The report released by the company also mentioned how the price of ETH has dropped over the past hard forks. A total of five hardforks were recorded by the report. The report shows that the market price of ETH has dropped about 19 percent since the first hardfork.The most recent of the hardforks saw the price of ETH decrease by under one percent. This decline in market value was credited to the reduction in the block reward size from 5 ETH to 3 ETH.
It was also noted that since March 3, more 2.3 million Ethereum (about 2 percent of the total supply) was present in decentralized finance apps.
A huge portion of these 2.3 million Ethereum, were said to be staked in MakerDAO smart contracts, which permit the creation and destruction of the Maker’s decentralized stablecoin Dai (DAI). The MakerDAO smart contract portion represents 98 percent of the total ETH staked DApps finance apps.
The MakerDAO smart contract is followed by a decentralized lending platform— Compound. This DApp is said to hold around 28,500 Ethereum as of March 3.The report also highlighted concerns as regards technical risks facing the Ethereun network. This risk includes the alleged centralization of Infura, the infrastructure-as-a-service arm of Ethereum-focused development company ConsenSys.
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