We always heard about this Defi thing, and many believed the market has been overly hype, while some believed that it really did worked. To proved that DeFi right now is trending, take a simple search and type #DeFi.
Moreover, ethereum coin is considered to be the main coin in which you could join this defi craze. Cause they are ERC-20 based coins.
This thing will give us the idea that with this DeFi dominance, ETH should be seen quite significant price increased. However, as of this time of writing, it only resembles the price of BTC as per price action (correlated price to BTC). I was thinking that with this increased of DeFi trend, Eth will react in behalf.
Well, what do you think, fellow traders?
Very possible that Eth will surge because of the defi stimulus. Let me just explain this to you in simple words. As defi trend is growing more and more everyday and more and more eth is getting locked up as a result the supply of eth in the market will reduce this reduction in supply will cause scarcity in the market and as a result the price will grow i expect Eth to be back over 1k in few more months.