Ethereum (ETH) Price Bound to Surge Following Fast DeFi Progress: Crypto Trader

📰 News
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • 📰 News

    The second biggest cryptocurrency ETH has not been showing price gains lately, however, now it seems that ETH is about to take off, as some in the community believe

Ethereum (ETH) Price Bound to Surge Following Fast DeFi Progress: Crypto Trader
Cover image via freepik.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

As of late, Ethereum price has been in the lows but the community still hopes it is going to skyrocket this year as Ethereum 2.0 is in development and also because more progress with DeFi is visible.

More and more people are tweeting about the amount of ETH locked in with DeFi, which has been rising recently.

Besides, the ETH-based dApps are also increasing their volume, even though Tron seems to remain a more popular platform for dApps so far.

“Price will follow, I'm accumulating AF.”

Crypto trader and analyst @IamCryptoWolf has shared some data regarding the amount of ETH locked in with DeFi recently and says that it is ‘going parabolic’. He believes the ETH price is bound to surge later this year, although in the comment thread some of his followers disagree that the term ‘parabolic’ is the right one to use here.

As U.Today reported recently, the amount of ETH locked in DeFi now is over 3 mln (that is over $416 mln).

ETH 1
Image via Twitter

Must Read
Crypto Expert Mati Greenspan Criticizes Stellar (XLM), Says Its Tokenomics All Messed Up - READ MORE

The ETH-based game sees +220% volume increase

Dapp Radar reports that the Mega Crypto Polis game that runs on the Ethereum blockchain has added 220% volume over the last 24 hours. Now, the amount of funds passing through it totals $7,693.

ETH 2
Image via Twitter

Currently, 3 of the top 10 Dapp Radar applications are based on Ethereum and they are in the top four. The rest run on EOS and the largest amount is powered by Tron.

ETH dapps DappRadar
Image via DappRadar

An ETH fan @staking_gwei has also posted some charts that show the performance of Ethereum over the past two years of the bear market. The person hopes that when the bull runs for Ether starts, the price will go to the moon.

The ATH Ether has reached so far was $1,361 in January 2018. At press time, the coin is trading at $139 – about ten times lower.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Recommended articles
CLOUD MININGPromoted