NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Investor: Ethereum DeFi Could Pump as Investors Dump “Ghost-Town” Coins

Nick Chong
Nick Chong
5 years ago
2 mins read
Ethereum defi

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Decentralized finance has been branded as one of Ethereum’s — and crypto’s — killer use cases over recent months. But from a dollar perspective, this market segment has not seen as much market penetration as its proponents would believe is “fair.”

Yet while DeFi continues to gain steam as other blockchains seemingly stall, Ethereum and its coins stand to benefit greatly, an analyst has said.

Related Reading: Over a Dozen Top Crypto Assets Are Up Over 10% Today: Here’s Why

Ethereum DeFi Could Benefit From Collapse of Smaller Altcoins

Referencing the discrepancy between the value of DeFi applications and “billion dollar ghost-town” blockchains, the head of DTC Capital Spencer Noon wrote:

“To put the difference between millions and billions into perspective: 1 million seconds is 11.5 days. 1 billion seconds is 31.7 years. With most DeFi project market caps in the millions, expect investors to start dumping billion dollar ghost-towns (ex. EOS, Stellar) for DeFi.”

To put the difference between millions and billions into perspective:

-1 million seconds is 11.5 days
-1 billion seconds is 31.7 years

With most #DeFi project market caps in the millions, expect investors to start dumping billion dollar ghost-towns (ex. EOS, Stellar) for DeFi.

— Spencer Noon 🕛 (@spencernoon) June 12, 2020

This comment was made in reference to the growing sentiment that DeFi applications will grow exponentially while other blockchains may stall (relatively speaking) due to infrastructure issues.

Importantly, this may be a long-term investment thesis. DappRadar indicates that there are only a few hundred active users for DeFi applications like Uniswap, INDEX, Synthetix, and Aave.

It’s Happening Already — Ethereum Coins Are Surging

Noon’s thesis seems to be playing out already.

Over the past month alone, Maker (MKR) has exploded higher by 120 percent. MKR is the native cryptocurrency of the MakerDAO decentralized finance app, which is widely deemed one of Ethereum’s flagship applications.

MKR’s strong performance, which has allowed it to outpace Bitcoin, Ethereum, and the altcoins Noon mentioned, comes on the back of a number of positive trends.

The cryptocurrency was listed on Coinbase, demand for MakerDAO services has spiked, and there has been an overall increase in DeFi applications.

DeFi investor also noted that “DeFi as a sector has significantly outperformed the broader crypto market” since the start of the year.

In general, DeFi as a sector has significantly outperformed the broader crypto market. Market participants are rebalancing their capital to the sector with the most traction.

YTD Return %

Outperformers

KNC: 287%
LRC: 300%
LEND: 240%
REN: 165%
BNT: 173%
GNO: 177%
AST: 186%

— Arthur (@Arthur_0x) June 7, 2020

Bitcoin Could Benefit From DeFi Boom… Temporarily

With DeFi coins strongly rallying over recent weeks, Bitcoin could outperform. Kelvin “Spartan Black” Koh, a partner at The Spartan Group and a former Goldman Sachs partner, remarked:

“We have seen a major re-rating in many of the smaller altcoins (esp DeFi ones) in the past 4-5 weeks while BTC has been range bound. At some point, the valuation of these alts will start to look frothy and the capital will flow back to BTC.”

This comment was made in reference to the concept that once altcoins become oversold, smart investors dump their digital assets for Bitcoin, which is relatively stable compared to altcoins.

Related Reading: Crypto Tidbits: Bitcoin Fails at $10k, Ethereum Coins Explode, Coinbase Looks to Add 18 Altcoins
Featured Image from Shutterstock
Investor: Ethereum DeFi Could Pump as Investors Dump "Ghost-Towns"
Tweet123Share211ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

TRON Defies Market Dip as USDT Activity and Drawdown Metric Signal Growth

TRON Defies Market Dip as USDT Activity and Drawdown Metric Signal Growth

While the broader crypto market experienced a downturn with a 2.7% decline in total market cap over the past 24...

Samuel Edyme 16 hours ago
Ethereum Price Drops After Bullish Attempt

Ethereum Price Drops After Bullish Attempt — Support Area Under Pressure

Ethereum price started a fresh decline from the $2,520 zone. ETH is now back below $2,450 and struggling to stay...

Aayush Jindal 17 hours ago
Ethereum

Ethereum In Demand: ETF Inflow Streak Extends To 7 Weeks

Institutional demand for Ethereum appears strong as spot exchange-traded funds (ETFs) have recorded seventh-straight week of inflows. US Ethereum Spot...

Keshav Verma 17 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum

The ‘MicroStrategy’ Of Ethereum Emerges: Tom Lee And Joe Lubin Raise $675M To Stack ETH

Scott Matherson 4 hours ago

Solana (SOL) a un Bivio — Rimbalzo Probabile se i 142$ Tengono

clararosati 9 hours ago
crypto bitcoin dominance altcoins

Altcoin Season Starting Soon? Analyst Predicts 37% Crash In Bitcoin Dominance

Scott Matherson 12 hours ago

Premium Sponsors

Press Releases

  • Best Crypto Payment Gateway for Trading in 2025

    3 hours ago
  • 仮想通貨プレセールで1.45百万ドル調達-人為的ミスを排除し次の100倍を目指す新鋭トークン

    ...

    6 hours ago
  • 仮想通貨おすすめ|2025年に注目のポートフォリオ向け有望銘柄4選とは?

    ...

    7 hours ago
  • 「壮大で美しい法案」成立も暗号資産税制救済なし、新しい仮想通貨が未来を切り開く

    ...

    7 hours ago
  • FUNToken

    FUNToken Now Listed on Poloniex, Strengthening Global Reach...

    7 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

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