Ethereum is having its moment. For the last 7 days, it has gained 7.8%. The two reasons behind it are the upcoming Ethereum 2.0 which will migrate Ethereum to a proof of stake for better scalability, and the rise of DeFi (decentralized finance) platforms.
It seems safe to assume that DeFi users have faith in Ethereum and Vitalik is their god 100%, but a survey shows otherwise.
DeFi Survey
DeFi survey conducted by dex.blue shows no strong emotional attachment to Ethereum.
The result shows only 5.5% toward Ethereum on a scale of 1-10.
The options were:”I am a believer in Ethereum and Vitalik is my god” or “I would change blockchain in a heartbeat if necessary.”
Gas Fees, Not Enough Liquidity
According to the same survey, the reasons why DeFi traders are not as emotionally attached to Ethereum as one might think are:
- the asset selection (highly liquid BTC bridge) (26%)
- gas fees (16%),
- latency (5%)
Asset selection means that not being able to trade non-ERC20 tokens is one of the disadvantages of using DeFi.
You can find the complete survey responses here.
And also here to find out more about it.
Ethereum 2.0
With the upcoming Ethereum 2.0, there is a high hope for better scalability and lower transaction fees.
If this is achieved, there might be a higher chance that DeFi traders would have Vitalik as their god when the next survey comes.
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