Altcoins News
By Dan Saada
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Ethereum trends are looking like a game changer. The price of ETH keeps rising and the most important question doing the rounds is about how far it would go up?
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You Tuber Sheldon Evans, have been analyzing hard on: Is the case for a $10,000 ETH a valid one? Is Binance smart chain still a threat to Ethereum?
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Breaking through the $2500 level possibly promises a strong growth to the upside to around $3000. The $3,000 is a psychological level.
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There are different factors fueling this growth. There was a tweet by Spencer Moon which pointed to: 10 signs that ETH is well on its way back to $10K.
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“Ethereum dwarfs every blockchain in terms of fees paid, with a current run rate of nearly $7 billion -- confirming massive demand for $ETH block space.
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Ethereum settles $30.5 billion worth of value per day, far more than Bitcoin and every other blockchain -- to put this into context, PayPal settles ~$2.5 billion daily.
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Ethereum has 625k daily active addresses (90-day MA) -- a figure that continues to climb and now sits comfortably at ATHs.
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There is now $65 billion locked in DeFi, with 16 different projects having more than $1B TVL -- a sign that Ethereum is institutional-grade financial technology.
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Ethereum has $50B in outstanding stablecoin supply, with 500k daily unique senders and $20B in value being exchanged per day -- a sign of explosive product-market fit.
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Monthly #DEX volume stands at more than $60B, up ~60x YoY -- proving #DeFi liquidity already rivals #CeFi.
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More than 200k BTC ($11.2B) are now represented on Ethereum in various forms -- a sign that ETH is becoming an economic vacuum for all assets, including Bitcoin.
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Sales of NFTs on Ethereum have now surpassed ~$600M, with 13 pieces selling for $1M+ each -- a sign that new categories of applications are also emerging on ETH.
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Ox Polygon is currently doing ~1M daily txs and has on boarded numerous DeFi blue chip projects, including AaveAave which has >$2B in liquidity there -- disproving the…
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Finally, in less than 3 months(!), the EIP-1559 upgrade will be activated, likely resulting in hundreds of millions worth of ETH being burned each year -- this is a massive…
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