In terms of token price Ethereum is still buried under the weight of the bears but its potential to fuel a multi-trillion dollar finance market is much greater.
Ethereum Money Protocol in Demand
As a tradable asset Ethereum is still in the depths of a two-year bear market. Prices are back where they were in mid-2017 before cryptocurrencies really took off.
Then came the ICO bubble and Ethereum demand went through the roof propelling ETH prices to giddy heights of $1,400. Today the token is valued at a lowly $160 but its potential to serve as the future of internet money has never been greater.
There is a clear demand for Ethereum’s monetary protocol. This can be evidenced by the rapid growth in DeFi markets over the past year. During 2019 the sector grew 140% in terms of total USD value locked in DeFi.
According to defipulse.com that level is now at a record $788 million and is on track to hit a milestone billion dollars sometime in the first half of this year when ETH prices recover. In terms of ETH, there is 3.1 million locked…