Doc's Daily Commentary
Mind Of Mav
11 Upside Reasons To Invest In Ethereum
The price of Ethereum (ETH) rose above the $1,420 level, breaking all-time high record yesterday.
These are 11 reasons why I think the Ethereum network and its price will continue to rise:
Ethereum continues to dwarf the cryptocurrency sector in terms of transaction fees. On average, more than $7 million in transaction fees are paid daily on the Ethereum network, which is twice as much as BTC. This, arguably, makes Ethereum the most useful network right now.
The number of large ETH transactions worth $100,000 and above is about 7 times lower than the ATH period in 2018. This suggests that the whales are not yet involved in the game . . . yet.
ETH hash Rate reached the all-time high record (313.12 TH/s). This shows that miners trust the network more than ever.
The number of daily active addresses on the Ethereum network has doubled since the beginning of the year to over 550,000.
The number of users in the Defi ecosystem hosted by Ethereum has increased to over 1.25 million. Ethereum continues to be a leader in the decentralized finance world in terms of network usage.
The total value of locked tokens on DeFi platforms has reached over $25 billion. The DeFi ecosystem is growing to contribute to Ethereum.
Ethereum network has about $22 billion in stablecoin supply. This means that stablecoin reserves in the network have increased by $20 billion over a 1-year period, making ETH network is more active than ever.
The monthly trading volume of decentralized cryptocurrency exchanges has reached over $ 30 billion. That means a 50-fold increase in the 1-year chart. The Ethereum network may soon rival the centralized exchanges known as CEX.
More than $ 20 billion worth of tokens were invested in lending protocols. The value of active loans rose to over $4.5 billion.
ETH is steadily flowing out of exchanges. Last week, even in just one day, there were $740 million ETH exit from exchanges. This indicates long-term investment.
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The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:
CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)
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The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.
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