Ethereum (ETH) Price to Surge Orders of Magnitude, DeFi Involved, Analyst Says

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Wed, 06/17/2020 - 12:15
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Vladislav Sopov
Joseph Todaro, a managing partner and reseacher from the Blocktown Capital hedge fund, predicted the level the Ethereum market cap could reach if DeFi succeeds
Ethereum (ETH) Price to Surge Orders of Magnitude, DeFi Involved, Analyst Says
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Mr. Todaro has been involved in cryptocurrency investing since 2013. He believes that the next bullish cycle could be good for Ethereum (ETH) market capitalization.

One trillion USD is in the cards?

Mr. Todaro reminded his Twitter followers of the narrative during the ICO euphoria in 2017. In this period, the community was expecting the Ethereum (ETH) market capitalization to reach $100B. In the next rally, the targets could be orders of magnitude higher, according to the analyst.

Joseph Todaro: Ether marketcap may reach $1T because of DeFi
Image via Twitter

According to the analyst, one trillion USD could the next Ethereum (ETH) milestone. And it is the decentralized financial instruments market that may bring Ethereum there.

At press time, Ethereum (ETH) market capitalization is $26.024B for over 111M Ether in circulation. If the Ethereum (ETH) market cap breaks $1T, its price would multiply by about 30. 

So, we can expect a four-digit Ethereum (ETH) price very soon, according to this prediction.

Controversial catalyst

At the same time, this growth factor for Ethereum (ETH) has been bashed by numerous analysts and investors. 

Legendary self-taught trader Josh Olszewicz mocked the parallels between the periods of hype around ICOs and DeFis. He asked Mr. Todaro about the possible fraudulent essence of DeFi and its realization:

So is defi also riddled with scams and naïve 'investors'?

Also, venture investment analyst Brad Mills called DeFi assets 'Digital Forex'. As covered by U.Today, Litecoin (LTC) creator Charlie Lee highlighted that DeFi is not decentralized at all.

The father of Digital Silver slammed the DeFi sector after another attack on its service. He believes that DeFi reflects 'the worst of both worlds' and doesn't go beyond 'decentralization theatre'.

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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.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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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.)