Ethereum (ETH) set a new all-time high of $1,467.78 in the last 24 hours, its price surging as institutional investors turn bullish on the most dominant smart contract platform and most utilized blockchain for Dapps and DeFi.
Dapps are decentralized applications which are enabled by smart contracts—self-executing agreements that remove the need for a centralized intermediary. Dapps have the potential to cover a universe of use-cases, including decentralized finance (DeFi).
According to Defi Pulse, there is currently over $27 Billioin total value locked in decentralized finance. Ethereum is the most dominant smart contract platform as the most popular blockchain application for developers and projects on which to build and launch Dapps.
While Ethereum dominance in decentralized finance (DeFi) cannot be denied, the ecosystems of rival smart contract platforms—who were all at one point or another labelled as an “Ethereum Killer”— all note significant value growth as well.
