📈ETH DeFi & Price Correlation❓What's the ETH price to hit in 2020📈

[Apple Janice]

👨‍🎓According to data from http://dapp.com, ETH price has a very close correlation with DeFi performance. When DeFi reached its peak in 2019, ETH price reached its highest price as well.

Correlation graph here: https://twitter.com/dapp_com/status/1231856818965495809

We can see from data from http://dapp.com that in 2020, the Daily Volume of DeFi (erc20 excluded) has 📈increased from $3.5M in Jan to $17M in Feb recently. Meanwhile, $ETH reached its highest price at $280 in Feb.[/color]🤩

Data here: https://www.dapp.com/market?utm_source=bt

Do you think ETH price will exceed $300 this year? What price are you expecting?

[mahilchii]

ETH is showing some positive signs from couple of days and I think it's still depends on the BTC halving, if the price of BTC goes to the moon by the end of the year I am sure ETH will atleast reach $500. According to the price movement on defi I believe there will be some descent pump in ETH.

[sunsilk]

Do you think ETH price will exceed $300 this year? What price are you expecting?

It can. This year is still has a long way to go so definitely those numbers can be reached at the end of this year. I'm not guaranteeing it but I believe that it can base on the market's condition now that everything has recovered a bit.

I'm positive because I've seen ETH closed down to $79 last year I guess so with the condition and price that it has right now. The price that you're asking is very much possible and it's not that high to reach. A $50 increase is achievable.

[daniahya]

maybe it could reach the price of $ 300 seen from the movement now there is an increase even though the price began to decline today, we just wait for a few days the price will continue like this or there will be an upward movement

[btc_angela]

I think ETH can surpassed $300 mark easily if this is the bench price for the deli/eth relationship.

Actually we have seen that ETH almost go to $300 this month. But are there really correlations though? It's going to be interesting if we have enough prove to say there is, however, today I don't see any. Everything still boils down on BTC to be honest, if it goes to the moon, lots of Altcoins will also bounce back and could reach its previous all time highs.

[xvids]

Do you think ETH price will exceed $300 this year? What price are you expecting?

Yes I strongly believe that it could exceed $300 this year,
Even though it is dropping down right now.
I am expecting it to reach around $450 this year.
We were already near $300 this year and it is only the 2nd month of the year,
So let's see how will this go.

[Kemarit]

I think $300 is a safe price to predict that Ethereum can reach this 2020. We have seen it having a good recovery this month alone as it cruises an easy $260.

Did Defi though reaches it's peaked in 2019? I thought it just began in 2019 and started to get the attention of crypto enthusiast around. So for me it hasn't reached the top, there are still plenty of leg room to work with. So if they are correlations between the two, then definitely Ethereum can go as high as $400-$500 range this year. Assuming that everything will run smooth with their whole ETH 2.0 and Bitcoin halving with has a positive effect to altcoin markets.

[leea-1334]

I do think if ethereum price will surpass $300 rate but i will not expect a higher price than it to be achieved by ethereum this year. The sentiment of coin can be changed anytime. Maybe this time you take Defi as the main factor who has already affected the price of ethereum but in another way, bitcoin is also giving some contributions too. In my opinion, there was another reason too like people FOMOed for the upcoming update (POS).

$300 is really possible this year, why not? I mean,,, we saw 290 already and this was with no significant development at all other than Bitcoin being pumped. If we see some really good news and the ETH civil war does not end up blowing up bigger, $300 or even $400 should be possible post BTC halving.

[akhjob]

It's interesting to see that ETH price has a close correlation with DeFi performance. If thats the case, after the recent back to back flash loan attacks, DeFi has had a significant loss in the locked-up assets. The investors are currently withdrawing their funds from DeFi projects after the bZx exploits. So the DeFi performance may decline. But, I am sure that Ethereum price will surpass 300$ and will be priced around 400+$ by the end of this year.

[leea-1334]

Now if we step back for one moment only,,, and stop using terms like defi when we actually just mean crypto lending platforms (trust me, this is all defi is at the moment) then we can say that there is no correlation.

Crypto lending is not new, this defi just means it is a different way (plus not all defi is truly decentralized). End of the day it is just people loaning or lending crypto. What is that got to do with demand?