Cryptocurrency
Ethereum Transaction Fees Rising Hints At DeFi Season Round Two
Ethereum Transaction Fees Rising Hints At DeFi Season Round Two: (NewsBTC) Over the summer months, Ethereum transaction fees ran hot, causing the DeFi trend and Uniswap token swapping boom to finally run out of steam. But as transaction fees begin to pick up again after a period of inactivity and downtrend, could it be a signal […]
Ethereum Transaction Fees Rising Hints At DeFi Season Round Two:
(NewsBTC) Over the summer months, Ethereum transaction fees ran hot, causing the DeFi trend and Uniswap token swapping boom to finally run out of steam. But as transaction fees begin to pick up again after a period of inactivity and downtrend, could it be a signal that another phase of DeFi dominance is about to start?
DeFi Helps Take Ethereum To 350% ROI In 2020, With More Soon To Come
Ethereum is up over 350% in 2020, beating even the ultra-bullish Bitcoin at its own game. The altcoin saw explosive growth to start the year on the back of the total value locked in DeFi applications going parabolic.
As millions, and eventually billions, poured into DeFi, at the center of it all was Ethereum. The ERC20 tokens built on the cryptocurrency’s smart contracts enabled applications mimicking traditional banking, such as lending and borrowing.
Token swapping on decentralized exchanges and automated market-making platforms also added to the momentum, bringing dawn to platforms such as Uniswap.
Ethereum at the peak reached 390% year to date returns on the heels of DeFi | Source: ETHUSD on TradingView.com
Because all of this required Ether to pay gas fees, Ethereum’s price followed the parabolic trajectory that TVL laid forth. But this summer, food tokens fresh out of the oven with little to no value, and outright scams began tarnishing the budding fintech trend.
However, as Bitcoin nears a new all-time high, there are some early signs that another wave of interest in DeFi is brewing…