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Ethereum’s (ETH) DeFi Dominance in Danger?

As it is known, the leading altcoin Ethereum became the most used network with the increase in DeFi activities. 

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Ethereum’s (ETH) DeFi Dominance in Danger?

As it is known, the leading altcoin Ethereum became the most used network with the increase in DeFi activities. However, according to Finder’s Cryptocurrency Predictions Report, this could only be a temporary increase.According to the Finder report, the number of locked-in value and users of DeFi apps will steadily increase over the next 12 months. But few in Finder think DeFi will continue with Ethereum .

So what will be the alternative if Ethereum doesn’t master the ecosystem? There may be a situation where DeFi is moving to a model where it runs on more than one blockchain ; According to the report, while the popular and widely used DeFi ecosystem will continue; Some of the panelist views in the report also expect to see a model with the DeFi ecosystem.Dr. Iwa Salami believes there will be several popular and widespread ecosystems in this sense, but notes that Ethereum may not be entirely out of the field.

“I think there will be several DeFi ecosystems in common use – probably Ethereum will still dominate. It could be the development of interoperability and interactions between DeFi ecosystems, and possibly the transition of assets between DeFi ecosystems.

Ethereum Price

On average, ETH in Finder is estimated to reach $ 513 by the end of the year. The report says that this price increase is dependent on how long Ethereum could benefit from the DeFi boom and the expected interest after the ETH 2.0 launch.Anatha.io’s CEO and co-founder, Edward Hickman, also gives a price forecast in the $ 400-600 range. However, unlike those who link ETH price predictions to DeFi and ETH 2.0, Hickman believes ETH should thank Bitcoin for this.

“ETH tends to follow the same stock flow pattern as Bitcoin, as a healthy portion of its volume is still realized through ETH / BTC trading pairs. This means that the BTC price action also greatly affects ETH. As long as BTC is still stable in the market, we should see industry-wide price action following the general trend of BTC, ”he says.

3 Comments
  1. […] OKEx says they haven’t been able to contact this private key holder since they started collaborating with the authorities, which means the exchange is currently unable to sign withdrawals. While withdrawals are disabled, OKEx claims that the rest “functions remain normal and stable and the security of assets in OKEx will not be affected.” Finally, the following expressions were used in the statement: […]

  2. […] Ethereum is trading at the current $ 369 price level. This is the price level at which it has been trading for the past few days. The recent decline was in the form of a slow decline, although it has moved to a lower level since moving the base above $ 380.This allowed Bitcoin to outperform it and this trend may continue until the transaction volume rises. […]

  3. […] been incredible increases in Ethereum transaction fees due to DeFi ( decentralized finance ) projects that have grown and become […]

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