Data from the analytical company Masari show that the total value of assets in the Ethereum ecosystem has exceeded $ 100 billion.
According to the Daily Hoodel, in his recent report, Masari, while pointing to the upward trend in value on the smart contracts platform, stated that the growth of the market value of ERC20-based tokens has started since 2017. Stable coins, DeFi currencies, application tokens and trading tokens can be considered as assets that work on the Ethereum platform. Ryan Watkins, senior analyst at Masari Research, emphasized the growth of these tokens, adding that in July we saw a new record in this field. He continued:
I mentioned earlier that the market value of ERC20 tokens had reached the ether market value for the first time, which is a confirmation of this upward trend.
This trend has continued from the beginning until now; This is because the market value of ERC20-based tokens is currently slightly higher than the market value of ether.
According to Watkins, the growth rate of all ERC20-based tokens has been unprecedented in the last two years. "It simply came to our notice then.
In the third quarter of this year, for the first time since 2018 and the explosion of initial coin offerings, the total value of all Ethereum network assets exceeded $ 100 billion.
[On the other hand] the total value of ERC20-based tokens is much higher than the market value of ether.
Watkins believes that the growth of the value of the Ethereum network raises many questions about the future of the market number two currency. One of these cases is the sluggish growth of Ethereum prices compared to the explosive growth of Defy. Watkins, on the other hand, points out that the release of some tokens, such as Tetra, on the Ethereum network may have adverse effects on the network.
Mike McGlone, a market analyst at Bloomberg, said in a recent statement that Ethereum would lose its second place in the digital currency market and be replaced by Tetra. He added:
According to us (Bloomberg Research Team), the sharp rise in the market value of stable coins indicates that sooner or later we will see the supply of national digital currencies. Reducing the acceptance of Tetra, the largest stable coin in the market, requires great action. Based on the declining trend in digital currency prices that began in 2019, it can be said that the gap between the value of the tether market and the Ether market value is a little less than a year.
