Ethereum founder and his father believe that the cryptocurrency market will grow rapidly

Ethereum co-founder Vitalik Buterin and his billionaire father Dmitry Buterin said that there is no need to worry about market volatility, and the Luna collapse should be seen as a good lesson for the crypto community. The Buterins spoke about this in an interview with Fortune.

As the Buterins explained, they are used to instability in the cryptocurrency market and are confident that a «bull run» will begin in the near future. «There have been ups and downs in the market before, and they will happen again and again. The bear market is definitely difficult, but at the same time, it is during this time that the most significant projects are developed and built,» Vitalik Buterin explained and emphasized that the Ethereum ecosystem «will become more mature and successful and will meet the hopes of millions of people over the next decade.»

The Ethereum co-founder also expressed his opinion on Terra’s downfall: «This is a good opportunity to remind investors that the downside is real.» Dmitry Buterin agreed, calling the collapse of the Luna cryptocurrency a lesson that will help move forward.

Despite the market volatility, the Buterins see numerous advantages of virtual technologies. Dmytro was particularly impressed by the actions of Ukraine, which during the Russian-Ukrainian war passed the law «On Virtual Assets,» created NFT collections for fundraising and accepted material aid in cryptocurrencies.

Vitalik called the experiments with DAOs (decentralized autonomous organizations) and NFTs an ingenious use of cryptocurrencies. However, the co-founder of Ethereum is of the opinion that digital assets will never be able to replace fiat money: «A scenario where cryptocurrencies dominate traditional money is unlikely. I don’t expect digital assets to take over the world.»