# ETH is 10 years old today!

Source: https://x.com/drakefjustin/status/1815316383233925498
Kiwi News: https://news.kiwistand.com/stories/ETH-is-10-years-old-today?index=0x669e27fa09a60ce7b0d16a5459c2ecf24ad4262872ad032fcbfe462a73ca101b5a1b14a9
Submitted by misha on 2024-07-22 UTC, 5 upvotes, 0 comments

## Summary

The article marks the tenth anniversary of Ether (ETH), whose ICO began July 22, 2014, when ETH was sold at 2,000 ETH per 1 BTC without VCs or vesting. It states that 1 BTC now buys less than 20 ETH, and that few assets have outperformed BTC over 10 years, with fewer doing so by 100x. The author cites 4.3M ETH burned for gas since EIP-1559, staking that provides $100B of economic security (10x Bitcoin's), and US spot ETH ETFs starting to trade the following day.

## Article

ETH is 10 years old today!

The ether ICO started July 22, 2014. Back then ETH was sold on Bitcoin at a rate of 2,000 ETH per 1 BTC—totally permissionless, no VCs, no vesting.

Today 1 BTC buys less than 20 ETH. Few assets have outperformed BTC over 10 years; even fewer have outperformed by 100x.

ETH is blockspace currency. 4.3M ETH have been burned to pay for gas since EIP-1559. Many more millions of ETH will be burned for blobs.

Through staking ETH provides $100B of economic security for Ethereum, 10x more than Bitcoin. ETH is also pristine collateral for defi and restaking, unlocking economic bandwidth in size for the internet of value.

Tomorrow ETH spot ETFs start trading in the US. ETH is now widely recognised as a digital commodity. The institutional journey is starting.

And for those who know what the emojis mean, ETH is 🦇🔊 :)