$1,330.77 8.27%
ETH · 1w

Gemini CEO Says Ethereum ($ETH) Is 'Decentralized Amazon Cloud Computing'

On Tuesday (January 12), with Ether trading above $1000, ), Tyler Winklevoss, Co-Founder and CEO of crypto exchange Gemini, described the Ethereum network as “Decentralized Amazon Cloud Computing.”

According to data by TradingView, around 06:48 UTC on Tuesday (January 12), on Bitstamp, the Ether (ETH) price got as high as $1,149.84 and as low $1,007.93 at 14:37 UTC.

Although the Ethereum price fell from around $1350 to around $912 during the two-day correction (caused by the correction in Bitcoin’s price) that started last Sunday (January 10), since then, ETH has rebounded nicely (although it is still around $400 from its all-time high of $1422, which was set in January 2018).

Currently (as of 01:51 UTC on January 13), according to data by CryptoCompare, ETH-USD is trading around $1,026.19, down 2.83% in the past 24-hour period, but up 39.21% since the start of the year.

On Tuesday, the Gemini CEO used the following tweet to describe the main use cases for various well-known crypto projects:

#Bitcoin is gold 2.0. Ether $ETH is decentralized Amazon cloud computing. @Filecoin $FIL is decentralized Amazon cloud storage. Zcash $ZEC is decentralized, private money. $DAI is a decentralized stablecoin. All of the pieces of the decentralization movement are coming together.— Tyler Winklevoss (@tyler) January 12, 2021

A few hours later, he told American billionaire entrepreneur and investor Mark Cuban why decentralized finance (DeFi) matters.

You're overlooking the biggest risk of all. Most of the world is underbanked or not banked at all. Unlike you and me, they can't borrow, can't get a loan, and never even have a chance to create a better life for themselves and their family. DeFi can fix this.— Tyler Winklevoss (@tyler) January 12, 2021
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