Ethereum going up: Major growth for DeFi & Stable Coins
Crypto Enthusiasts can tell you one thing for certain. That the world is beginning to take notice of the Blockchain/Crypto movement and the legacy that Satoshi Nakamoto started in 2008 has taken off indefinitely. With Bitcoin a staple word in the conversations of many these days, we can safely assume that its no longer a niche topic for investors or tech geeks anymore. It has become a global phenomenon. Cryptocurrency has its own champion. The one with the first mover advantage. The original Bitcoin. The one that everyone is trying to replicate. And finally, the one with the highest value. But how long can it stay at the top? The one challenging for the throne and with a new technology to boot? Ethereum.
With DeFi (Decentralized Finance) becoming ever so popular and obtaining insane growth over the last few years, it is no surprise that the ones that thought of DeFi #Ethereum are rightfully so taking credit for this and are receiving benefits as well. Data coming out has shown that Ethereum has evolved into a force to be reckoned with and it will keep growing according to the current trend. According to data provided by Kissmetrics, Ethereum holds the greatest number of Stable coins at the moment which are very high in demand and also holds ERC-20 cryptocurrencies. It might be a surprise to hear that the much talked about smart contracts and DApps are also mostly built and run through Ethereum. With the whole world turning to crypto, you can rest assured that Ethereum will continue to flourish one way or the other. A new milestone was recently achieved by the Blockchain in March 2020 when the number of smart contracts nearly reached 2 million for an All Time High. This was also an increase of 75% from February 2020 which screams success for the highly rated brand. With the rising number of smart contracts and actions on the Ethereum Network, it would directly relate to more users trading in ETH which is the cryptocurrency of Ethereum. According to recent data, it has gotten very close to its all-time high transactions that it made in January 2018.
Data from CryptoRank states that the number of ETH addresses with zero balance have increased by a considerable margin in the last few months which could be a sign of greater things for Ethereum. These addresses have broken the record for most in Ethereum’s history with 42,385,447 addresses on 27 June. To clarify, that is more than 42 million. It might be because Ethereum 2.0 is about to be launched. With crypto enthusiasts and experts ready for the next wave, it might even see the value of ETH going up as more people get on the bandwagon. So, what do you think about this news? Can Ethereum overtake Bitcoin in the future? Will its value skyrocket? Is it destined for greatness? Share your opinions with us by commenting below or contact us on social media to get featured on our platform.
