Will DeFi help ethereum reach it's old 4 figure value?

[jrrsparkles]

Ethereum is growing popularity has largely been attributed to the rising interest in DeFi projects, what's going on? Will ethereum finally be able to leave it's 3 figure value?

The number of daily addresses interacting with ETH has surge in the past 24 hours to a Two Years single day high of 486,000 addresses! The last time Ethereum's address activity was this high was on May 5th, 2018

I don't think the current rally in ethereum price happens due to DeFi hype, it is happening after the long wait and also due to ethereum 2.0 so people are much interested in acquiring the ethereum over the ethereum blockchain based project.Maybe at the end of this year we could see the four digit value if the bitcoin current rally turns into bullish trend.

[@baoli]

No doubt Defi regime is helping the growth of ETH as the coin market grows and people put in money more money for transactions some part goes into ETH. After BTC ETH I think is another gateway for money to get into crypto.

[Phoenix_PROG]

DeFi projects is helping Ethereum presently and I believe that things will get even better with the proof of staking that's near release soon, 1000$ is not impossible for ethereum but still Bitcoin needs to continue it's pump for this to happen

[cryptoperkele]

It's just a buzz word, and could be done in several blockchains. Eth2.0 how ever would do the trick. But Eth is now just too expensive to use and i see pretty pointless to operate any businesses in an open blockchain.

[Akoldi_ibk]

DeFi hype is simply giving ETH the needed exposure and has not singlehandedly be an instrumental to the rise in price. Rather it is contributing to network congestion and high transaction fees. The game changer at hand will be the coming network upgrade, eth 2.0. This I believe will compliment the massive exposure provided by DeFi.

[Shasha80]

Of course DeFi projects have an influence on the price increase of Ethereum, because DeFi projects that are popular nowadays
are mostly using the Ethereum blockchain network. So it will trigger an increase in the price of Ethereum, even the increase
in the price of Ethereum is beyond my estimation. Now that the Ethereum price is at $ 395, this is a very good achievement.
Although I agree that the Ethereum price increase is doesn't depend on DeFi projects only, there are several other things that
make up the Ethereum pump.

[Shallow]

Ethereum growing popularity being attributed to Defi projects? I do not agree, whatever happened to the forthcoming Ethereum 2.0, isn't that enough to lead to more popularity? However, I do not think the price of Ethereum depends on DeFi projects because the Ethereum blockchain has been a solid blockchain for years. Also, with Bitcoin price growing as well, can that be attributed to Defi projects? I do not think so, thus confirming my stand that every coins price will grow once people finds it attractive. And lastly, not all Defi projects are based on Ethereum, some are based on different blockchain like Tron.

[ttcsalam]

Etherium has always led the market as the top 2 coin.Etherium is rising in price due to updating their network system.I think if their 2.0 system is successful it will go $1000.Defy doesn't seem to have anything to do with it.Defy usually works for Tron Wallet.

[flagpara]

I think over 500$ is the reasonable price for ETH in this year. To reach a price above $ 1,000 as early as 2018 is very difficult now that there is no trend to increase the price of ETH like ICOs at that time. DeFi is just a recent emerging trend, but I feel like it has not attracted new inflow to enter the market yet.

Only hype helped the price to pump 410, confirm news could change the cryptocurrency again. History says, the Ethereum price deserves 800 USD before the end of this year. Another big pump we could see before March next year. But the future is always different, "Decentralized finance" could gain huge support.

[slashz9]

Ethereum price doesn't depend on DeFi. Recent price pump is due to Ethereum Testnet 2.0 which is coming soon. I hope Ethereum will touch four figure $1000 soon if this trend will stay continue. If testnet 2.0 will success, surely Ethereum price go up more. The exact date can't be told.

I also agree, the eth increase is caused by this new testnet, and not caused by defi, we know that the coin with the biggest market cap project defi is on the ETH platform but I don't think it has any impact on the increase in ETH.

[Drahzar]

i believe in eth, because of defi projects lauched in 2019-2020, so i predict continiously growing for eth.

[zasad@]

In practice, it is very easy to check why the price of a coin is growing. You can visit these services and see the cost of gas:
https://ethgasstation.info/index.php
https://etherscan.io/gastracker

If the price of gas is 50-100 gwei, then in defi projects are not very active.
When defi projects are active, the gas price is 400-700 gwei.
This suggests that the price is now rising due to demand for the asset or speculation.

Active projects and commissions.
https://cryptofees.info/

It is enough to visit 2 sites to understand what is happening in the Ethereum ecosystem

[Drahzar]

i believe in eth, because of defi projects lauched in 2019-2020, so i predict continiously growing for eth.

agree with you and truly to say i search and invest into some of credible defi projects, especially dex-s based on ethereum blockchain

btw i just found interesting stablecoin dex - xsigma, credible business model and they are backed by a public company

[Jating]

For the record, ETH has already surpasses it's previous all time high. So obviously we are nw in the old 4 figure although some incoming dumps because people are taking their profits after a long time. And I would say that Defi might have help it to reach 4 figure again.

But the big question is the high transaction fee, currently, ETH gas fee is even higher than bitcoin. The next iteration of ETH should include solutions to the scale it otherwise investors might look for other coins to invest. For the majority of average traders and investors, high fee doesn't look too attractive to us. Just imagine transferring around $100-$200 worth of ETH and the fees is more than that.

[jostorres]

Ethereum is growing popularity has largely been attributed to the rising interest in DeFi projects, what's going on? Will ethereum finally be able to leave it's 3 figure value?

The number of daily addresses interacting with ETH has surge in the past 24 hours to a Two Years single day high of 486,000 addresses! The last time Ethereum's address activity was this high was on May 5th, 2018

I was seeing a lot of analysis and predictions that were pointing towards 5k USD and above because of this defi trend. But from what I have seen, Defi cannot determine the price of Ethereum. I expected more increase for ETH this year as Bitcoin was surging, Ethereum didn’t do that, and most of the predictions were totally wrong, it couldn’t even get pass it’s last ATH price, though some people have talking about ALTCOIN season, I don’t know if there is going to be anything like that, the Ethereum I know goes hand in hand with Bitcoin most of the times, just a slight difference between their charts.

[coin-investor]

Ethereum is growing popularity has largely been attributed to the rising interest in DeFi projects, what's going on? Will ethereum finally be able to leave it's 3 figure value?

The number of daily addresses interacting with ETH has surge in the past 24 hours to a Two Years single day high of 486,000 addresses! The last time Ethereum's address activity was this high was on May 5th, 2018

There's a big possibility it will, DeFi plays a major factor in why Ethereum is one of the most talked about tokens in the community it's a concept that begets a lot of project,s and all of this because of DeFi, and the high transaction fee is also one of the reasons why Ethereum is getting a lot of users, it's on an all-time high in terms of transactions.

[zasad@]

The last time in the DEFI sector there has been complete calm. Commissions have decreased, the leaders of decentralized trading are 1 inch, uniswap, SushiSwap, Ren Protocol, Balancer.
The rest of the pump is more like the work of market makers than the real demand for tokens of various projects.
Therefore, not all def tokens go up in price.

[lumierre]

Only Bitcoin has the answer to whatever will happen to every altcoins including DeFi projects too, put aside eth 2.0 POS feature, that's not powerful enough to drive eth price to 1000$

DEFI will have a positive impact on Ethereum anyway. Will help solve the problem with scaling, overload. Ethereum is a strong coin, very popular, and in a duet with DEFI its path to the top will be easier. Of course, both Defi and Ethereum have a number of shortcomings, but they are all solvable in the future.