Posted 2 years ago | by Ben Armstrong

Ethereum Found its Place in the Crypto World and Seems Unstoppable

Ethereum is pumping - it experienced an increase in value to $275 from $250 in just a matter of days with many people believing the rise is only getting started.

To learn about some of the reasons behind this trend as well as Bitboy’s predictions for the Ethereum blockchain, DeFi, and Altcoins in general, make sure to check the latest YouTube video.

Ethereum Found its Killer Application

Ethereum’s price has been on the rise with a spike to $280 in the last few days due to the booming activity in the Decentralize Finance (DeFi) sector as most DeFi apps use the Ethereum blockchain.

With projects like Aave, Compound, Maker, Ampleforth, and others, Ethereum has now found its apparent perfect application, as most technological innovations do at some point.

Ethereum was created as a decentralized smart contract platform, a special kind of digital contract that fires off in an automated manner when the obligations of an agreement have been met.

Now, with decentralized finance, we are seeing examples of how smart contracts come to fruition and the potential they hold for real-life applications.

The Road to the Present was not Easy

Although Ethereum was not created for decentralized finance, it took the network and its users a long time to get to this point with 2017 looking as if Ethereum had found its perfect use case - launching tokens.

Several major crypto projects were launched on Ethereum’s platform, including EOS, Cardano, TRON, VeChain, BNB, and countless others.

All of these projects used Ethereum to kickstart their projects and get them off the ground, moving away from the blockchain as soon as they were able to fly on their own or failing as a project when Ethereum was unable to fulfill their needs.

The 2017 bull run resulting from the Initial Coin Offering (ICO) craze ended as a result of the launching of tokens using the Ethereum Blockchain as companies and scammers realized that all they had to do to make some money was launch an initial coin offering

With most of the money raised in ICOs never being used to write a single line of code, investors were left holding the empty bags while the people behind these projects moved to the next thing.

This led to a bear winter that saw project after project leave the Ethereum Blockchain as many users saw Ethereum as a project that could fail at any moment except when it came to enterprises.

This quickly changed in 2019 when Decentralized Finance started being used everywhere in the crypto world only to become more popular as time passed by, ultimately becoming Ethereum’s killer application.

Decentralized Finance is not an ICO Situation

While some crypto critics and Bitcoin maximalists believe that DeFi is just another one-hit-wonder and it will go back into the corner as soon as BTC starts its bull run, many factors would indicate this will not be the case.

Comparing DeFi to the ICO craze will show they can’t be looked under the same light as what broke ICOs and in turn broke the market, was centralization, the very thing that cryptocurrency and smart contract platforms were supposed to be against.

When ICOs raised millions of dollars for their tokens, that money was flowing directly to founders and people sitting at the top of these projects collecting funds, with no benefit to the community at large.

On the other hand, everyone benefits when it comes to Decentralized Finance as there is no one sitting at the top of the pyramid collecting money as the heart of decentralized finance consists of two things: automation and scarcity.

In DeFi, taking out collateralized loans is automated and only requires meeting certain qualifications to get your loan immediately as payment conditions are baked into that automation as well as removing the chance of human error or biases during the process.

In addition to automation, scarcity is driving decentralized finance right now by using supply and demand economics to increase the value benefiting people greatly mostly by allowing staking.

Ethereum is More than Decentralized Finance

In addition to Ethereum’s role in decentralized finance applications, it also has some major changes coming once it upgrades to Ethereum 2.0, such as enabling stacking for anyone holding 32 ETH.

For now, Ethereum’s price is rising due to decentralized finance in the future, once the upgrade is complete, Ethereum will also see huge price increases itself due to stakers removing Ethereum from the circulating supply to earn rewards themselves.

Ethereum 2.0’s proof of stake is sure to be revolutionary for the blockchain, but the baseline protocol project is another big piece of innovation that could prove beneficial to users and network alike.

To learn more about how DeFi and Ethereum 2.0 will benefit other altcoins and tokens, make sure to scroll up or click here to watch the latest video!

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About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g Ethereum Found its Place in the Crypto World and Seems UnstoppableBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at or contact him on Twitter @BitBoy_Crypto.