Altcoins News
By Steven Anderson
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How Could Possible ETH Hit $1 Trillion?
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The Correlation Between ETH’s Price and DeFi Products Growth
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Analysts say that Ethereum (ETH) is poised to become the first cryptocurrency asset surpassing the $1 trillion dollar market valuation.
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Despite the not so good market performance the previous year, ETH remains to be among the best performing crypto asset, which rallied to $160 as of today.
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Ethereum might be performing well these days, and many investors expect that it will surge higher. In fact, analysts predict that the value of ETH will reach $1 trillion levels.
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Meanwhile, it was reported that DeFi successfully soared to its all-time high, making it reached the $800M mark in total value locked in US Dollars.
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If you’ll remember, ETH hosts DeFi apps. So, based on the current market performance of DeFi products, many hope that it will drive the crypto to break the $1 trillion dollar mark.
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While the second-largest crypto asset is set to target the global market, it can possibly hit the $1 trillion US Dollar market capitalization.
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The possibility of hitting the for-market capitalization lies to DeFi. It refers to the decentralized platforms or applications, allowing investors to use traditional financial…
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Lucas Campbell of DeFi Rate laid out a case intended for the 13-digit Ethereum market capitalization.
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So far, the protocols of DeFi are consuming the second-largest 3% of the total economic bandwidth of ETH.
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The DeFi product growth has a direct connection with the ETH’s price. As mentioned above, there’s an existing massive network of traditional finance money that has potential…
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In the case that a stable coin that is collateralized using Ethereum and other economic bandwidths on the Ethereum network breaks the $1B market capitalization this year, then…
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