Although Ethereum is the next best cryptocurrency next to Bitcoin, it has still experienced a hit in recent weeks since the market crash.
Ethereum is currently down 65% from its all-time high, yet other top cryptocurrencies, including BNB and Solana, are experiencing even harsher lows.
Ethereum cofounder Gavin Wood is now warning crypto investors to “pay more attention.”
“I would hope that people pay more attention to what is belying the currency name when they get involved in a community, ecosystem, economy,” Wood said while speaking at the World Economic Forum.
“The technology cannot prevent people from making mistakes but can help those who want to understand better the facts of the world, what they’re buying.”
The most recent market crash was mainly due to the de-pegging of algorithmic stablecoin terraUSD, which has created fear and doubt in the space.
Wood wants to decentralize the internet but seems to be skeptical of regulation, stating, “The internet has no real concept of legality, because legality is something that is determined by sovereign nations.”
