Ethereum
$177.39 2.87%
ETH · 6w

DeFi will be huge in 2020, but how will it affect ETH?

The future of finance is evolving and Ethereum based DeFi is at the forefront of it. This year has seen explosive growth in decentralized finance despite bearish crypto asset performance. 2020 is set to be even bigger with bold predictions of where DeFi will go next.2020 Could Be Huge for DeFiDecentralized finance has literally exploded this year. It offers a unique way to earn interest on digital assets without a middleman taking a cut. With the current traditional banking system on the verge of collapse, and interest rates going into negative territory, savers are getting punished on a grand scale.DeFi is the solution as a deposit in Ethereum or a stablecoin such as Dai can earn impressive interest rates on some platforms. Just this week new records have been set for the amount of ETH locked up in DeFi.According to defipulse.com the current amount of ETH locked in DeFi is at an all-time high of over 2.7 million. Dai is also at a peak with 30 million locked away earning interest. In USD terms, the figures are not far off their all-time highs with $665 million at the moment.Industry advisers Blockchain Capital have predicted that DeFi will continue to grow in 2020 and could be worth $5 billion. On a not so positive note it added that the fledgling industry could come under the scrutiny of regulators as it currently does not require any KYC/AML procedures.11) Lastly, our team shares some bold predictions for the New Year! pic.twitter.com/f7xyaYJSmP— Blockchain Capital (@blockchaincap) December 12, 2019 Next year is likely to herald in a number of positive developments for the DeFi ecosystem. According to a recent defipulse blog post privacy and anonymity solutions using zero knowledge are likely to improve in 2020 as further development on the Ethereum network proceeds.Ethereum 2.0 Staking OpportunitiesDecentralized exchanges are also likely to grow next year and efficient non-custodial financial tools will continue to attract more traders away...
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