Decentralized Applications (DApps) on the Ethereum network recorded over 1.2 million new users in 2019. Continuous growth of the ETH ecosystem is an essential fundamental factor for its long-term price trend.
Report shows there is fast growth everywhere for Ethereum
The main area of parabolic growth for Ethereum throughout the past year has been Decentralized Finance (DeFi). In the years ahead, industry experts forecast DeFi to be the biggest driver of Ethereum adoption.
Alongside DeFi, the solid growth rate of DApps is a crucial fundamental factor for ETH in the long run because it indicates increasing usage of Ethereum across various markets outside of finance.
The DApp.com 2019 annual report read:
“Ethereum has over 1.4 million active dapp users throughout the year, including 1.28M new users and 137K old users, which accounted for 10% of the total amount of active users.”
Currently, gambling accounts for the overwhelming majority of DApp usage on both Ethereum and other major smart contract protocols.
That does not necessarily allude to conventional gambling as it includes prediction markets that enable users to place wager on varying topics.
For instance, through smart contract protocols, users on Ethereum can bet on anything from football matches to presidential elections.
The report discovered:
“The amount of gambling users has increased by 372%, with its volume doubled. The amount of high-risk dapp user growth is also 372%, with its volume up 218%.
The amount of blockchain gaming users has a great increase of 162% as expected since 2018. More gaming products are launched targeting a border market. However, the investment hype (or presale hype) of dapp games has weakened, its volume has also decreased significantly – a 60% drop compared to 2018.”
It provides a glimpse into the future of Ethereum: in the next several years, there is high probability that the major use cases of ETH will revolve around gambling and DeFi.
2018 vs 2019 performance comparison for DApps on Ethereum and other major smart contract protocols (source: DApp.com)
The sports betting market in itself is anticipated to reach $8 billion in the next five years, according to data from MGM Resorts, Hard Rock and Mohegan Sun.
As reported by NewsBTC on January 20, several investment firm executives believe that if Ethereum grabs hold of even a small percentage of the global financial market through DeFi, it can reach a valuation of a trillion dollars.
How can such adoption be reached?
The most basic and fundamental infrastructure DeFi platforms and DApps need is scalability.
Ethereum is moving towards the release of 2.0, which would center around second-layer scaling solutions and the highly anticipated move to proof-of-stake (PoS) consensus algorithm.
PoS would eliminate miners from the blockchain network, further optimizing transaction settlement to alleviate pressure off of DeFi and DApps.
Even then, users would need some sort of incentive to switch from centralized platforms to decentralized platforms. In that regard, executives expect DeFi to play a major role.
An overall increase in DeFi and DApp usage will positively affect the long-term price trend of Ethereum, as it would require more economic bandwidth. It would require the price of ETH to increase to create more value in the market. The post appeared first on NewsBTC. origin »
Dogecoin (DOGE) price, like most memecoins, entered a downtrend on Monday as investors reacted to the SEC lawsuit against Binance and Coinbase.
Can the confident long-term investors force an early price rebound?
The post Dogecoin (DOGE) Price Hits 2023 Low: Long-term Holders Stay Optimistic appeared first on BeInCrypto.
Disclaimer: The findings of the following article attempt to analyze the emerging patterns in the Litecoi long-term market and its impact on the price.
The ball has been set in motion for an altcoiThe post Litecoin long-term Price Analysis: 27 October appeared first on AMBCrypto.
Ethereum's long-term outlook seemed bearish, at the time of writing. In fact, the price might drop by 20-30% as this bearish pattern develops on the charts. Interestingly, this might coincide with BitThe post Ethereum long-term Price Analysis: 28 September appeared first on AMBCrypto.
Disclaimer: The following price prediction should not be taken as investment advice as it is the opinion of the writer. The prediction should materialize over the current week.
After falling bait tThe post XRP long-term Price Analysis: 2 September appeared first on AMBCrypto.
XMR/USD Long-term Trend: Ranging Supply zone: $100. 00, $110. 00, $120. 00 Demand zone: $30. 00, $20. 00, $10. 00 XMR long-term outlook remains in a range-bound market. The New Year started with the formation of a bullish railroad on 1st January at the coin rose to $49.
TRX/USD Long-term Trend: Bullish Supply zone: $0. 03500, $0. 04000, $0. 04500 Demand zone: $0. 01000, $0. 00800, $0. 00600 Tron long-term outlook is a bullish trend. The bulls returned after a drop in price to $0.
NEO/USD Long-term Trend – Ranging Distribution territories: $12, $16, $18 Accumulation territories: $5, $4, $3 NEO/USD market has been ranked amidst one of the crypto-markets that have been tightly experiencing price range movements along with its 14-day SMA indicator.
ZEC/USD Long-term Trend – Ranging Distribution territories: $90, $110, $130 Accumulation territories: $40, $30, $20 There have been more largely price ranging movements in the market valuation of ZEC/USD since the beginning of this year than that of the last week of the last year. Taking a keen look at the trending zone of the […]
BNB/USD Long-term Trend – Ranging Distribution territories: $8, $9, $10 Accumulation territories: $4, $3, $2 BNB/USD market driving forces are still kept around the same last year’s range boundaries until the present time.
IOT/USD Long-term Trend -bullish Supply zone: $0. 6000, $0. 7000, $0. 8000 Demand zone: $0. 1000 $0. 0800, $0. 0600 IOTA is in a bullish trend in the long-term outlook. The strong bullish pressure did push price up at $0.
A look at the Weekly chart in logarithmic form for XRP shows that price fell to the support area of $0. 25-0. 30 and a bounce ensued. Price found resistance at $0. 42 and formed a spinning top candle (yellow arrow) indicating indecision.
BSV/USD Long-term Trend – Ranging Distribution territories: $100, $120, $140 Accumulation territories: $65, $55, $45 BSV/USD market valuation has been featuring differential market zones within which it has been ranging barely over a week.
XTZ/USD Long-term Trend: Ranging Resistance levels: $1.200, $1.300, $1.400 Support levels: $0.400, $0.300, $0.200 The XTZ/USD pair had been in a sideways trend in the last ten days. On December 16, the bulls broke above the 12-day EMA and the 26-day EMA to reach the high of $0.56. But the crypto was resisted when the […]
VET/USD Long-term Trend: Ranging Resistance levels: $0.0080, $0.0090, $0.010 Support levels: $0.0040, $0.0030, $0.0020 The VET/USD pair had been in a sideways trend in the last ten days. On December 16, the bulls broke above the 12-day EMA and the 26-day EMA to reach the high of $0.0054. But the crypto fell to the low […]
ETC/USD Long-term Trend: Bearish. Resistance levels: $8, $10, $ 12Support levels: $5, $3, $1. On December 17, the ETC/USD pair had been in a bullish trend. From the weekly chart, the bulls are making a bullish movement to the 12-day EMA and the 26-day EMA. If the bulls break above the EMAs, the crypto will […]
EOS/USD Long-term Trend: Bearish Resistance levels: $ 6, $7, $8. Support levels: $3, $2, $1. The EOS/USD pair was in a sideways trend in the last two weeks. On December 23, the bulls reached the high of $3.
XRP /USD Price Long-term Trend: Ranging Supply levels: $0. 56, $0. 58, $ 0. 60 Demand levels: $0. 37, $0. 35, $0. 33 The XRP/USD pair was in a sideways trend in the last ten days. The crypto’s price was fluctuating between the levels of $0.
LTC/USD Long-term Trend: Bearish Resistance Levels: $60, $70, $80 Support levels: $30, $20, $10 The LTC/USD pair was in a sideways trend in the last ten days. The crypto’s price was fluctuating above the $30 price level.
ETH/USD Long-term Trend: Bearish Resistance Levels: $350, $370, $390 Support Levels: $150, $130, $110 The ETH/USD pair had been in the bullish trend zone since on December 17. The bulls had tested twice the $160 price level and were unable to break it.
BTC/USD Long-term Trend: Bearish Resistance levels: $7,200, $7,300, $7,400 Support levels: $3,800, $3,700, $3,600 The BTCUSD pair had been ranging in the last ten days. In the short time frame, Bitcoin was ranging at the $3,900 price level.
CoinSpeaker
XRP Price Analysis: XRP/USD Trends of January 02–08, 2019
On the long-term outlook, the breakout at the upper range level of $0. 38 will give an opportunity to XRP traders to go long.
CoinSpeaker
XRP Price Analysis: XRP/USD Trends of January 02–08 2019
On the long-term outlook, the breakout at the upper range level of $0. 38 will give an opportunity to XRP traders to go long.
NEO/USD Long-term Trend – Ranging Distribution territories: $12, $16, $18 Accumulation territories: $5, $4, $3 NEO lost out its momentum to the US dollar while it touched the 50-day SMA’s trend-line from below on December 24.
ZEC/USD Long-term Trend – Ranging Distribution territories: $100, $120, $140 Accumulation territories: $40, $30, $20 The USD price worth slightly prevailed over the market valuation of ZEC on December 25.
ADA/USD Long-term Trend –Ranging Supply zone: $0.0600, $0.0800, $0.1000 Demand zone: $0.0100, $0.0080, $0.0060 ADA remains in a range-bound market in its long-term outlook. $0.05146 in the supply area on 24th December was the high of the week the bulls pushed the cryptocurrency before exhaustion denoted by a wick as the daily candle closed a […]
XMR/USD Long-term Trend: Ranging Supply zone: $100. 00, $110. 00, $120. 00 Demand zone: $30. 00, $20. 00, $10. 00 XMR long-term outlook continues in a range-bound market. The bulls had a brief upper hand within the range as they pushed the cryptocurrency to $60.
IOT/USD Long-term Trend -bullish Supply zone: $0.8000, $0.9000, $1.0000 Demand zone: $0.1000 $0.0800, $0.0600 IOTA is still in a bullish trend in the long-term outlook. $0.4088 in the supply area was the high the bulls could manage to push the coin on 24th December before it lost momentum as exhaustion sets in with a bearish pinbar […]
TRX/USD Long-term Trend: Bullish Supply zone: $0. 03500, $0. 04000, $0. 04500 Demand zone: $0. 01000, $0. 00800, $0. 00600 Tron long-term outlook remains in a bullish trend. The strong bullish pressure was sustained as TRXUSD made an initial high of $0.
BSV/USD Long-term Trend – Ranging Distribution territories: $110, $130, $150 Accumulation territories: $60, $50, $40 BSV/USD market valuation has been trending southwards by basically featuring lower lows until yesterday early trading hours since this week’s trading sessions commence.
XTZ/USD Long-term Trend: Bearish Resistance levels: $1. 200, $1. 300, $1. 400 Support levels: $0. 400, $0. 300, $0. 200 The XTZ/USD pair was in a bearish trend as the price fell to the low of $0. 48382.
VET/USD Long-term Trend: Bearish Resistance levels: $0. 0080, $0. 0090, $0. 010 Support levels: $0. 0040, $0. 0030, $0. 0020 The VET/USD pair was in a bullish trend in the last week of December 2018.
ETC/USD Long-term Trend: Bearish. Resistance levels: $8, $10, $12 Support levels: $5, $3, $1. The ETC/USD pair was in a bullish trend in the last week of December 2018. The ETC price has an opening balance of $4.
EOS/USD Long-term Trend: Bearish Resistance levels: $ 6, $7, $8. Support levels: $3, $2, $1. The EOS/USD pair was in a bullish trend in the last week of December. The price of EOS has an opening balance of $2.
XRP /USD Price Long-term Trend: Bearish Supply levels: $0. 56, $0. 58, $ 0. 60 Demand levels: $0. 37, $0. 35, $0. 33 The price of XRP/USD pair was in a bullish trend in the last week of December 2018.
LTC/USD Long-term Trend: Bearish Resistance Levels: $60, $70, $80 Support levels: $30, $20, $10 The LTC/USD pair was in a bullish trend in the last week of December 2018. The crypto has an opening balance of $32.
ETH/USD Long-term Trend: Bearish Resistance Levels: $350, $360, $370 Support Levels: $130, $120, $110 The ETH/USD pair was in a bullish trend in the last week of December 2018. Also, in December, neither the bulls nor the bears have control over the price of Ethereum.
For investors whose first time investing in bitcoin was in 2018 or after late 2017, there is a high likelihood that they have incurred substantial losses for the fiscal year of 2018 if they haven’t sold yet.
Note: The following is a short-term price analysis of Ripple’s XRP. For the long-term XRP price analysis, please click here. 6-Hour Outlook A look at the 6-hour chart shows that price hit a high of $0.
Note: This is short-term Dogecoin price analysis. For my long-term Dogecoin price analysis please click here. 12-Hour Outlook A look at the 12-hour chart for Dogecoin shows that price sprang from the support at $0.
A look at the 3-day chart in logarithmic form shows that price broke the long-standing support at $4 and promptly fell to the main area of support close to $1. 5. A quick rally ensued, and the price is now trading at around $2.
A look at the Weekly chart for Dogecoin in logarithmic form shows that price fell to the main support area at $0. 002 for the third time. If this area does not hold, the next support area will be at $0.
Mixed reactions have trailed the market space despite the bull run that has greatly built the structure of the market against 2019. Traders are apparently not fazed by the fact that BTC managed to make an upsurge that landed it at $4200, this can be credited to the skepticism birthed by the long-term bearish outpour […]
The post Can Bitcoin (BTC) Round up the Year with a Closing Price above $3000? appeared first on ZyCrypto.
NEO/USD Long-term Trend – Bullish Distribution territories: $12, $32, $52 Accumulation territories: $5, $4, $3 NEO market price has been somewhat on an appreciation trend against the US dollar trade worth about a few days back.
ZEC/USD Long-term Trend – Bullish Distribution territories: $105, $125, $145 Accumulation territories: $40, $30, $20 There has been relatively an increase in the market valuation of ZEC/USD over a few days.
BNB/USD Long-term Trend – Bullish Distribution territories: $8, $9, $10 Accumulation territories: $4, $3, $2 Binance Coin has been gaining value against the US dollar market valuation over a few days ago.
XMR/USD Long-term Trend: Ranging Supply zone: $100.00, $110.00, $120.00 Demand zone: $30.00, $20.00, $10.00 XMR long-term outlook is a range-bound market. The bullish doji that started last week trading session was a signal to the bulls gradual returned but confirmation came on 17th December after the formation of a bullish engulfing candle which closed above […]
IOT/USD Long-term Trend -bullish Supply zone: $0.5000, $0.6000, $0.7000 Demand zone: $0.1000 $0.0800, $0.0600 IOTA returns to a bullish trend in the long-term outlook. The bullish gradual returned in last week analysis turned out to be a major trend reversal with a breakout at the 10-EMA on 17th December. $0.2732 in the supply area was […]
Ethereum price has recovered from lows of $2,619 to trade above $2,728. Incidentally, ETH price as jumped by more than a percentage in the past 24 hours. The gains come amid a spike in daily volume, with data showing the global trading volume on the Ethereum network hit $20 billion. While ETH remains below the […]
Cosmos is the internet of blockchains - an ever-expanding ecosystem of interconnected, blockchain-based apps and services. Powered by the Interchain Stack, Cosmos boasts over 100 IBC-enabled chains. - Medium
Cryptocurrency prices rebounded on Saturday, with Bitcoin moving above $97,500 and the market cap of all tokens soaring to $3. 25 trillion. The crypto fear and greed index exited the fear zone and moved neutral at 43.
Scaling Ethereum's L1 could enhance security and resilience, ensuring robust decentralization amid growing L2 reliance and potential centralization risks.
The post Vitalik calls for 10X scaling to reinforce Ethereum’s L1 dominance in an L2-heavy world appeared first on Crypto Briefing.
The cryptocurrency market showcased a mix of gains and losses on February 14, with fluctuating price movements following the release of key US economic data. While Bitcoin (BTC) managed to hover around the $97K level despite slight turbulence, Ethereum (ETH) hovered near $2,700.
The Ethereum Foundation's DeFi engagement may reshape its financial strategy, but staking could challenge its neutrality in future forks.
The post Ethereum Foundation to explore staking after allocating 45,000 ETH to DeFi appeared first on Crypto Briefing.
BlackRock, крупнейшая в мире инвестиционная компания, заявила, что BTC теперь можно рассматривать как «безрисковый» актив, аналогичный традиционному золоту. Стоит отметить, что до сих пор многие инвесторы рассматривали криптовалюту в целом как довольно нестабильное вложение.