Ethereum was recently in the spotlight when a popular crypto analyst said that he expected the value of ETH to rise by more than 4,300% from its current price.
Bitcoin Macro, an important analyst, offered his forecast after he was asked by one of his followers to provide his year-end prediction for the coin.
At the moment of writing this article, ETH is trading in the green just like most coins in the crypto market, and the coin is priced above $251.
Major milestone above $1 billion
It was reported that the total value locked in the Ethereum-dominated world of DeFi reached a major milestone crossing the one-billion-dollar mark.
The online publication the Daily Hodl revealed that according to DeFi pulse, the world’s top 10 decentralized finance platforms include a list of Ethereum-based platforms – there’s one exclusion: the Lightning Network.
Maker, an Ethereum-based lending platform
Compound, an Ethereum-based lending platform
Synthetix, a tokenized trading platform offering exposure to major currencies, commodities, stocks, and indices
InstaDApp, a “trustless” smart wallet for DeFi apps
Uniswap, an Ethereum-powered protocol for facilitating automated digital token swaps
dYdX, an open trading platform for crypto assets
bZx, a financial primitive for shorting, leverage, borrowing and lending digital assets
Bancor, a standard for converting between different crypto tokens
Lightning Network, a layer-two solution for boosting speed and lowering cost of crypto transfers
WBTC, a multi-institutional framework for “wrapping tokens” on Ethereum
It’s also worth noting that the total trading volume on DEXes surpassed $10 million in the past days, says Dune Analytics.
The DeFi movement continues its expansion and Ethereum shows its versatility.
In terms of pricing, ETH is up by more than 13% in a market rally that has crypto enthusiasts extremely excited.
Everyone is waiting to see new highs for the most important assets. ETH is definitely one of the best performing coins today.