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Crypto research firm: DeFi, not CryptoKitties, is giving “real value” to Ethereum

Crypto research firm: DeFi, not CryptoKitties, is giving “real value” to Ethereum | CryptoSlate

In 2017 and 2018, Ethereum seemingly had one purpose: it was a platform for crypto entrepreneurs to launch initial coin offerings. As Avi Felman, the head of trading at BlockTower Capital, recently wrote on Twitter: “The ETH all time high price [of $1,400] is likely a red herring, and was driven by a very specific dynamic: buy ETH to place in ICOs, no sell pressure because ICO treasuries didn’t think about that.”







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