The past few days and weeks have seen Ethereum’s decentralized finance ecosystem erupt higher.
As Camila Russo, a former Bloomberg journalist turned Ethereum publicist, accentuated this when she noted on June 19th that the past week has seen the value of tokens locked in DeFi applications surge by 40% to $1.4 billion.
Some are skeptical that the gains seen in DeFi will spill over to ETH. Cryptocurrency investor and commentator Humboldt Capital, for instance, wrote on June 14th:
“An investment thesis for ETH centered on continued growth of DeFi, is like advocating to invest in the S&P 500 vs just the Tech sector. So far, the biggest Achilles’ heel for ETH is the fact you don’t need to invest in the protocol layer, you can just invest in the best apps.”
That’s to say, they believe that just because DeFi sees adoption doesn’t mean ETH will rally.
But, a prominent fund manager begs to differ. Read More