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Thursday, September 24, 2020

DEFI IS GETTING STRONGER, THIS DIGITAL COIN IS PREDICTED TO BE FERTILE



    In the midst of the Covid-19 pandemic, not all business sectors have been affected, but some are increasingly showing an increase in income. One of them is the DeFi project. This project was developed in 2019.


 However, it began to go global during this pandemic thanks to the skyrocketing asset of DeFi, YFI, which was able to beat the might of the Bitcoin digital coin recently by touching the price of IDR 567 million / YFI. The other most phenomenal thing is that this coin has only been listed for less than 3 months on its website and has been able to skyrocket to IDR 567 million / YFI. The increase in YFI's digital assets is also due to the development of DeFi projects out there to increase financial inclusion through a closed financial system. Where, the sector most actively worked on by the DeFi project is cryptocurrency lending.


However, of the many DeFi projects currently working on, there is one cryptocurrency that is getting windfall from the increasing number of DeFi projects out there. Do you think Coinvestor's friends know what coin is? The digital coin is the cryptocurrency created by Vitalik Buterin, namely Ethereum (ETH).


How do you think Ethereum (ETH) has been doing this year? Tokcer, right? Based on Coinvestments' monitoring, the price of Ethereum throughout 2020 has experienced a jump of almost 200%. One of the main reasons for the rise in the price of Ethereum (ETH) is that DeFi projects out there are heavily using blockchain platforms with their smart contract services. Not to mention, Ethereum (ETH) can be used as collateral for crypto assets to get stablecoins. The bullish trend of Ethereum is used by many investors to pledge ETH on the DeFi lending platform to get stablecoins.


With the hope that the Ethereum (ETH) guarantee can experience an increase in price and investors do not need to be confused about paying the loan interest. So, the loan interest can be covered by an increase in the price of Ethereum in the future.


According to Josh Olsewicz, Analyst, Brave New Coin, in early June 2020, predicted that the price of ETH could reach $ 750 or IDR 10.4 million / ETH. Of course this prediction can be seen from the fundamentals of the Ethereum platform itself which has been used for years, not to mention the increase in the DeFi project which is currently the most active blockchain sector in the world.

 

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