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Crypto prices may be down, but the mood inside ETH Denver on opening day is up.
Despite the cold, a line formed outside the new venue, the National Western Center, well before doors opened.
For ETH Denver founder John Paller, the event reflects a year’s worth of work that began immediately after last year’s event.
“A lot of people think this is the beginning, but for our team, we actually didn’t stop from last year,” he told Decrypt, describing the first day as “the crescendo.”
While the cryptocurrency market downturn has dominated headlines, Paller said ETH Denver thrives during downturns.
“ETH Denver has always benefited from bear markets,” Paller said, noting that sponsors narrow their event budgets and concentrate spending.
Paller did, however, acknowledge that attendance is expected to fall short of peak years.
“Instead of 25,000, there’s only going to be 10,000 or 8,000 people or something,” he said, but added that compared to earlier editions, the event has continued to expand. “From 2020 we were at 2,500, so it’s still grown, the core nucleus, and the signal has grown.”
“The noise to signal ratio is going to be much better,” he said. “Just a lot less noise, a lot higher signal. The people who are here are serious, and they care deeply about the future of web three and the user owned Internet.”
Russell Castagnaro, founder of Unicorn.eth, said the change in the vibe is noticeable.
“There are a lot more people who are seriously interested,” Castagnaro told Decrypt. “It got so big over the last two years that everyone just had to be there. Now, when they come, they really want to get ROI for themselves. They want to make sure they’re meeting people, building, and getting exposed to all the new technologies. It’s a lot more back to its roots in many ways, but in an evolved state.”
For some first-time attendees like Tyler Gentry, founder of fintech consultancy firm NEED-AID, the appeal of coming to ETH Denver lies in observing how decentralized communities operate.
“I came to ETH Denver to see how a DAO cooperative community comes together in real time and to explore how NEED-AID can use that blueprint to democratize giving for nonprofits and unlock the next generation of donors,” he said.
But the vibe around ETH Denver isn’t all about the latest trends in AI or crypto markets. In the Zen Zone, located near the entrance, centers on art and mental wellness before panels and networking begin.
“The vibes are what kept me coming back,” Shana Douglas, co-founder of blockchain education and outreach project NFT CLT, said. “I've been here since four or five years when we're at the castle and it was super intimate. So this isn't as intimate as that, but it's definitely setting the tone for a strong builder community and making sure we're all vibing nicely.”
NFT CLT co-founder Tony Bravado, said this year’s ETH Denver feels “more intimate.”
“In order for us to build community, we’ve got to have tight knit places where people can gather, where people can share other ideas, as well as people can grow wellness,” he said. “You have AI, you have wellness, all together, and it just feels good to be here.”
While prices remain well below prior highs, ETFs shed millions, and sentiment on Crypto Twitter has turned decidedly bearish, the attendees of ETH Denver, while a smaller gathering than in years past, appear focused on building not only new technologies but a stronger community going into 2026.
