3 important indicators that will determine Ethereum price

Ethereum price could see big changes in the future.

Staking, DeFi and scaling are important indicators for the future of Ethereum.

ETH is the highest in the last period with $440 leveled up.

3 indicators that will determine the price of Ethereum

All eyes are on Bitcoin in the world of cryptocurrencies . BTC is very close to its all-time high. On the other hand, Ethereum is far from peaking where it fell, but some analysts are of the opinion that ETH outflow may be greater than BTC.. As Bitcoin pushed $16,000, Ethereum price could not catch the momentum it wanted.. The Bitcoin effect still seems to have an impact on Ethereum.

ETH rose over 8% in the past week. At the time of writing, ETH is trading at $434. However, it is in a position 70% lower than the all-time high (ATH) seen three years ago..

Here are 3 important indicators that will affect the Ethereum price with the US Presidential elections.

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Ethereum staking opportunities

ETH 2.0 deposit contract opens the door to staking opportunity for Ethereum investor. However, it is understood by the majority that the purchase will be spread over the long term.. At the time of writing, 33,000 ETH has been staked, worth approximately $14 million at today’s price.

At the moment, the validators in the staking procedure are busy setting up their own equipment.. Early staking seems like a pretty complicated business.. Therefore, it is clear that this transaction will spread over time.

In addition to these, Ethereum staking is a very profitable investment in this period when negative interest rates are seen in the traditional banking system.

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DeFi fundamentals

Despite many of the things that hurt Ethereum, the network is still the backbone of DeFi. Considering that Ethereum has the largest developer team in the market, it can be said that this situation will not change much in the near future..

Ethereum’s role will likely grow as DeFi grows. There is no doubt that this will have a positive impact on the Ethereum price.

Financial contribution

This summer the DeFi boom has increased wages; The increase in fees also triggered great difficulties in small transactions.. It was clearly seen that the most important element that will prevent complaints from normal users is the development of Ethereum as a DeFi finance source..

Currently scaling solutions are being done faster than ever and it is clear that the launch of ETH 2.0 Phase 1 will make things even better..

It is not difficult to say that Ethereum’s future is bright considering the 3 important indicators we have mentioned.

A step towards Ethereum 2.0 more…

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