Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: Jaya60 on June 11, 2022, 05:26:26 PM
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Terra's collapse boosted activity on Ethereum and BNB Chain. But Tron is also getting a boost from its algorithmic stablecoin that resembles... Terra.
After combing DeFiLlama, we also can identify to which specific projects some of this money is flowing.
On Ethereum, projects like Arrakis Finance (liquidity management protocol), Iron Bank (a protocol-to-protocol lending platform), and Euler (another lending platform) have been key in absorbing new money within DeFi.
As for BNB Chain, projects like pNetwork (a validator network), Wombat Exchange (a Curve-like decentralized exchange), and TokensFarm (a yield aggregator), all have thrived over the past month too.
Despite all the maximalism in this space, the wide variety of types of projects gaining traction across different chains is a healthy phenomenon.more (https://decrypt.co/102635/where-is-terras-market-share-going-ethereum-bnb-chain-and-tron)
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Other ecosystems will receive inflows from Terra, however I don't think that inflows are large or will return to the market at this time. People are selling off crypto because they fear the crypto winter will come. I used to have LUNA but will never invest in this ecosystem. Ethereum update is coming, which will be a big mover for the market.
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Seeing the condition of Terra, everyone felt at once. It's over. But Terra has been the top exchange in its time. The Terra team has an experience. That's why they have developed again. But it will take a long time to get it back in position. Much investor confidence has been shaken. about Defi ,everyone has faith in DeFi. it's slowly devlop. And now let's talk about the ETh and bnb, it is in the top 10 place. Their market is spreading fast.
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The current state of the market is absolutely bad and anything can happen suddenly and many people think that it could be like 2016. But I think the currency market will be good again and the price of all coins including Bitcoin Ethereum will increase.
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Did OP mean market cap? It went to the drain aka people cash out in the May crash.
But of course the ecosystem is still going strong and without terra, celsius, etc. that went default, small players have more potential to gain market share.
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Zoltu recommends users stake their ETH running their own Ethereum node, which Ethereum holders can do on a personal computer. "It is doable by anyone with a sufficiently good computer, electricity, and internet," he said.
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After combing DeFiLlama, we also can identify to which specific projects some of this money is flowing.
On Ethereum, projects like Arrakis Finance (liquidity management protocol), Iron Bank (a protocol-to-protocol lending platform), and Euler (another lending platform) have been key in absorbing new money within DeFi.
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But before there was ETHPoW, there was EthereumFair, another faction committed to preserving the proof-of-work model for Ethereum with ETF, formerly ETHF. But EthereumFair has garnered only a fraction of the attention of Ethereum.