Ethereum (ETH) TVL Spiked More Than $10 Billion in July

S A KHAIR

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Quote from: Argoo on August 04, 2022, 10:41:48 AM

Quote from: poodle63 on August 04, 2022, 10:13:33 AM

It seems like that those TVL was coming from people who believe if there will be another fork coin to come soon. As i seen from some sources if there was possibility for the new ethereum will come in the next fork which was around mid of september. It seems like those people were doing preparation for such event. I can't even deny that if i have some ethereum as well but using it in the ethereum decentralized application is too risky for now with so many dapps being hacked and stolen by hacker.

Some ETH miners are unhappy that the mining of this coin will soon stop and declare that they will fork so that mining can continue. However, this market already has Ethereum Classic (ETC), which continues to use the PoW algorithm and mining. Therefore, creating another similar fork would be redundant. We look forward to September 19, when the ethereum mainnet merge is scheduled, to look at the results of the biennial update. That is why, apparently, the price of this coin has been growing in the last month. I hope that this trend will continue in the future.

There is still a lot of uncertainty in the market, and we will have to wait to see how the market reacts when ETH's POS upgrade is complete. A lot of people are expecting a new ATH for ETH this time, but I don't see it as long as bitcoin doesn't bounce back. there will probably be a small rally for ETH. ETC will certainly also increase in this ETH upgrade.

cryptoaddictchie

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Maybe or not? But Im sure some eth miners werent happy on the upcoming merge and migration. I am thinking some of them will be migrating to eth forks eth classic to continue their mining activity using PoW but some might adapt on PoS and stake their mined eth. Obviously they will choose the first so they can still use their equipment and dont go to waste.

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We already see Ethereum price increase, but Ethereum's market dominance may have increased as well. If we evaluate these two data together, we can obtain a more accurate result. Regardless, we're talking about the second most reliable cryptocurrency after Bitcoin, so I can say that I didn't find the result surprising. Ethereum deserves this positive data and more.

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Quote from: Argoo on August 04, 2022, 10:41:48 AM

Quote from: poodle63 on August 04, 2022, 10:13:33 AM

It seems like that those TVL was coming from people who believe if there will be another fork coin to come soon. As i seen from some sources if there was possibility for the new ethereum will come in the next fork which was around mid of september. It seems like those people were doing preparation for such event. I can't even deny that if i have some ethereum as well but using it in the ethereum decentralized application is too risky for now with so many dapps being hacked and stolen by hacker.

Some ETH miners are unhappy that the mining of this coin will soon stop and declare that they will fork so that mining can continue. However, this market already has Ethereum Classic (ETC), which continues to use the PoW algorithm and mining. Therefore, creating another similar fork would be redundant. We look forward to September 19, when the ethereum mainnet merge is scheduled, to look at the results of the biennial update. That is why, apparently, the price of this coin has been growing in the last month. I hope that this trend will continue in the future.

You are probably right because even ETC has seen some significant gains in the past few weeks.
May be there are people who want to switch over to ETC or may be there are people who want to continue with the fork since it will give them additional coins on the other chain.

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It is cool that we are getting this bigger again, I was afraid that it would never come to this because there are situations where the market goes up and people realize that they are losing money and they get out and sometimes they never get back into some things, but they did with defi and that is a good thing.

Swaps are the backbone of all the defi world, and having a great DEX structure is important for bitcoin since it allows you to have your ownership and then you will end up trading when you do not have to deposit anywhere, just directly. I love them, and I would love to own one eventually as well, very hard thing to do though so I doubt it would be anytime soon at all.

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If the value of TVL is calculated at market prices, then in July the price of many assets in the Ethereum ecosystem rose. The price of many coins has risen by more than 50% and the Ethereum ecosystem I think will show good growth in August.

sunsilk

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It's because of the news about the merge, the PoW and any other news related to the upgrade of ETH network. There will always be a significant gain that we're going to see.

Quote from: GreatArkansas on August 04, 2022, 07:42:45 PM

In my own opinion, most people are starting to go back to Ethereum or some are moving there for some reason for sure, they trust Ethereum more and also about the upcoming updates on Ethereum for sure.

It's because of the updates and news and eventually, when it's done, they're going to be spread again in different altcoins or most of them are going to be back for bitcoin.

This is what happens when such news are around the corner and everyone of us smells that the upgrade is going to be worth it. So, those that has ETH are seeing to be fine locking it on LPs or for the 2.0.

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It's like after the storms (dumps a few months ago), a lot of alternative Ethereum chains are also devastated and their TVL really dumped too.
In my own opinion, most people are starting to go back to Ethereum or some are moving there for some reason for sure, they trust Ethereum more and also about the upcoming updates on Ethereum for sure.

Argoo

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Quote from: poodle63 on August 04, 2022, 10:13:33 AM

It seems like that those TVL was coming from people who believe if there will be another fork coin to come soon. As i seen from some sources if there was possibility for the new ethereum will come in the next fork which was around mid of september. It seems like those people were doing preparation for such event. I can't even deny that if i have some ethereum as well but using it in the ethereum decentralized application is too risky for now with so many dapps being hacked and stolen by hacker.

Some ETH miners are unhappy that the mining of this coin will soon stop and declare that they will fork so that mining can continue. However, this market already has Ethereum Classic (ETC), which continues to use the PoW algorithm and mining. Therefore, creating another similar fork would be redundant. We look forward to September 19, when the ethereum mainnet merge is scheduled, to look at the results of the biennial update. That is why, apparently, the price of this coin has been growing in the last month. I hope that this trend will continue in the future.

poodle63

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It seems like that those TVL was coming from people who believe if there will be another fork coin to come soon. As i seen from some sources if there was possibility for the new ethereum will come in the next fork which was around mid of september. It seems like those people were doing preparation for such event. I can't even deny that if i have some ethereum as well but using it in the ethereum decentralized application is too risky for now with so many dapps being hacked and stolen by hacker.

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Ethereum total value locked (TVL) increased significantly in July due to a recovering market that saw investors pour more liquidity into decentralized finance (DeFi).

Ethereum was one of the best-performing blockchain projects in the last month. According to Be[In]Crypto research, Ethereum gained 24% in total value locked in the seventh month of 2022.

ETH opened on July 1, with a trading price of $1,068.32, reached a monthly high of $1,759.88, tested a monthly low of $1,033.96, and closed at $1,681.52. Overall, this equates to a 57% increase between the opening and closing price of ETH in July.

(Source: Beincrypto)

Topic: Ethereum (ETH) TVL Spiked More Than $10 Billion in July (Read 101 times)