ETHEREUM GOLDEN CROSS APPEARS AS DAI SAVINGS RATE APPROACHES DOUBLE FIGURES

Posted 05 February, 2020

ETHEREUM GOLDEN CROSS

 

Ethereum prices themselves were able to keep up to $ 190 today, after a slight drop overnight. ETH is close to overcoming the psychological barrier of $ 200, which may occur before the end of the week.

Now, prices have returned to early November levels as the Gold Cross forms on the daily chart. The 50-day moving average has just hit a slower 200-day, and will surpass it today.

This is a steady signal of a trend change, which was last seen in 2019. In April, when the price of Ethereum was similar. After the cross, 90 percent of the price rose above $ 350.

 

 

ethereum

ETH prices 1 year – Tradingview.com

 

 

ETH BASED DEFI SAVINGS SURGING

 

There are some things Ethereum should deal with right now, and DeFi is one of them. Although this financial freedom is still in its infancy, it continues to attract investment at particularly attractive savings rates.

Dai is an Ethereum-based cryptocurrency coin exchange. He offers a savings rate (DSR) based on loan and borrowing needs.

MakerDAO, which controls the mechanism, is an autonomous platform that dynamically adjusts Dai's bid to remain pegged to the dollar while maintaining its stability. Dai's issue is also controlled by anyone who wants to borrow it from the system by depositing ETH or other encryption assets as collateral.

The interest rate applied to this newly created Dai is called Stable Charge, and DSR is used to manipulate Dai's demand.

Dai's savings rate has recently increased to 8.75% for those who deposit ETH as collateral and time in Dai's smart contracts and programs like Oasis.

This completely reduces any interest rates for highway banks, most of which become negative. Based on these data, the US average was 0.09% last year. Meanwhile, President Trump has provided billions of dollars in tax credits to banks that deepen their customers' debts.

DeFi's total dollar value also reached a new high of $ 920 million as ETH prices rose. Defipulse.com also reports that 65 million Dai are blocked on the system.

 

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DeFi is gaining in popularity as people realize that they don’t need a bank to keep and earn money with their money. This growth will increase demand for Ethereum, which will lead prices in the right direction.

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