We're seeing Ethereum crest $2000 again. Fantastic, right? Another green candle, more money sloshing around. But before we all start popping champagne, let's ask a crucial question: who is actually benefiting from this surge? And are we truly creating a more equitable financial future with these technologies, or just making the early movers and the rich get richer?

Whose Table Is Being Set?

Think about it: Ethereum's promise was always more than just a speculative asset. Decentralization is important. It prepares and empowers people and communities. It helps to create an alternative financial infrastructure that is not under the thumb of traditional financial institutions. Is that really what we’re witnessing?

I’m writing this from Johannesburg, where the impact of income inequality is all too evident. While many are celebrating ETH breaking the $2000 mark, countless others can’t afford to fill up their gas tanks. Ethereum’s growing gas fees are a by-product of this activity and soaring price. This increased demand disproportionately affects smaller users – the exact people decentralization efforts are meant to protect – making it difficult for them to use the network. Now, picture that process, but for a remittance—say, you’re sending just a few bucks to a relative in need. Now imagine that the transaction fee steals a large chunk of it! It's not just frustrating; it's fundamentally unfair.

It’s the equivalent of constructing a beautiful banquet hall, except only the rich can get a ticket to the banquet. The rest of us are left outside, looking in, waiting for this revolution to finally include us.

DeFi Dreams, Reality Check Needed

DeFi, or Decentralized Finance, had all the promise in the world. Honey pots providing them access to credit, yield farming and more, all without ever needing a bank. This would be especially transformative for our nation’s underserved communities. Its greatest effect, however, is seen in areas like Africa, where banking access is often scarce or inaccessible.

Let's be honest: how accessible is DeFi to the average person? The complexity, the chance of rug pulls, the exorbitant gas fees – it’s a disaster. The good Some DeFi projects really do want to change the world. But most of them are just a way to make their founders and the first investors rich.

We need to ask ourselves: are we building inclusive DeFi, or just a new playground for the wealthy to gamble with even more complex instruments?

Beyond The Price Chart—Human Stories Matter

Ethereum hitting the $2000 mark may be an attention-grabbing headline, but lurking behind that headline are real nuanced stories and experiences. We need to start telling their stories.

Through the support of a microloan she took out from a DeFi platform, she was able to scale her business and provide for additional employment. Describe the Ghanaian farmer who started using a blockchain-based supply chain solution. Thanks to this technology, he was able to eliminate the middlemen and get a better price for his cocoa beans! Share the story of the DAO that is empowering a small South African community. And how does it assist them in being better stewards of their resources.

I do want to hear from the people who made no money or even lost money because they invested in DeFi scams. I’d like to hear from the people who are now priced out of using the Ethereum network. Exorbitant gas fees forced them out. I’d like to know the environmental impact of Ethereum, even post-Merge. What worries me most is the disparate impact this is having on our most vulnerable communities.

The good news is that Ethereum needs to close daily candles above $2,000 only on a regular basis. Accomplishing this will build credibility behind the breakout and set a new support level. What if the true support we should all be striving for is the moral support? Are we going to forge a future where this technology is genuinely liberating, or is it simply going to deepen the inequalities that already surround us?

A Higher Low, Or A Moral Low?

The highlighted $2820 resistance level in our crypto news is just an important crossroads for the price. It doesn’t tell the whole story.

Ethereum’s $2000 increase is more than just a figure on an exchange. It's a reflection of our values. It’s a litmus test of our seriousness about creating a more equitable, sustainable future. It’s past time we got serious about making sure we’re not just enriching a few millionaires, but instead empowering communities. The next move is ours. What will you do?

Here's what we need to do:

  • Demand Transparency: We need greater transparency and accountability in the Ethereum ecosystem. We need to know who is benefiting from this technology and who is being left behind.
  • Support Ethical Projects: Support projects that are genuinely trying to address social and environmental challenges. Look for projects that are focused on inclusivity, accessibility, and sustainability.
  • Advocate for Change: Advocate for changes to the Ethereum protocol that will make it more affordable and accessible for everyone. This could include things like gas fee optimization and layer-2 scaling solutions.
  • Educate Ourselves: Learn as much as we can about blockchain technology and its potential impact on society. Share our knowledge with others and help them understand the risks and opportunities.

Ethereum's $2000 surge is not just a number on a screen. It's a reflection of our values. It's a test of our commitment to building a more equitable and sustainable future. Let's make sure we're not just lining pockets, but lifting communities. The next move is ours. What will you do?