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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Only In Crypto: A Strudel Pays Rent With THE Protocol Profits

Reynaldo Marquez
Reynaldo Marquez
2 years ago
3 mins read
THE Protocol Vitalik Buterin

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Everyone is talking about THE Protocol in crypto as the project gains momentum. Created as a meme coin, THE has continued to make all-time highs against the ETH and USDT pairs. 

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In just 24 hours, THE Protocol trades at a 60% profit against Ethereum when large cryptocurrencies are beginning to show positive performance. Across social media, THE Protocol is following the price, with many users speculating on its potential to resurrect the “meme coin movement.” 

The Protocol THE THEWETH THEUSDT
THE’s price is rallying on the 1-hour chart. Source: THEWETH Tradingview

THE Protocol Origins, Why Is This Coin Rallying?

The crypto community created this project in response to Vitalik Buterin, the inventor of Ethereum. Buterin joked about launching it to make “shills” more effective. 

Via Twitter, Vitalik Buterin posted the following message: 

Someone should make a project called “THE Protocol”, so that their shills can say “Look, soandso mentioned THE!” pretty much any time anyone says anything.

— vitalik.eth (@VitalikButerin) October 14, 2022 

The Tweet got hundreds of responses. THE Protocol was created after, indirectly supported by Buterin. In a few days, the cryptocurrency was trending in Uniswap (UNI) and other Ethereum-based decentralized exchanges. Quickly, THE Protocol has begun winning support from the crypto community. 

Users still remember 2021 when Dogecoin (DOGE), Shiba Inu (SHIB), and other meme coins took over the crypto top ten. At that time, early investors were able to turn a few hundred dollars into thousands. 

Since then, Bitcoin and the crypto market have lost around 75% of their value. Now, THE Protocol appears with the promise of bringing back some of the lusters from the 2021 bull run. 

THE holders have been swimming against the tide, scoring profits while Bitcoin and Ethereum trend sideways with no clear direction. 

Vitalik Buterin Takes Blame For THE

Across social media, crypto investors have been sharing their profits with THE Protocol spreading the word about potential future gains. 

$THE PROTOCOL JUST PAID MY RENT https://t.co/NGPGPBKPId

— strudel (@StrudelEth) October 18, 2022 

Other prominent crypto personalities have been sharing THE on their social media platforms. These investors are lobbying to get THE listed on large exchange platforms. 

If they succeed, THE Protocol might experience another SHIB-like or DOGE-like rally. A pseudonym user argued the following about THE’s potential to extend its bullish momentum: 

Elon mentioned $FLOKI which sent it to $3.5B and $DOGE to $40B> $THE is at 20M right now with Vitalik Buterin (Ethereum founder) engaging with $THE tweets. This play is a no brainer and could run into billions mcap.

$THE > $SHIB

I wouldn’t be surprised it $THE goes on a $SHIB type of run. Faster than SHIB ever did.

— JasonCryptoApe  (@JasonCryptoFTW) October 18, 2022 

In the meantime, Vitalik Buterin acknowledged THE recent popularity. On his Twitter account, the inventor of Ethereum shared images about the token, saying: “ok what have I done.” 

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In time, investors will see if THE becomes a DOGE competitor or if the bear market forces it out of existence, pushing its market capitalization to zero. In crypto, this is an everyday occurrence. 

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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