There are different developments in the Ethereum network and this may be a proof that the crypto market is maturing.
#Decentralized #finance (DeFi) has created a unique lion in the crypto money ecosystem, and although the increases in this area do not affect the Ethereum (ETH) price, DeFi tokens are having an amazing year.
#Ethereum #Network and #ETH
According to the data compiled and shared from The Defiant's Camila Russo from Etherscan, the total market value of all ERC20 tokens working on Ethereum has exceeded $ 33 billion. The reason for this number is important is that the market value of ETH, which is the token of the Ethereum network, is approximately $ 27 billion. So the total market value of ERC-20 tokens in the Etheruem network has outstripped the market value of the local token ETH.
When we look at this data, it is another interesting point that the value of the token, which enables the Ethereum network to be maintained, is lower than the value of the tokens formed around ETH and there are no tokens that use the ERC721 standard such as CryptoKitties.
In addition , the most valuable of all applications running on Ethereum are those related to decentralized finance right now. DeFi tokens are currently growing much faster than Bitcoin or any other cryptocurrency in the market. It is understood that DeFi assets, which are currently the most popular of investors, are stock exchange tokens and high-risk dapps.
Blockchain and Crypto
In fact, depending on the perspective, this situation can be considered as a sign that the market is mature. Ethereum, for example , can prove its worth as a decentralized, global supercomputer on which various applications are built.
In other words, Ethereum 'un immeasurable value as a technology with the most likely ETH market value. After all, ETH is only part of a complex ecosystem that continues to evolve. Therefore, the growing Ethereum network as a whole can be considered a positive development for the market.