The price of ETH breaks through $1,000, the bull market of ETH is on the way

in LeoFinance2 months ago

New Year's Day provides the market with a great celebration. BTC rose to US $ 34,000 and ETH rose to US $ 1,000, strong bullish market sense.

BTC is continuously hitting new historical highs, and ETH is still more than $ 400 shorter than historical high of $ 1422. It is estimated that a breakout is ahead.

http://www.tradingview.com/v/qLTo10FT/

How high will ETH reach in the future? Many people predict that the market value of ETH will exceed BTC. What do you think?

1. DeFi ETH

ETH is still that ETH, it is still very solid, but the lockdown volume of DeFi has increased, and is now 27 billion US dollars.

The lockout fund at DeFi has increased 27-fold in 2020. So how much will it increase in 2021? It is something to look forward to.

DeFi relies on the ecology of ETH. In spite of increasing ETH and GAS bottlenecks, the DeFi ETH ecosystem has stronger original vitality and capabilities. Even imitation disks and vitality are things that no other public chain can match.

Of course, DeFi on other public networks also has lots of opportunities to make money because the market needs hype.

2. GAS costs for ETH are expensive but already used

GAS rates at ETH are not cheap. Now that the price of ETH has gone up, the cost of GAS is even higher. The DeFi operation which is hundreds of RMB is enough to eat Haidilao dishes.

The operating costs at ETH are very high, and all of them are very expensive. Why do so many cheap public networks have to play DeFi on ETH?

Here are your thoughts on the "8 signs that ETH has entered a bull market?" "" on this issue.

1) ETH chain user base: daily active addresses are reversed, block space demand has reached new heights, and network costs are leading the public chain; (Shenzhen's population is increasing, land demand is high, and land is expensive)
2) Assets carried by ETH: Carry USD 16 billion in stable currency assets and absorb 150,000 BTC; (Shenzhen is a young city with an average age of 32 years)
3) The biggest DeFi app on ETH: DeFi users will increase 10-fold by 2020, and the locked funds will reach 27 billion US dollars. Among them, DEX is directly compatible with CEX. (Shenzhen has developed Internet technology, and even the United States is suppressing technology companies in Nanshan District, Shenzhen from time to time)

3. Algorithmic stable currency, hot spot on DeFi

The most popular DeFi on ETH recently is an algorithmically stable currency, from AMPL to ESD to Base, accompanied by a series of knockoffs, the market is very restless, and the funds are very active.

Regarding algorithmic stablecoins, the public account "Xiaozha Chat" also writes a lot.

Many people ask me what algorithmic stablecoins are. Algorithmic stablecoins at this stage are just a capital plate and a capital game. Only when the market value of algorithmic stablecoins grows to an order of magnitude does qualitative change occur. It's like BTC. The bigger the BTC, the stronger the consensus.

Algorithmic stablecoins are a big route. Stablecoins were originally toys from large institutions. Now that algorithmic stablecoins have been released, retail investors have the opportunity to surprise institutions.

The bottom-up transformation of algorithmic stablecoins is certainly not easy. Naturally, stories of life counterattack and bloodshed were indispensable, and the process was extraordinary and the battles were fierce.

Participating in algorithmic stablecoins requires caution, and opportunity and sickle coexist.

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I think eth will touch 2000$ in 2021's end