Started by PocketOption, Oct 12, 2022, 08:32 pm
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Since it was the first cryptocurrency to establish support for decentralized applications, Ethereum (ETH) is widely considered the industry’s pioneer in decentralized finance (DeFi) (dApps).
Ethereum competes in the DeFi sector regarding total value locked (TVL). It accounts for 58% of the entire sector’s $31.142B value. BNB Smart Chain (BSC) is third with $5.38B and 10.01 percent of the total value. Moreover, Tron (TRX) is in the second position with 10.39% and $5.59B.
It’s also important to note that, with 576, Ethereum has the most protocols, followed by BSC (482), Polygon (MATIC), with 319, and TRON, which has ten protocols, ranks tenth overall. If trends from 2016 to 2017 are any indicator, Ethereum could be in for one of the largest bull markets in the cryptocurrency sector.
Today, a small group of very selective venture capitalists decides who receives funding and who does not in the founder fundraising process. Additionally, it often takes founders ten years or longer for their business to “go public” and start trading on a liquid exchange. However, this may soon change as blockchains like DeSo make it possible for entrepreneurs to instantly raise capital from millions of Bitcoin, Ethereum, and Solana users. Like most crypto, Ethereum has been consolidating as investors stay away from risky investments and central banks worldwide keep raising interest rates to tame inflation.
The analyst believes that it is doubtful that Ethereum will break through the $2000 psychological threshold shortly, leading to one of the biggest bull runs in cryptocurrency history. This is because the whole crypto market is still in decline. Since Ether’s volatility has greatly dropped, a large price increase is possible if the market separates from the stock market.
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