• bitcoinBitcoin(BTC)$41,446.0010.83%
    BITCOIN
    24H : 10.83%
    Volume : $89,531,528,866.00
    Marketcap : $770,657,951,476.00
  • ethereumEthereum(ETH)$1,265.555.74%
    ETHEREUM
    24H : 5.74%
    Volume : $52,947,446,170.00
    Marketcap : $144,264,203,245.00
  • tetherTether(USDT)$1.000-0.06%
    TETHER
    24H : -0.06%
    Volume : $124,312,532,284.00
    Marketcap : $23,557,202,030.00
  • rippleXRP(XRP)$0.3386.23%
    XRP
    24H : 6.23%
    Volume : $10,713,677,941.00
    Marketcap : $15,544,811,529.00
  • litecoinLitecoin(LTC)$173.294.75%
    LITECOIN
    24H : 4.75%
    Volume : $10,977,551,003.00
    Marketcap : $11,477,433,361.00
  • cardanoCardano(ADA)$0.317-1.15%
    CARDANO
    24H : -1.15%
    Volume : $4,401,948,182.00
    Marketcap : $9,954,594,055.00
  • bitcoin-cashBitcoin Cash(BCH)$449.601.46%
    BITCOIN CASH
    24H : 1.46%
    Volume : $7,228,198,009.00
    Marketcap : $8,376,012,530.00
  • stellarStellar(XLM)$0.316-9.43%
    STELLAR
    24H : -9.43%
    Volume : $3,880,988,592.00
    Marketcap : $7,084,454,610.00
  • chainlinkChainlink(LINK)$16.13-1.97%
    CHAINLINK
    24H : -1.97%
    Volume : $2,492,940,132.00
    Marketcap : $6,448,503,310.00
  • usd-coinUSD Coin(USDC)$1.000-0.07%
    USD COIN
    24H : -0.07%
    Volume : $2,515,773,577.00
    Marketcap : $4,589,916,765.00
  • eosEOS(EOS)$3.23-0.54%
    EOS
    24H : -0.54%
    Volume : $4,948,946,278.00
    Marketcap : $3,081,176,404.00
  • moneroMonero(XMR)$149.78-1.01%
    MONERO
    24H : -1.01%
    Volume : $753,419,503.00
    Marketcap : $2,688,492,616.00
  • tronTRON(TRX)$0.031-1.72%
    TRON
    24H : -1.72%
    Volume : $2,203,595,564.00
    Marketcap : $2,242,669,586.00
  • nemNEM(XEM)$0.238-5.44%
    NEM
    24H : -5.44%
    Volume : $195,114,105.00
    Marketcap : $2,158,796,675.00
  • theta-tokenTheta Network(THETA)$1.96-6.15%
    THETA NETWORK
    24H : -6.15%
    Volume : $161,830,236.00
    Marketcap : $1,991,580,609.00
  • okbOKB(OKB)$7.14-4.80%
    OKB
    24H : -4.80%
    Volume : $251,859,096.00
    Marketcap : $1,945,713,221.00
  • tezosTezos(XTZ)$2.55-4.82%
    TEZOS
    24H : -4.82%
    Volume : $324,311,510.00
    Marketcap : $1,942,059,499.00
  • crypto-com-chainCrypto.com Coin(CRO)$0.08512.00%
    CRYPTO.COM COIN
    24H : 12.00%
    Volume : $164,989,236.00
    Marketcap : $1,910,770,540.00
  • vechainVeChain(VET)$0.029-1.53%
    VECHAIN
    24H : -1.53%
    Volume : $567,680,229.00
    Marketcap : $1,872,967,270.00
  • cosmosCosmos(ATOM)$6.20-6.77%
    COSMOS
    24H : -6.77%
    Volume : $547,998,896.00
    Marketcap : $1,490,917,218.00
  • daiDai(DAI)$1.010.440%
    DAI
    24H : 0.440%
    Volume : $693,388,505.00
    Marketcap : $1,375,742,067.00
  • leo-tokenLEO Token(LEO)$1.33-0.32%
    LEO TOKEN
    24H : -0.32%
    Volume : $18,927,197.00
    Marketcap : $1,301,244,271.00
  • dogecoinDogecoin(DOGE)$0.0098-1.96%
    DOGECOIN
    24H : -1.96%
    Volume : $469,557,029.00
    Marketcap : $1,252,634,490.00
  • huobi-tokenHuobi Token(HT)$4.92-1.21%
    HUOBI TOKEN
    24H : -1.21%
    Volume : $202,726,422.00
    Marketcap : $1,149,650,209.00
  • iotaIOTA(MIOTA)$0.377-4.83%
    IOTA
    24H : -4.83%
    Volume : $58,384,003.00
    Marketcap : $1,042,445,203.00
  • makerMaker(MKR)$1,123.124.81%
    MAKER
    24H : 4.81%
    Volume : $218,104,009.00
    Marketcap : $1,007,273,267.00
  • dashDash(DASH)$100.46-4.20%
    DASH
    24H : -4.20%
    Volume : $764,179,886.00
    Marketcap : $993,722,644.00
  • ethereum-classicEthereum Classic(ETC)$7.15-1.82%
    ETHEREUM CLASSIC
    24H : -1.82%
    Volume : $1,298,138,519.00
    Marketcap : $833,790,670.00
  • decredDecred(DCR)$64.0716.72%
    DECRED
    24H : 16.72%
    Volume : $41,141,574.00
    Marketcap : $803,598,326.00
  • zcashZcash(ZEC)$68.44-1.93%
    ZCASH
    24H : -1.93%
    Volume : $947,327,265.00
    Marketcap : $745,732,814.00
  • wavesWaves(WAVES)$5.86-4.33%
    WAVES
    24H : -4.33%
    Volume : $120,971,355.00
    Marketcap : $591,591,338.00
  • paxos-standardPaxos Standard(PAX)$1.010.260%
    PAXOS STANDARD
    24H : 0.260%
    Volume : $173,023,222.00
    Marketcap : $502,698,247.00
  • omisegoOMG Network(OMG)$3.58-2.93%
    OMG NETWORK
    24H : -2.93%
    Volume : $557,913,355.00
    Marketcap : $502,220,155.00
  • ontologyOntology(ONT)$0.559-2.29%
    ONTOLOGY
    24H : -2.29%
    Volume : $200,265,720.00
    Marketcap : $452,236,065.00
  • basic-attention-tokenBasic Attention Token(BAT)$0.265-2.23%
    BASIC ATTENTION TOKEN
    24H : -2.23%
    Volume : $244,534,326.00
    Marketcap : $392,367,039.00
  • algorandAlgorand(ALGO)$0.475-3.58%
    ALGORAND
    24H : -3.58%
    Volume : $338,872,075.00
    Marketcap : $371,783,465.00
  • iconICON(ICX)$0.601-0.55%
    ICON
    24H : -0.55%
    Volume : $72,920,218.00
    Marketcap : $354,232,822.00
  • 0x0x(ZRX)$0.459-5.79%
    0X
    24H : -5.79%
    Volume : $144,564,035.00
    Marketcap : $344,513,470.00
  • qtumQtum(QTUM)$2.93-1.37%
    QTUM
    24H : -1.37%
    Volume : $410,415,168.00
    Marketcap : $304,544,564.00
  • bitcoin-goldBitcoin Gold(BTG)$11.4511.65%
    BITCOIN GOLD
    24H : 11.65%
    Volume : $32,415,757.00
    Marketcap : $200,929,438.00
  • liskLisk(LSK)$1.33-3.14%
    LISK
    24H : -3.14%
    Volume : $13,882,010.00
    Marketcap : $190,732,519.00
  • ravencoinRavencoin(RVN)$0.015-4.26%
    RAVENCOIN
    24H : -4.26%
    Volume : $18,964,398.00
    Marketcap : $121,271,248.00
  • monacoinMonaCoin(MONA)$1.607.43%
    MONACOIN
    24H : 7.43%
    Volume : $25,487,195.00
    Marketcap : $117,510,151.00
  • bytomBytom(BTM)$0.0670.830%
    BYTOM
    24H : 0.830%
    Volume : $37,950,650.00
    Marketcap : $110,519,366.00
  • augurAugur(REP)$19.38-3.59%
    AUGUR
    24H : -3.59%
    Volume : $21,321,109.00
    Marketcap : $109,523,211.00
  • bitcoin-diamondBitcoin Diamond(BCD)$0.521-0.92%
    BITCOIN DIAMOND
    24H : -0.92%
    Volume : $2,422,649.00
    Marketcap : $98,501,296.00
Cryptotelegraph
  • bitcoin
    BTC$41,446.0010.83%
  • ethereum
    ETH$1,265.555.74%
  • ripple
    XRP$0.3386.23%
  • litecoin
    LTC$173.294.75%
  • bitcoin-cash
    BCH$449.601.46%
    • News
      • Bitcoin News
      • Ethereum News
      • Crypto News
      • Crypto Technology
      • Analysis
      • Blockchain News
      • Industry News
      • ICO News
    • Market Cap
    • Exchanges
    • ICOs
    • Videos
      • Bitcoin Videos
      • Ethereum Videos
      • Altcoin Videos
      • Blockchain Videos
      • ICO Videos
    • Submit Press Release
    • Contact Us
    No Result
    View All Result
    Cryptotelegraph.com
    No Result
    View All Result
    Home News Ethereum News

    Ethereum “Anti-Network Effect” Shows “DeFi Has Outgrown” The Altcoin

    Andy K by Andy K
    January 8, 2021
    in Ethereum News
    Reading Time: 4min read
    3k 30
    0
    Ethereum “Anti-Network Effect” Shows “DeFi Has Outgrown” The Altcoin
    4.1k
    SHARES
    33.8k
    VIEWS
    Share on FacebookShare on Twitter

    Ethereum broke out over the weekend and looks primed to follow in Bitcoin’s footsteps by shattering its former all-time high and soaring far higher. But while Bitcoin prices climb, there has been minimal impact on the underlying network, nor has there been a sizable increase in fees that characterized the 2017 peak.

    Meanwhile, ETH gas fees are spiking again as interest turns from Bitcoin to DeFi, and one analyst says that it has, unfortunately, put a spotlight on Ethereum’s “anti-network effect” and how much decentralized finance has outgrown the smart contract focused network.

    Investment Firm Managing Partner: DeFi Has Outgrown Ethereum

    Ethereum was the first crypto asset to explode in 2020, resulting in the first major really to start the year. The top of that run was in when pandemic-related lockdowns first began, causing widespread panic and the Black Thursday selloff.


    Reloads and free spins available every day, for every player, in mBitcasino Crypto Autumn Bonanza! Play Now!

    After a few months of stagnancy due to leftover fright, a sudden boom driven by decentralized finance revived not only Ethereum, but it helped to turn sentiment bullish enough for Bitcoin to break out as well.

    Related Reading | Ethereum Transaction Fees Rising Hints At DeFi Season Round Two

    The summer of DeFi only came to an end when ETH gas fees reached prices so high, it made it so using the tech didn’t make much sense financially.

    But when using DeFi becomes hindered by the network these applications live on, it is a sign that the subsector of crypto has outgrown Ethereum, according to Managing Partner of Multicoin Capital, Tushar Jain.

    ethereum defi

    ethereum defi

    Ethereum has had a major breakout, but still is holding DeFi back | Source: ETHUSD on TradingView.com

    How Soaring ETH Gas Fees Hold Back The Category Of Crypto

    Jain says that “Ethereum is suffering from anti-network effects.” He explains the situation as a scenario where each “new user makes the system less usable for other users by crowding them out.”

    Related articles

    Sell Setup Triggers On Ethereum Following Monster 50% Two-Day Surge

    Sell Setup Triggers On Ethereum Following Monster 50% Two-Day Surge

    January 8, 2021
    33.8k
    TA: Ethereum Struggles Near $1,100, Why Dips Could Be Limited Below $950

    TA: Ethereum Struggles Near $1,100, Why Dips Could Be Limited Below $950

    January 8, 2021
    33.8k

    The sudden increase in ETH gas fees comes from the slew of activity on the automated market-making platform Uniswap. Uniswap was the darling of the DeFi trend over the summer months and is the platform of choice to swap ERC20 tokens.

    Related Reading | Analyst: Post Bitcoin, Traditional Finance Will Flock To DeFi, Not Ethereum

    But because ETH gas currently costs nearly $100 per trade, according to Jain, network utility is taking a hit. The more users that flock to DeFi, the worse and more expensive this situation will get.

    Ethereum scaling is one solution, but ultimately, another smart contract platform or one of the many “Ethereum killers” from past bull runs, could finally capture some market share from the currently top-ranked <span class="wpg-tooltip-term-title">Altcoin</span></h3><div class="wpg-tooltip-content">Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/altcoin/">» Read more</a><p></div>”>altcoin.

    Featured image from Deposit Photos, Charts from TradingView.com
    Tags: cryptoDeFiETHethbtcethereumethusdETHUSDTUniswap

    Read More From Original Source

    Tags: CryptoDeFiETHethbtcethusdethusdtuniswap
    Share1622Tweet1014
    Andy K

    Andy K

    Andy is a former Forex Trader who got involved in the crypto industry early January 2013. Since then Andy has been writing about cryptocurrencies and blockchain technology within various online crypto news publications. He is also one of the main contributors to Cryptotelegraph.com

    Fun Fact : Andy's nickname in the office is 'Crypto Head' due to a small 'bitcoin' tattoo behind his left ear (now that's dedication to the industry)

    Related Posts

    Sell Setup Triggers On Ethereum Following Monster 50% Two-Day Surge

    Sell Setup Triggers On Ethereum Following Monster 50% Two-Day Surge

    by Andy K
    January 8, 2021
    0
    33.8k

    In just 48 hours, Ethereum rocketed over 50% from $770 to roughly $1140 at last night’s overnight high. The massive...

    TA: Ethereum Struggles Near $1,100, Why Dips Could Be Limited Below $950

    TA: Ethereum Struggles Near $1,100, Why Dips Could Be Limited Below $950

    by Andy K
    January 8, 2021
    0
    33.8k

    Ethereum corrected lower sharply from a new all-time high at $1,166 against the US Dollar. ETH price remained well bid...

    SushiSwap (SUSHI) Drops 14% as Ethereum Tumbles Under $1,000

    SushiSwap (SUSHI) Drops 14% as Ethereum Tumbles Under $1,000

    by Andy K
    January 8, 2021
    0
    33.8k

    SushiSwap (SUSHI) has dropped 14% in the past 24 hours as Ethereum has slipped lower. The leading decentralized finance-focused cryptocurrency...

    This Eerie Ethereum Fractal Suggests The Top Is In… For Now

    This Eerie Ethereum Fractal Suggests The Top Is In… For Now

    by Andy K
    January 8, 2021
    0
    33.8k

    Once Bitcoin finally began to cool off, capital began to flow into Ethereum causing an enormous breakout. The rapid rise...

    TA: Ethereum Prints Bullish Break: Why ETH Could Surge Above $1,200

    TA: Ethereum Prints Bullish Break: Why ETH Could Surge Above $1,200

    by Andy K
    January 8, 2021
    0
    33.8k

    Ethereum started a fresh increase above $1,050 against the US Dollar. ETH price is showing positive signs and it is...

    Load More

    Discussion about this post

    Cryptotelegraph.com

    The Cryptotelegraph is a Crypto News Magazine ‘Startup’ that hunts high and low to compile the very latest crypto news and reviews from around the web, whilst at the same time producing thought provoking articles and interpretations surrounding the cryptocurrency market today!

    Read More

    Crypto News

    Ethereum “Anti-Network Effect” Shows “DeFi Has Outgrown” The Altcoin

    Sell Setup Triggers On Ethereum Following Monster 50% Two-Day Surge

    TA: Ethereum Struggles Near $1,100, Why Dips Could Be Limited Below $950

    SushiSwap (SUSHI) Drops 14% as Ethereum Tumbles Under $1,000

    This Eerie Ethereum Fractal Suggests The Top Is In… For Now

    TA: Ethereum Prints Bullish Break: Why ETH Could Surge Above $1,200

    Donations Welcome

    Bitcoin Address : 3AhxNswMkD5tjJJ544NRCwWhCDXHJ5GTzq
    Ethereum Address : 0x9627FB741C19e1a70E7006F2B0D0c26d14AA1816
    Bitcoin Cash Address : qq93an6n9unnu496vpcx684zekkmn4yk6g79kllf7d
    Litecoin Address : MKVphBBJkBbjSh4D6aFLds9XHE1rnS9iHW

    © Copyrights 2019 Cryptotelegraph.com. All Rights Reserved.

    Contact    About    Privacy & Cookie Policy

    No Result
    View All Result
    • News
      • Bitcoin News
      • Ethereum News
      • Crypto News
      • Crypto Technology
      • Analysis
      • Blockchain News
      • Industry News
      • ICO News
    • Market Cap
    • Exchanges
    • ICOs
    • Videos
      • Bitcoin Videos
      • Ethereum Videos
      • Altcoin Videos
      • Blockchain Videos
      • ICO Videos
    • Submit Press Release
    • Contact Us

    © Cryptotelegraph.com

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.