Ethereum сo-founder Vitalik Buterin predicted the stabilization of cryptocurrency prices amids the sharp fall of ETH to $200.

Unbelievable yields, which attracted speculators to the cryptocurrency market, remained in the past, Vitalik Buterin believes. Speaking with Bloomberg at a blockchain conference in Hong Kong, Buterin said that the cryptocurrency market moved to a new stage of development, which requires real scenarios of implementation of the blockchain technology, rather than speculations of novice investors looking for quick profits.

“The blockchain space is getting to the point where there’s a ceiling in sight,” Buterin said in a Sept. 8 interview with Bloomberg at the Ethereum Industry Summit conference in Hong Kong. “If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”

He added that the marketing strategy, commonly used by blockchain projects, is “getting close to hitting a dead end.” Now it is necessary to involve people who have already shown interest in cryptocurrencies, in closer cooperation with projects.

“Go from just people being interested to real applications of real economic activity,” he said.

Meanwhile, Ether has fallen more than 85% since January 2018. On Sunday, the price of ETH fell below $200, returning to the levels of July 2017. As of 10 September, ETH is traded at $196, and its capitalization is slightly higher than $20 billion.