{"id":558337,"date":"2023-10-31T07:28:10","date_gmt":"2023-10-31T07:28:10","guid":{"rendered":"https:\/\/wncen.com\/?p=558337"},"modified":"2023-10-31T07:28:10","modified_gmt":"2023-10-31T07:28:10","slug":"ethereum-defi-activities-on-a-roll-will-it-drive-a-bullish-price-surge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-defi-activities-on-a-roll-will-it-drive-a-bullish-price-surge\/","title":{"rendered":"Ethereum DeFi Activities On A Roll: Will It Drive A Bullish Price Surge?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Ethereum, often hailed as the pioneer of smart contracts, has cemented its position as the frontrunner in the world of decentralized finance (DeFi) and blockchain technology. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Recent data reveals that Ethereum was the primary catalyst behind the surge in crypto Total Value Locked (TVL), amassing an impressive 75% of all deposited funds during the past week.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ethereum&#8217;s journey began with the groundbreaking innovation of smart contracts. It was the first protocol to introduce this game-changing technology, enabling the creation of self-executing contracts with predefined rules and conditions. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This innovation laid the foundation for the entire DeFi ecosystem, as it provided the framework for decentralized applications and automated transactions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">One of the most compelling indicators of Ethereum&#8217;s continued dominance is the recent surge in decentralized exchange (DEX) volumes. <\/span><\/p>\n<p><span style=\"font-weight: 400\">In the past week, <\/span><a href=\"https:\/\/twitter.com\/ScopeProtocol\/status\/17036196\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Ethereum recorded a historic milestone<\/span><\/a><span style=\"font-weight: 400\">, with over $9 billion in transactions settled on its network. This marks the highest weekly volume since mid-June and underscores the platform&#8217;s pivotal role in facilitating peer-to-peer trading and liquidity provision.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">.<a href=\"https:\/\/twitter.com\/ethereum?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">@ethereum<\/a> dominated this week&#8217;s TVL growth rankings, accounting for $6.68B of the total $8.76B TVL growth across crypto last week. <a href=\"https:\/\/t.co\/45rqb3Seml\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/45rqb3Seml<\/a><\/p>\n<p>\u2014 0xScope (\ud83e\udeac . \ud83e\udeac) (@ScopeProtocol) <a href=\"https:\/\/twitter.com\/ScopeProtocol\/status\/17036196?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">October 30, 2023<\/a><\/p><\/blockquote>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/artificial-intelligence-crypto-boom-whats-behind-the-double-digit-surge\/\" target=\"_blank\" rel=\"noopener \">Artificial Intelligence Crypto Boom: What\u2019s Behind The Double-Digit Surge?<\/a><\/div>\n<h2><strong>ETH Price Dynamics And The BlackRock Factor<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">As Ethereum continues to take center stage in the crypto landscape, the question on many investors&#8217; minds is how this data will impact the price of ETH. Currently, according to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, Ethereum is trading at $1,798, showing a modest 0.6% increase in the last 24 hours, with a minor 0.9% decrease over the past seven days.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Venture capitalist Arthur Cheong has provided intriguing insights into the potential price trajectory of Ethereum. Cheong, the founder of DeFiance Capital, suggests that ETH could experience a significant rally if a specific scenario unfolds. <\/span><\/p>\n<p><span style=\"font-weight: 400\">He points to BlackRock, a financial giant, and its application for a spot Bitcoin (BTC) exchange-traded fund (ETF). If BlackRock&#8217;s BTC ETF application is successful, it could pave the way for a similar Ethereum ETF application in the future.<\/span><\/p>\n<p><span style=\"font-weight: 400\">&#8220;ETH is probably the best six to 12 month long among large-cap assets now when BlackRock applies for a spot ETH ETF six to 12 months down the road,\u201d <\/span><a href=\"https:\/\/twitter.com\/Arthur_0x\/status\/72832466\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Cheong wrote<\/span><\/a><span style=\"font-weight: 400\"> on the social media platform X. <\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">ETH is probably the best 6 to 12m long among large cap assets now when BlackRock applies for spot ETH ETF 6 to 12m down the road. Ethereum&#8217;s ESG friendliness and native staking yield will be appealing to institutional investors should BTC spot ETF turn out to be a success.<\/p>\n<p>\u2014 Arthur (@Arthur_0x) <a href=\"https:\/\/twitter.com\/Arthur_0x\/status\/72832466?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">October 24, 2023<\/a><\/p><\/blockquote>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum-resilient-above-1800-pre-fomc-meeting-vital-levels-to-watch\/\" target=\"_blank\" rel=\"noopener \">Ethereum Resilient Above $1,800 Pre-FOMC Meeting \u2013 Details<\/a><\/div>\n<pre style=\"text-align: center\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/XEhevMO2\/\" width=\"1274\" height=\"569\">ETHUSD currently trading at $1798.3 on the daily chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ZUMCtHpo\/?symbol=CRYPTOCAP:XRP\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h2><strong>Implications And Future Prospects<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">The significance of Ethereum&#8217;s role in DeFi and blockchain technology cannot be overstated. Its smart contract functionality revolutionized the crypto space and enabled the birth of countless decentralized applications and platforms. The recent surge in DEX volumes underscores its pivotal role in facilitating crypto trading.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As the crypto world closely watches developments surrounding <\/span><a href=\"https:\/\/www.cnbc.com\/2023\/10\/30\/watch-now-etf-edge-with-blackrocks-cio-of-global-fixed-income-and-head-of-ishares.html\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">BlackRock&#8217;s potential ETFs<\/span><\/a><span style=\"font-weight: 400\">, Ethereum&#8217;s future appears promising. Should a BTC spot ETF materialize and pave the way for an Ethereum ETF, institutional investors may flock to Ethereum for its ESG attributes and staking yield opportunities.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from iStock<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum, often hailed as the pioneer of smart contracts, has cemented its position as the frontrunner in the world of decentralized finance (DeFi) and blockchain technology. Recent data reveals that Ethereum was the primary catalyst behind the surge in crypto Total Value Locked (TVL), amassing an impressive 75% of all deposited funds during the past week. Ethereum&#8217;s journey began with the groundbreaking innovation of smart contracts. It was the first protocol to introduce this game-changing technology, enabling the creation of self-executing contracts with predefined rules and conditions. This innovation laid the foundation for the entire DeFi ecosystem, as it provided the framework for decentralized applications and automated transactions. One of the most compelling indicators of Ethereum&#8217;s continued dominance is the recent surge in decentralized exchange (DEX) volumes. In the past week, Ethereum recorded a historic milestone, with over $9 billion in transactions settled on its network. This marks the highest weekly volume since mid-June and underscores the platform&#8217;s pivotal role in facilitating peer-to-peer trading and liquidity provision. .@ethereum dominated this week&#8217;s TVL growth rankings, accounting for $6.68B of the total $8.76B TVL growth across crypto last week. pic.twitter.com\/45rqb3Seml \u2014 0xScope (\ud83e\udeac . \ud83e\udeac) (@ScopeProtocol) October 30, 2023 Related Reading: Artificial Intelligence Crypto Boom: What\u2019s Behind The Double-Digit Surge? ETH Price Dynamics And The BlackRock Factor As Ethereum continues to take center stage in the crypto landscape, the question on many investors&#8217; minds is how this data will impact the price of ETH. Currently, according to CoinGecko, Ethereum is trading at $1,798, showing a modest 0.6% increase in the last 24 hours, with a minor 0.9% decrease over the past seven days. Venture capitalist Arthur Cheong has provided intriguing insights into the potential price trajectory of Ethereum. Cheong, the founder of DeFiance Capital, suggests that ETH could experience a significant rally if a specific scenario unfolds. He points to BlackRock, a financial giant, and its application for a spot Bitcoin (BTC) exchange-traded fund (ETF). If BlackRock&#8217;s BTC ETF application is successful, it could pave the way for a similar Ethereum ETF application in the future. &#8220;ETH is probably the best six to 12 month long among large-cap assets now when BlackRock applies for a spot ETH ETF six to 12 months down the road,\u201d Cheong wrote on the social media platform X. ETH is probably the best 6 to 12m long among large cap assets now when BlackRock applies for spot ETH ETF 6 to 12m down the road. Ethereum&#8217;s ESG friendliness and native staking yield will be appealing to institutional investors should BTC spot ETF turn out to be a success. \u2014 Arthur (@Arthur_0x) October 24, 2023 Related Reading: Ethereum Resilient Above $1,800 Pre-FOMC Meeting \u2013 Details ETHUSD currently trading at $1798.3 on the daily chart: TradingView.com Implications And Future Prospects The significance of Ethereum&#8217;s role in DeFi and blockchain technology cannot be overstated. Its smart contract functionality revolutionized the crypto space and enabled the birth of countless decentralized applications and platforms. The recent surge in DEX volumes underscores its pivotal role in facilitating crypto trading. As the crypto world closely watches developments surrounding BlackRock&#8217;s potential ETFs, Ethereum&#8217;s future appears promising. Should a BTC spot ETF materialize and pave the way for an Ethereum ETF, institutional investors may flock to Ethereum for its ESG attributes and staking yield opportunities. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock<\/p>\n","protected":false},"author":557,"featured_media":558341,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625],"tags":[142,1144,1944,16163,1946,8686,4735],"class_list":["post-558337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","tag-altcoins","tag-btcusd","tag-etf","tag-eth-price","tag-ethereum","tag-ethusd","tag-price-action"],"acf":[],"yoast_head":"\n<title>Ethereum DeFi Activities Rise: Will It Drive A Bullish Price Surge?<\/title>\n<meta name=\"description\" content=\"Ethereum, often hailed as the pioneer of smart contracts, has cemented its position as the frontrunner in the world of decentralized finance (DeFi) and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum DeFi Activities On A Roll: Will It Drive A Bullish Price Surge?","url":"http:\/\/wncen.com\/news\/ethereum-defi-activities-on-a-roll-will-it-drive-a-bullish-price-surge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-defi-activities-on-a-roll-will-it-drive-a-bullish-price-surge\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-143.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-143.png?fit=434%2C328"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","etf","eth price","ethereum","ethusd","price action"],"dateCreated":"2023-10-31T07:28:10Z","datePublished":"2023-10-31T07:28:10Z","dateModified":"2023-10-31T07:28:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum DeFi Activities On A Roll: Will It Drive A Bullish Price Surge?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-defi-activities-on-a-roll-will-it-drive-a-bullish-price-surge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-defi-activities-on-a-roll-will-it-drive-a-bullish-price-surge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-143.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-143.png?fit=434%2C328\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"etf\",\"eth price\",\"ethereum\",\"ethusd\",\"price action\"],\"dateCreated\":\"2023-10-31T07:28:10Z\",\"datePublished\":\"2023-10-31T07:28:10Z\",\"dateModified\":\"2023-10-31T07:28:10Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-143.png?fit=434%2C328","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/558337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=558337"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/558337\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/558341"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=558337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=558337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=558337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}