DeFi Craze: Could ETH be seen positive reaction in coming days?

[kingzpro]

We always heard about this Defi thing, and many believed the market has been overly hype, while some believed that it really did worked. To proved that DeFi right now is trending, take a simple search and type #DeFi.

Moreover, ethereum coin is considered to be the main coin in which you could join this defi craze. Cause they are ERC-20 based coins.

This thing will give us the idea that with this DeFi dominance, ETH should be seen quite significant price increased. However, as of this time of writing, it only resembles the price of BTC as per price action (correlated price to BTC). I was thinking that with this increased of DeFi trend, Eth will react in behalf.

Well, what do you think, fellow traders?

I think it will be a mix of defi, dapp and smart contract culture that will be the obvious reason for next eth parabolic run because everyday more and more money is flowing into this sector and most part of that money is in the form of eth and luckily pandemic and global economic situation has accelerated the trend of defi because people are looking for better alternatives to traditional finance now and they seem to have found it in the form of DeFi projects, now it seems like we can enter into new bull phase of eth anytime from here on.

[Maxstl007]

DeFi projects are doing just fine, though if I have to choose a new DeFi project it won't be just for the decentralized finance use case only, it's like something more like lending and smart contracting combined, we need to be careful too, scammers will start laying traps with their own version of DeFi projects

[kindbtc]

We always heard about this Defi thing, and many believed the market has been overly hype, while some believed that it really did worked. To proved that DeFi right now is trending, take a simple search and type #DeFi.

Moreover, ethereum coin is considered to be the main coin in which you could join this defi craze. Cause they are ERC-20 based coins.

This thing will give us the idea that with this DeFi dominance, ETH should be seen quite significant price increased. However, as of this time of writing, it only resembles the price of BTC as per price action (correlated price to BTC). I was thinking that with this increased of DeFi trend, Eth will react in behalf.

Well, what do you think, fellow traders?

DeFi is definitely something big and exciting building around mainly Ethereum network for now so it can be the push that eth needs this time around to make its definite moon move. Other than that eth is nicely placed even if you see charts and coming months will be bullish.

[Mulann2]

Before when it was ico period, it was said that most ico projects usually dumps their ico funds which is normally eth and that is why price of eth was not growing as fast as bch back then, now the new trend is Defi and although I am not familiar with the way Defi operates but since this is also ecr20 base projects, could it be that it will also have the same impact on eth price as the way ico does in the past? Am curious to know.

[michellee]

If DeFi can beat Bitcoin marketcap combine then maybe, just maybe, ethereum can actually surge or pump in value because of DeFi projects, for now I don't see that happening, I think things can take a good turn for ethereum only if Bitcoin bullrun begins

It still hard to beat bitcoin, but that doesn't mean it is impossible. Maybe we still need to wait because all of the projects are waiting for bitcoin price moves, and if somehow, bitcoin price is not move higher like a few weeks ago, the project will not rise too higher. Or the next scenario, bitcoin will still like this, and it is a good chance for the project to lift its price and invite more investors to their project.

All other coins are relying on Bitcoin not because Bitcoin is better but because Bitcoin has the highest marketcap, volume and liquidity, if another coin took over then other coins will relent on the new crypto king, to say the truth it won't be easy for a new project to beat Bitcoin, not impossible but won't be easy

But so far, bitcoin still stronger than the other coin, and that makes bitcoin still at the top position in the crypto market. The new project needs to have more to beat bitcoin, which will be different than what bitcoin offer to the user. Maybe the new project needs to search for another idea that will make the new project can compete with the other project before the project can survive in the crypto market.

[leea-1334]

Well, for sure I will be happy if ETH goes higher because of demand and this DeFi thing is the one that seems to push it but I always wonder really about the real value. Because if you notice there is no real product here except interest and interest all for staking and keeping assets. Eventually you have to realize,,, it is interest based like fiat with nothing driving the economy. Right?

[Drahzar]

i have a positive forecast for eth price, because using eth blockchain for defo projects is not about reputation - it's about amount of transactions so the price should be slowly growing. and besides, if we are talking about dex exchanges (they are hyping now) - most of them based on eth and use it in their tokens

[fat_jet_dude]

i have a positive forecast for eth price, because using eth blockchain for defo projects is not about reputation - it's about amount of transactions so the price should be slowly growing. and besides, if we are talking about dex exchanges (they are hyping now) - most of them based on eth and use it in their tokens

yeah agree, most of technically interesting and valued exchanges are based on eth, and use huge amount of gas. (okey i can clearly tell about Curve exchange)

[leea-1334]

I did not realize defi total locked value has gone up to a new record,,, but is that news all sort of logical since BTC and ETH made new ATHs anyway?

What are the stats in actual units of BTC and ETH locked, have they also gone up because that to me will be the real indicator of whether investors trust defi more.

[TheGreatPython]

I can’t really say anything about defi craze but what I think is that Ethereum stopped at that price of $1500 because Bitcoin has stopped increasing and also dropped after reaching over $41k. Bitcoin has been around 32,000 USD and we can’t say where it will be heading next, whether there would be a bear or it’s going for another bull run, but it seems to me we have reached the ATH for this moment , and that’s same with ETH which strongly correlates with BTC, unless the ALTCOIN season change everything. If not, then we should be looking forward to other altcoins increasing in price without ETH. I guess coming weeks are too tricky as entire crypto market is fully tied with bitcoin markets and the direction of market may vary with respect to fluctuations of bitcoin markets.

[el kaka22]

This topic was created during July 7th, it is not a new topic not here but not in discussions as well. Ethereum saw some defi craze and after July 7th the price of ethereum went up more than double even triple of what it was because there was a lot of projects that wanted to be part of ethereum blockchain. Nowadays there is not much to say about this situation because we have already seen what happened and this is in the past.

If anyone asks if it could happen again, I would say it could go up but not the way it has gone up from this topics creation to today, that type of 4x or so increase would make ethereum over 5k in price, I doubt that it would happen anytime soon. Don't get me wrong I think ethereum will be 5k+ one day, it could be next year or 5 years from now but it will definitely happen, I just do not believe that could be so close to a huge increase once again.

[Drahzar]

i have a positive forecast for eth price, because using eth blockchain for defo projects is not about reputation - it's about amount of transactions so the price should be slowly growing. and besides, if we are talking about dex exchanges (they are hyping now) - most of them based on eth and use it in their tokens

yeah agree, most of technically interesting and valued exchanges are based on eth, and use huge amount of gas. (okey i can clearly tell about Curve exchange)

btw there r a lot of interesting concepts and projects - i saw good one stablecoin dex xsigma, reseaching them now