The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Blockchain

Ethereum’s Sentiment on Twitter Becomes Extremely Positive as DeFi’s Value Tops $80B

by Miki 09/01/2021
by Miki 09/01/2021 0 comment

The Ethereum (ETH) network has been experiencing an uptick in activities and this made crowd sentiment on Twitter extremely positive, as disclosed by IntoTheBlock.

The Data analytic firm noted:

“Twitter’s sentiment about Ethereum is disproportionately positive. In recent weeks, the Ethereum narrative in social media like Twitter has been extremely positive.”

Image

IntoTheBlock added:

“Ethereum futures bullishness continues. Most Ethereum futures remain in contango, indicating a strong positive sentiment towards the crypto asset. A contango momentum indicates that the futures price is higher than the spot price.”

Image

The crypto community has been giving the Ethereum network a keen eye after it underwent its first deflationary block on August 5 based on the London Hardfork or EIP 1559 upgrade. 

This is because Ethereum supply was made scarce every time Ether was burnt after being utilised in transactions.

This, coupled with the fact that Ethereum may be experiencing a liquidity crisis, is expected to push ETH prices further. IntoTheBlock explained:

“Just in the month of August, more than 781k ETH has been withdrawn from exchanges. This, combined with the amount of ETH deposited in the 2.0 contract + the amount locked in DeFi (~ 9.7m) + the increasing burn rate driven by NFTs, may push a liquidity crisis in Ethereum.”

DeFi’s value surpasses $80 billion

The decentralised finance (DeFi) sector took the world by storm in 2020 after its value grew by fourteen times. Its presence in the crypto space continues to be felt because it has become a billion-dollar industry valued at $81.85 billion.

Experts expect this industry to experience more growth in the coming years. For instance, Matthew Roszak, a veteran crypto investor, stated that the DeFi sector would see 10x growth to become an $800 billion industry thanks to increasing mainstream crypto adoption, the global chase for yield, and increased inflation.

DeFi is founded on blockchain-based smart contracts that fulfil certain financial functions based on the underlying code. 

According to a recent report from blockchain analytic firm Chainalysis, the United States had the highest DeFi adoption rate, followed by Vietnam, Thailand, China, and the United Kingdom.

Image source: Shutterstock



Source link

Views: 0
80BDeFisEthereumsExtremelyPositiveSentimenttopsTwitter
Share
0
FacebookTwitterPinterestEmail
previous post
NFTs transform the art market for young novice buyers
next post
Dogecoin Foundation Clarifies Its Relationship With Dogecoin 2.0

Related Posts

Iran Bans Crypto Mining to Avert Major Blackouts...

12/29/2021

Italian Sports Car Maker Ferrari Inks Multi-Year Deal...

12/29/2021

ProShares Files for New Metaverse ETF With U.S....

12/28/2021

Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute...

12/28/2021

Binance Trading Platform Licenses in Bahrain, Canada

12/28/2021

Tokenized Bitcoin in Circulation Nears a Half Million...

12/28/2021

Ethereum 2.0 Full Upgrade Will Prompt a 1%...

12/28/2021

Iranian Crypto Miners get Cut Off as Country...

12/28/2021

Kraken Develops NFT Trading Platform, Offering Token-Backed Loans

12/27/2021

Crypto Review 2021 | Blockchain News

12/27/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • A Rare Bullish Bitcoin Signal Has Finally Appeared

  • Binance Discontinues Euro Bank Transfers amid Regulatory Issues

  • $3.72 billion liquidated as cryptos fall by double-digit percentages

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,445.00-1.95%
  • ethereumEthereum(ETH)$2,002.21-0.59%
  • tetherTether(USDT)$1.000.08%
  • binancecoinBNB(BNB)$326.893.11%
  • usd-coinUSD Coin(USDC)$1.00-0.02%
  • rippleXRP(XRP)$0.415698-0.97%
  • Binance USDBinance USD(BUSD)$1.000.10%
  • cardanoCardano(ADA)$0.53-1.44%
  • SolanaSolana(SOL)$50.93-2.05%
  • polkadotPolkadot(DOT)$10.393.50%
  • dogecoinDogecoin(DOGE)$0.085312-1.16%
  • Lido Staked EtherLido Staked Ether(STETH)$1,964.000.04%
  • AvalancheAvalanche(AVAX)$30.44-2.30%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,400.00-2.05%
  • tronTRON(TRX)$0.0800463.24%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.0000121.19%
  • daiDai(DAI)$1.000.04%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$70.52-0.71%
  • CronosCronos(CRO)$0.189776-2.02%
  • LADZLADZ(LADZ)$0.0686894.36%
  • matic-networkPolygon(MATIC)$0.670.52%
  • leo-tokenLEO Token(LEO)$4.90-0.01%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.10-0.68%
  • FTX TokenFTX Token(FTT)$30.07-1.35%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$195.93-0.44%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.321.11%