In crises, winners are also born. Cryptocurrency enthusiasts have to absorb this mindset more than ever. Because the broad cryptocurrency market has been dominated by negative sentiment. The cryptocurrency crash destroyed a large portion of the market capitalization in the past few days. The global cryptocurrency is currently worth less than $1.2 trillion.
The second most valuable cryptocurrency, Ethereum, has held up a little better than most other cryptocurrencies over the past seven days. However, price losses now add up to more than a third. Anxiety increases. Sale is in full swing.
While many cryptocurrency investors act with fear, the crypto crash can also be interpreted differently – that is, as a huge opportunity for all investors who are convinced of the long-term potential of digital currencies and especially Ethereum.
Ethereum price crash by more than 20%
In the past month, the price of Ethereum corrected by more than a third. However, the selling has accelerated over the past 24 hours. Here, price losses are already adding up to more than 20%, which means that Ethereum is currently underperforming than the entire crypto market. There is currently ether for about $1,880. This means that the psychological limit of $2000 has been below the par recently.
Cryptocurrency crash boosts Ethereum sell-off
But there is a lack of fundamental news affecting the Ethereum network. As there are no concrete reasons for the strong selloff in Ethereum, it is due to weak sentiment in the entire crypto market. The collapse of the Terra Stablecoin UST platform has shaken investor confidence in the future potential of cryptocurrencies. In addition, there is high inflation and fears that interest rates will rise even more. Tech stocks and cryptocurrencies are not equally popular in early May 2022.
NFT adaptation on Instagram, incorporation is progressing
In fact, there was positive news about Ethereum a few days ago. Because the Ethereum network currently collects more than 90% of the NFT market size on its blockchain. Instagram, the world’s leading social media platform, has started offering NFTs as a pilot project in the USA. Users can now post and share NFTs on Instagram. As the institution progresses, digital art through irreplaceable symbols enters people’s daily lives.
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Ethereum 2.0 as a guarantee of future strength
At the same time, 2022 should indeed be successful for the Ethereum network. Because the long-awaited second edition should come true this year. With Ethereum 2.0, now known as the consensus layer, one wants to position the blockchain in a future-oriented manner. High gas charges and slow speeds may be a thing of the past. The dwindling market shares from the past few years should end soon.
Buying Ethereum Now?
As the leading blockchain for smart contracts, decentralized finance, and non-fungible tokens, Ethereum can benefit from multiple crypto trends. Quite a few experts see huge price potential and trust Ethereum to achieve above-average price growth thanks to DeFi.
After the collapse of Ethereum, the price of ether has fallen by about two-thirds from its all-time high. Anyone who acts boldly now can make a market-beating return with their investments in Ether.
DeFi Coin as an Exciting Addition to Cryptocurrency Wallet
Decentralized finance disrupts traditional finance. DeFi projects will continue to secure above-average returns in the crypto market in the future. However, it may make sense to diversify your cryptocurrency portfolio and also buy smaller coins with a higher chance of return.
Despite a strong correction in the past 24 hours, this DeFi token has recorded over 200% performance over the past month. DeFi Coin (DEFC) has much better momentum than the market as a whole. Driven by the launch of its own DEX DeFi Swap, this development can now continue.
However, DeFi is still about 80% below its all-time high since July 2021. But a lot has happened since then. DeFi Coin is technically mature and wants to offer many more DeFi services in the future. So why not buy DeFi now and make your crypto wallet around decentralized finance more diversified and promising?