After Ethereum broke the record in the past 24 hours, some commentators think that Ether could quickly break the $ 1,400 band.
The strong fundamentals of the Ethereum blockchain network reinforce the notion that Ether can easily cross resistance in the middle of the $ 1,400 band. Many people think that Ethereum’s growing DeFi ecosystem will support Ether in price discovery.
Ethereum Price Index: How many TL (ETH TL) for Ether?
Spencer Noon of the crypto venture fund Variant thinks a parabolic bull market on Jan.19 is imminent. Shared 11 indicators. Noon, in the past eight months More than 1 million drew attention to the address interacting with DeFi.
Noon, monthly DEX volume is currently the highest level of all That over $ 30 billion and added that more than $ 20 billion has been invested in DeFi loan protocols.
Beyond DeF, Noon said that Ethereum is the largest blockchain network in terms of daily transaction fees and Bitcoin He said he left behind 50 percent. On the other hand, the number of daily active Ether addresses has doubled in the past 12 months. Reached 550 thousand and in the same time almost Worth $ 20 billion stablecoin was created on the Ethereum blockchain network.
Noon in his posts More than $ 25 billion He stated that it is currently locked in the DeFi sector and that 21 decentralized finance protocols contain at least $ 100 million in locked value.
#1: Ethereum continues to dwarf the entire crypto space in terms of fees paid ($7.25m daily avg) — proving it’s the most useful network in the world. pic.twitter.com/t7Co50GukJ
— Spencer Noon (@spencernoon) January 19, 2021
On the other hand, Noon said that the number of Ether transactions greater than $ 100k compared to January 2018 seven times less and that this “shows that institutional investors are still out of the market”.