Expert Takes: Ethereum Surpasses $1,430 To Reach An ATHbr>
Ethereum, the world’s second largest cryptocurrency, has hit an all time high of over $1,430.
Ethereum has outperformed bitcoin so far this year, gaining around 81% compared to bitcoin’s 26% in their respective USD pairs.
Below are some expert insights from the crypto industry on the news.
Hsuan-Ting CEO of Furucombo a DeFi money lego application said:
“ETH’s ATH means we’re seeing the beginning of “DeFi eating traditional finance”. More and more people adopting it signals a great future for the industry regardless of whether people are using ETH to pay for something or just holding it to capture the network’s value. I’m very excited for this ATH after ICO dynasty.”
“Ethereum has continued to show a lot of positive momentum, especially over the past week or so as DeFi-focused projects have rallied. For Ethereum, Eth2 is a major upgrade for the network that promises to bring scalability. Although Ethereum is currently experiencing high gas fees, Eth2 and the move to proof of stake will create a more scalable infrastructure for DeFi applications. At the end of last year, it was announced that 100,000 ETH was already locked in the Ethereum 2.0 Deposit Contract. This large amount of locked funds, plus increased demand from major financial institutions looking to get into blockchain, has created increased demand on a macro level.”
“To a mainstream audience, Ethereum has always been the lesser known cousin to Bitcoin. However this time around we are seeing more media awareness and understanding about what Ethereum is and we hope that this continues throughout 2021 as the Decentralized Finance (DeFi) industry grows and gradually gets adopted.”