Ethereum Whales All Set To Invest In Decentralized Finance (DeFi)

  • Whales are buying huge amounts of Ethereum (ETH) for investment in Decentralised Finance(Defi).
  • Grayscale Ethereum Trust, the largest investment fund, had reportedly brought over 48% of the mined Ethereum.
  • By locking up Ether in Defi one can earn balanced returns. The total amount of Ether locked in Defi at the beginning of this year had surged to an All-Time High.

With Ethereum staking just around the corner, there is a prediction that the Ethereum price will go comparatively high. This is because Ethereum whales are buying huge amounts of ETH for investment in Decentralised Finance(Defi). 

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Grayscale Ethereum Trust, the largest investment fund, had reportedly brought over 48% of the mined Ethereum. Its website reports that it bought 756,000 ETH in 2020. This investment fund provides exposure to investors on the ETH price movements. 

With a heavy purchase that accounted for half the Ethereum, it is obvious to our understanding that large investors have recognized the potency ETH holds. And they are now seeking ETH as crypto suited for investments.

ETH locked in Defi surged to an All-Time-High This Year

And by locking up Ether in Defi one can earn balanced returns. The total amount of Ether locked in Defi at the beginning of this year had surged to an all-time high. The total value locked in Defi reached $1.2 billion in mid-February.

Furthermore, the amount of ETH investors have put in Defi increased twice as it was over the past 6 months. The amount locked currently stands at $838 million. Also bringing to notice, ETH locked in Defi’ is a criterion used to measure the traction by industry observers.

To develop a familiarity with the Decentralized Finance (Defi), its vision is to enhance a global and an open alternative to financial services today. The best platform to access these services via a smartphone is on a smart contract blockchain, such as Ethereum. Smart contracts feature empowers developers to build applications featuring advanced functionality. In other words, they are basically programs referred to as decentralized apps that run on the blockchain and execute instinctively.  

ETH Price at current accounts to $212. It has stood strong despite the COVID-19 that caused a gigantic market collision and that which brought huge volatility to its price.

Whether Eth will witness a rise in its price, only time will reveal. But as long as the Ethereum whales continue to show this trend of investments in Defi, there is no reason for despair. Also, at a time where the Ethereum staking is nearing, it is a good enough reason to be hopeful that ETH price will revolutionize.

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Umme Haanihttp://www.thecoinrepublic.com
Umme Haani is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.

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