Telsa billionaire Elon Musk, whose tweets about "joke" meme-based cryptocurrency dogecoin helped push it to a $10 billion valuation, has warned the price of bitcoin and ethereum.
After last year's Scaling Bake-off, the popular discussion board has formed an alliance with the Ethereum Foundation to develop open-source scaling solutions.
Over the past 24 hours, the crypto market has continued to decline. Bitcoin fell below the $32,000 support level, Ethereum fell $1,300. However, DeFi tokens Onix and Uniswap led the rise.
Jan. 21 saw the overall cryptocurrency market experienced a significant recession. Bitcoin fell to $28,880, and Ethereum dropped to $1,081 after recording a new high.
With Ethereum increasing the potential of outpacing Bitcoin, the community is starting to understand the value of ETH. January 25 saw the coin hit a new all-time high of $1,475.