Ethereum has recently touched a market capitalization of forty billion USD, the highest level since August 2018. Analysts are attributing this upsurge primarily to the rapid rise of decentralized finance.
Market cap is calculated by multiplying the price of a virtual currency with the number of tokens in circulation. It’s a practical standard for measuring the size of a blockchain network. The mounting market capitalization of Ethereum is linked to its increasing price, which, likewise, hasn’t been this high since August 2018.
The good fortune of Ethereum is primarily linked to this month’s boom in the Defi space. DeFi primarily refers to non-custodial financial products. These include decentralized stablecoins, synthetic stocks, or lending protocols that provide users an uncomplicated admission to high-interest rates.
The rapid upsurge of DeFi has helped spike the whole cryptocurrency market capitalization. Subsequent to the digital asset market’s rapid decline in mid-March, when its market cap crashed to around one hundred and twenty two billion USD amid the shock to global financial markets caused by the coronavirus pandemic, the digital currency market capitalization has since almost tripled.
The Future is Now Media Group have launched a YouTube show called The Future is Now Digest, hosted by Miguel Francis-Santiago. Together […]
April 30, 2020
PRESS RELEASE — 10,000 participants are expected to join CHAIN2020 in Hong Kong on January 15, which aims to become one of […]
December 27, 2019
Colombia has taken a significant step towards regulating the country’s digital asset ecosystem. The government of the nation has permitted a pilot […]
September 28, 2020
Venezuela’s National Superintendency of Crypto Assets and Related Activities (SUNACRIP), has recently issued the first ruling to officially legalize digital asset mining […]
September 28, 2020