The Ethereum co-founder advised weary cryptocurrency investors to stay away from price tracking and focus on technology instead.

Ethereum co-founder Vitalik Buterin shared some wise advice for traders feeling the crisis of the cryptocurrency market: Focus on technology instead of price.

The Ethereum co-founder made this recommendation in response to a December 3 post from CoinMamba, which describes himself as a cryptocurrency investor, reflecting how many crypto investors are feeling right now.

“After 9 years in crypto, I’m a little tired. I want to move on and do something different in my life. I’m sick of all these scammers and scammers,” CoinMamba said.

The cryptocurrency industry has continued to be bombarded with hateful news since the recent collapse and consequent infection of FTX, which claimed cryptocurrency exchange BlockFi.

Anker, the BNB chain-based decentralized finance (DeFi) protocol, recently confirmed a multimillion-dollar exploit on Dec.

Even before that, hackers were responsible for stealing more than $2.98 billion in digital assets in 2022, according to statistics from blockchain security company PeckShield.

Most of it was the Ronin Bridge exploit that led to the theft of $625 million worth of crypto assets in March.

Buterin suggests moving away from the trade and investment “peripheries” and approaching the “technology and applications ecosystem” instead, as a way to combat all the negativity.

“I would recommend moving away from the trade/investment circles and approaching the technology and application ecosystem,” he said.

“Learn about ZK-SNARKs, visit a meetup in Latin America, listen to all Core Devs calls and read notes to memorize all EIP numbers…”

Etherpool and The Daily Gwei presenter Anthony Sasano agrees, saying the bears are “the perfect time” to step away from market surveillance and learn more about the technology.

“More signals than noise (especially in the Ethereum ecosystem) and the technology side is already much more exciting than the markets.”

Ethereum has given investors a lot to focus on this year with the completion of the long-awaited merger on September 15 that saw the network move from a Proof of Work consensus to a Proof of Stake (PoS) consensus.

Buterin later added a new class of milestones to the Ethereum technology roadmap that aims to increase censorship resistance and decentralize the Ethereum network.

“Engaging in technology is a really important and positive cultural focus for price movements compared to getting involved,” Buterin said in a recent tweet.

Related: Vitalik Buterin lectures on crypto following FTX crash

In November, Buterin told Bloomberg that the collapse of cryptocurrency exchange FTX brought lessons to the entire crypto ecosystem.

He described FTX’s collapse as a “major tragedy,” but noted that the problem was people, not technology – adding that the fundamental stability of the distributed ledger and the technology that powers the crypto-asset economy is beyond doubt.

Source: CoinTelegraph

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