The price of ETH in both USD and BTC terms has seen phenomenal gains in recent days thanks largely to the success of Decentralized Finance (DeFi). This success, which until now had not been particularly well reflected in the price of ETH, has begun to attract mainstream attention.
Latest from Nick
yearn.finance, an Ethereum application that capitalizes on a mix of different yield farming opportunities to create a single entry point for 1,000%+ returns, has just led to the greatest blockchain scare of 2020.
In a Reddit “ask me anything”, ETH 2 researcher, Justin Drake, cast doubt over whether Ethereum’s highly anticipated Phase 0 can realistically launch this year.
The Ethereum network is under heavy strain. A combination of increased stablecoin usage, yield farming and a resurgence of ponzi schemes have pushed Ethereum’s capacity to the absolute limit.
Tomorrow marks 900 days since Ether traded at its all time high of $1385.02. Today the cryptocurrency rests 80% down from this high, occasionally showing faint signs of life before stalling for the umpteenth time.
Hundreds of millions of dollars are funnelling into decentralized finance, bootstrapping the system with liquidity and rewarding users with fees and tokens in the process.
Tougher regulation and a healthy dose of investor skepticism has meant that Initial Coin Offerings will never again drive the buying frenzy that was seen in 2017/18. But that doesn’t mean something else won’t take it place.
Decentralized Finance crosses $1 billion for the second time, but on this occasion it has less to do with ETH.
After DAI suffered an enormous setback in March when its price traded as much as 8% away from its US Dollar peg, the stablecoin looks set to make a full recovery.
Fundamental usage metrics are approaching and surpassing all time highs, but the price of ETH has stalled.