Cryptocurrency

Ethereum Boom in sight? – DeFi and Maker of 2019 on the rise

2017 was now “the year” of the crypto-currencies. As reason is today considered, among other things, the ICO Hype that was 3 years ago came up and “the new thing” in the Crypto-market. After the Crypto-Winter of 2018, a lot of what “will be the next big thing” and maybe a Crypto-Boom a la 2017 triggers, as well as Ethereum back in new heights, driving questions now. The answer to this question, many see in the Trend of “Decentralized Finance”, briefly Defined, the decentralized financial applications developed and centralized financial and banking structures superfluous would like to make. And exactly this area is located since 2019 in an enormous growth phase. Since many of these projects run on the Ethereum Blockchain, such as the ICOs of 2017, this development is also very positive for Ethereum.

DeFi growth on the Ethereum Blockchain

The increasing skepticism of the Central financial system that was already in place for the emergence of Bitcoin on the model of real Gold responsible for a new Trend: DeFi. As Bitcoin is the national Fiat money obsolete could make, has DeFi send the Potential of banks to Nirvana.Many of today’s DeFi projects are up and running, as above alluded to, on the Ethereum Blockchain and create a new Use Case for the second largest crypto-currency. We take this as an example to DAI. So Dai is a Dollar-linked Stablecoin of the “Maker Decentralized Autonomous Organization”, which is a simplified deposited said with Ethereum.With the increasing growth of DeFi, the amount of Ethereum, which is bound in the System increases. So that means that is a record high for Dai for the ETH positive. According to the data of the “defipulse.com” stuck currently 650 million US dollars in DeFi projects.Play now for free the world’s leading Social Trading network. Copy on eToro’s most successful traders and benefit from their Expertise or trade a variety of Assets such as crypto-currencies, commodities, and stocks. Create a free Demo account with$ 100,000 and see for yourself!In addition, a record amount of Ethereum (about 2.42 million ETH) is currently Defined applications. The page also reported that Dai to the value of 30 million dollars are stored in a DeFi, accounting for almost a third of his offer, after he has reached the milestone of $ 100 million.

When is the ETH course in swing?

The growth Figures of the Decentralized Finance is clear. Experts believe that this Trend is set to continue. If this Trend continues, could this be the medium to long term a very positive effect on Ethereum impact, there is a clear use case for the network is created.With the coming Updates to increase the scalability, has the ETH is still a whole lot of work ahead of you. However, it should all work as planned, it could trigger a new Hype around Ethereum, which could drive up the ETH course together with the DeFi Trend to new heights. Many experts see Bitcoin, maybe as a Store of Value, but Ethereum is developing, apparently, to the future, the application of Finance.

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.