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Ethereum: Demand for ETH grows rapidly

2020.06.11 币圈资讯, 币圈资讯

After Ethereum and Smart Contracts were invented four years ago (in 2016), it still doesn’t seem clear what the best use case for smart contracts and Ethereum is. The Initial Coin Offering (ICO) boom of 2017 and 2018 helped Ethereum to its all-time high of USD 1,402 on 13 January 2018 and also created a revolutionary way for fundraising. However, the ICO boom is long over. With many fraudulent and unsuccessful ICOs, the Initial Coin Offering has also gained a bad reputation.

As the latest data from DeFi Pulse shows, decentralized finance applications could trigger a new Ethereum boom and possibly become a killer app for Ethereum. DeFi applications are decentralized financial applications (e.g. for lending) that replace the traditional financial market by creating a peer-to-peer financial ecosystem. By using smart contracts, DeFi users can lend or borrow their capital in the form of Ether (ETH) without intermediaries as collateral.

According to the DeFi Pulse research team, the use of within various Decentralized Finance (DeFi) applications is increasing significantly. As the team reports, the total number of Ether (ETH) included in DeFi applications is approaching an all-time high of 2.332 million ETH which was reached in April 2019. The current value corresponds to a total value of 551.3 million US dollars and about 2.13% of all Ether (ETH) in circulation.

作者 : Jake Simmons

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