In the past week, the alternative cryptocurrency (altcoin) market has further slumped against Bitcoin. Since achieving a peak in early September, decentralized finance (DeFi) tokens alongside Ethereum have shown a lackluster performance.Read more
Ethereum’s decentralized finance (DeFi) space has seen exponential growth over the past few months.
Nothing shows this as well as the total value locked in DeFi contracts, which has risen from around $500 million at the start of the year to $11.5 billion at the local highs.
Top Ethereum whales are increasingly moving their funds off exchanges, on-chain data show. It demonstrates the confidence of high-net-worth investors in the medium-term trend of ETH.
In the past two months, tokens on exchanges dropped by 20.5%, as exchange outflows substantially increased.
Ethereum has long been the leading smart contract blockchain after its launch in 2015. It has faced contenders in Cardano, Stellar, and many other blockchains, but as of now, they have yet to make a serious dent into ETH’s market share.
This may be changing, though.
Decentralized finance (DeFi) has seen parabolic growth since the start of 2020, with the total value locked in these contracts, largely based on Ethereum, rising from $1 billion to $12 billion now.
Crucial to this growth has been decentralized exchanges (dexs).
Ethereum users have faced extreme transaction fees over recent weeks and months. At one point, there were users paying $10-20 just to send ETH and ERC-20 tokens from address to address as the cost of gas spiked to 1,000 Gwei and beyond temporarily.Read more
Ethereum has been one of the best-performing crypto-assets of the year, lifting off after a brutal bear market throughout 2018 and 2019 that brought it down by over 90 percent from its all-time high.Read more
The Ethereum network has been placed under immense strain in recent months, with the ongoing DeFi trend driving massive demand to the network as traders begin utilizing decentralized exchanges and providing liquidity to various protocols.Read more
There are many segments of the crypto industry that do not respect the decentralized finance (DeFi) ecosystem of Ethereum.Read more
Ethereum transaction fees have dropped dramatically since the summer highs when gas cost upwards of 1,000 Gwei. According to GasNow, the average Ethereum user is paying approximately 40 Gwei for a transaction — over 96 percent below the recent highs.Read more