After then, the trend has since rebounded and in the past few days and weeks have seen Ethereum’s DeFi erupt higher with the total locked value setting new all-time highs today to nearly $1.4 billion, gaining 40% in the process.
Most analysts are doubtful that DeFi explosive growth will possibly cause ETH rally. Humboldt Capital, a crypto investor stated recently:
“An investment thesis for ETH centered on the continued growth of DeFi, is like advocating to invest in the S&P 500 vs just the Tech sector. So far, the biggest Achilles’ heel for ETH is the fact you don’t need to invest in the protocol layer, you can just invest in the best apps.”
“An investment thesis for ETH centered on the continued growth of DeFi, is like advocating to invest in the S&P 500 vs just the Tech sector. So far, the biggest Achilles’ heel for ETH is the fact you don’t need to invest in the protocol layer, you can just invest in the best apps.”
Ethereum (ETH) is losing value at $226.99, largely unaltered on both a daily basis and from the day’s start.
Image Credit: DeFi Pulse, Shutterstock
