Ethereum (ETH) to Repeat 2017? Supply Sink & Buy Pressure Coming

2020-9-3 22:09

Ether outperformed Bitcoin during the ICO mania of 2017, as it was the most popular platform on which these projects were built on.

Now, during the DeFi mania, ETH is again surpassing Bitcoin, the largest digital asset with a fixed supply. In 2020 so far, ETH has recorded 238% positive returns compared to BTC’s just 56.05%.

According to on-chain analyst Willy Woo, Ethereum is actually “very close to BTC in terms of risk-reward.”

Source: charts.woobull.com

Thanks to the DeFi craze, Ether’s supply has also been shrinking as a record 6.4 million ETH is already locked in the sector. Now, Ether’s supply is going to be even more contracted thanks to DeFi darling Yearn Finance.

The project has finally added yETH vault along with yWETH and other digital assets. Obviously, these debt-based vaults carry extremely high risk like any other DeFi project and also charges a 0.5% withdrawal fee, not to mention the record transaction fees on the second largest network.

In simple terms, lock in your ETH in a vault and take out more than you put in thanks to the 65% APY.

The community is extremely excited about this development, with some calling it “the world's first autonomous on-chain hedge fund.”

“Could be a block hole for ETH, super bullish,” said another trader.

Huge moment in finance just happened with the @iearnfinance ETH vault launch. What this means is someone essentially deployed a single asset fund strategy on #ethereum. Complete with management fee and performance fees. Currently yielding ~90% APY in ETH w/ ~$6M ETH in it already

— Joey Krug (@joeykrug) September 2, 2020

“YFI yETH vault will lead to a supply sink from ETH deposited to mint DAI, but also ETH buy pressure from yield farming earnings converted to ETH. Another timely benefit is that gas costs are pooled,” stated Alex Gedevani, who handles research at Delphi Digital.

With ETH leveraged in DeFi, staking coming in Phase 0 of ETH 2.0, and yETH vault here, the supply-side liquidity crisis is coming for Ethereum, which is expected to send the digital asset’s prices higher.

Ethereum (ETH) Live Price 1 ETH/USD =444.8288 change ~ -6.25

Coin Market Cap

50.02 Billion

24 Hour Volume

19.5 Billion

24 Hour Change

-6.25 var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~ETH~USD");

The post Ethereum (ETH) to Repeat 2017? Supply Sink & Buy Pressure Coming first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3235.85 (-2.09%)
Объем 24H $24.375b
Изменеия 24h: -4.11 %, 7d: -17.09 %
Cегодня L: $3226.56 - H: $3393.89
Капитализация $389.775b Rank 2
Цена в час новости $ 443.94 (628.89%)

bitcoin supply mania 2017 eth these projects

Источник: bitcoinexchangeguide.com

bitcoin supply → Результатов: 126


Фото:

Bitcoin ‘Illiquid’ Supply Sets New All-Time High With 74% Dominance: What It Means

On-chain data shows the Bitcoin Illiquid Supply has shot up to a new all-time high (ATH) recently. Here’s what this could mean for the asset. Around 74% Of The Circulating Bitcoin Supply Is Currently ‘Illiquid’ In a new post on X, analyst James Van Straten discussed the latest trend in Bitcoin’s Illiquid Supply. The concept […]

2024-10-15 02:00


Фото:

Bitcoin (BTC) sell pressure eases as M2 money supply flips, former BitMEX CEO sees gradual recovery

There are signs that Bitcoin (BTC) is headed for potential relief from the selling pressure it has faced in recent weeks. The M2 money supply, a crucial economic indicator, has flipped positive for the first time since November 2022, hinting at a shift in investor sentiment towards assets like Bitcoin. In addition, prominent crypto market […]

2024-5-4 14:12


Фото:

Bitcoin HODLers Grows As Significant Supply Remains Locked

Despite a larger portion of Bitcoin’s total supply being “inactive” for over a year, recent data revealed impressive growth in investors holding on to their BTCs during the rally. Bitcoin HODLing Yawns For Growth With Lesser Supply On Wednesday, November 15, a crypto analyst known as Root took to his official X (formerly Twitter) handle to share valuable data concerning Bitcoin.

2023-11-17 19:00


Фото:

This Could Be The Metric To Watch For A Bitcoin Bounce: Santiment

On-chain data from Santiment suggests that the stablecoin whale supply could be the metric to watch for the likelihood of a Bitcoin bounce. Whale Supply Of Stablecoins Could Hold Key To Bitcoin Rebound In a recent post on X, the on-chain analytics firm Santiment discussed the percentage of the total stablecoin supply that the whales in the sector are holding right now.

2023-9-4 17:30


Bitcoin exchange supply maintains the drop, but will BTC’s resurgence change its fortune

Supply on centralized exchanges remains depleted despite an increase in Bitcoin network activity. Bulls might need to keep a cool head as 30-day SMA addresses had not finalized surpassing the 3The post Bitcoin exchange supply maintains the drop, but will BTC’s resurgence change its fortune appeared first on AMBCrypto.

2023-1-19 05:30


Bitcoin Exchange Reserve Has Now Reached An Equilibrium After 2 Years Of Downtrend

On-chain data shows the percentage of Bitcoin supply on exchanges seems to have plateaued over the past few months, ending an overall downtrend that lasted about two years. Bitcoin Exchange Reserve Starts Moving Sideways As Inflow And Outflows Attain Equilibrium As per the latest weekly report from Glassnode, the percentage of the total BTC supply on exchanges looks to have ended its decline recently and is now moving sideways.

2022-3-9 22:00


BTC Supply Drying Up, 6.3% Of Total Bitcoin Supply Left On Exchanges

Bitcoin’s circulating supply has fallen near the end of 2021, with December representing the lowest month on average in years for Btc supply. 6. 3% Of BTC On Exchanges The amount of Bitcoin in circulation has been falling since the halving in 2020, according to a new study from CryptoRank, with access to acquire Bitcoin on exchanges also declining.

2021-12-27 18:20


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Цена Ethereum пробила уровень $4000

6 декабря котировки второй по капитализации криптовалюты превысили уровень $4000 впервые с марта. За последние сутки актив вырос на 1,4%, согласно CoinGecko. 15-минутный график ETH/USDT биржи Binance. Данные: TradingView.

Соучредитель Ethereum перевел 20 000 ETH на Kraken

Разработчик и сооснователь Ethereum Джеффри Вильке отправил 20 000 ETH (~$72,5 млн) на биткоин-биржу Kraken. На это обратили внимание в Spot On Chain. Эксперты отметили, что транзакция произошла на фоне роста цены криптовалюты, в результате которого курс приблизился к $3700.

Цена Ethereum пробила уровень $2800

Вторая по капитализации криптовалюта за последние сутки подорожала на 9,6%. Цена актива пробила уровень $2800, поднявшись к значениям начала августа. На графике ниже видно, что восходящее движение поддерживалось всплеском объемов торгов: Четырехчасовой график ETH/USDT биржи Binance.

Объем торгов спотовыми Ethereum-ETF превысил $500 млн

Общий объем торгов спотовыми ETF на базе второй по капитализации криптовалюты преодолел рубеж в $500 млн спустя несколько часов после дебюта нового инструмента на регулируемых американских биржах.

Bitwise внесла изменения в форму S-1 для спотового Ethereum-ETF

Управляющий активами Bitwise подал обновленную форму S-1 для спотового биржевого фонда на базе Ethereum за несколько дней до крайнего срока 8 июля. Источники The Block сообщили, что SEC не назвала точное время рассмотрения документов, но компании могут получить одобрение к концу следующей недели.