal about the potential risks associated with artificial intelligence (AI). With AI rapidly evolving, the idea of superintelligent systems surpassing human control is a real concern. Recognizing these potential dangers, Buterin recently proposed a strategy that emphasizes decentralization and democratic safeguards to prevent AI from becoming an existential threat.
Buterin’s approach calls for a balanced formula that not only accelerates defensive technologies but also ensures transparency and accountability through effective regulation. His proposal includes building technology that safeguards humanity without the assumption that “the good guys” will always be in control. A core element of his defense strategy is “decentralized and democratic differential defensive acceleration,” or d/acc. This strategy aims at empowering individuals rather than centralized authorities to control critical resources, thereby preventing AI development from falling under the control of potentially harmful governments or corporations.
While Buterin acknowledges the challenges in regulating open-source systems or military applications, he remains firm on the necessity of accountability to ensure responsible AI development. A more radical proposal from him suggests a “global soft pause” on AI development, specifically targeting the large-scale computing hardware used to train superintelligent models.
As Ethereum continues to gain traction and AI continues to evolve, the insightful words and actions of individuals like Buterin will be crucial in shaping the future of both.
