Ethereum (ETH) Price Refuses to Pump Now, But May Follow Mid-Caps, Analysts Say

News
Fri, 06/19/2020 - 14:28
Vladislav Sopov
Ethereum (ETH) price growth is lagging behind the ongoing DeFi token rally. Ethereum (ETH) ecosystem contributors are figuring out whether that is cause for concern
Cover image via stock.adobe.com
Contents

The global cryptocurrency community is excited by the rapid price upsurge of some native assets of decentralized financial instruments. COMP, the governance token of Compound Protocol, is inching closer to Binance's CoinMarketCap Top-20 with almost triple-digit daily gains.

Ethereum (ETH) price lags

At the same time, the Ethereum (ETH) blockchain is remaining the nucleus of decentralized financial vehicles. So, with such a splendid use-case, it should also skyrocket. However, it is demonstrating a pale performance.

Image via Twitter

Ryan Sean Adams, a seasoned cryptocurrency investor, is confused by this dissonance. According to his tweet, Ethereum (ETH) 'went parabolic' with its last globally recognized use-case, ICOs of 2016-2017.

So, it should follow the same pattern with the expansion of DeFi,  but it has failed. Mr. Adams asked his Twitter audience about the possible reasons for this discrepancy.

Anthony Sassano, marketing officer in Set Protocol, EthHub community co-founder and host of Into the Ether podcast, believes that Ethereum (ETH) and Bitcoin (BTC) prices will spike after the exhaustion of the mid-cap token rally.

Mr. Sassano added that large-cap assets like Bitcoin (BTC) and Ethereum (ETH) print other sorts of cycles such as low-caps and mid-caps. The last two categories are subject to much more explosive pumps.

Ethereum (ETH) price targets $1,000

According to the most popular Australian blockchain evangelist Alex Saunders, Ethereum (ETH) needs nothing but time to reach full steam. And it could still revisit four-digit waters in the next rally.

As covered by U.Today Crypto News, prominent blockchain researcher Chris Burniske announced that we're only approaching the epoch of the DeFi rise.

His views are shared by seasoned investor and CEO of Three Arrows Capital, Su Zhu, who treats DeFi as a more sustainable and reliable catalyst for further Ethereum (ETH) price growth.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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