DeFi Lending Exploded in Q1 2021, Focus on Ethereum’s London Hard Fork

By April 27, 2021DApps
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DeFi Lending Exploded in Q1 2021, Focus on Ethereum's London Hard Fork
DeFi Lending Exploded in Q1 2021, Focus on Ethereum's London Hard Fork

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Focus on Ethereum’s London Hard Fork and Gas Fees Slashing

Ethereum losses are not as deep. Trading at around $2.28k as of writing, the uptrend remains. Buyers may, after all, emerge victorious, shaking off determined sellers.

The altcoin season is still valid. If that’s the case, analysts expect dominance to grow and Bitcoin’s shrink in tandem.

Top catalysts for this encouraging shift are events ahead, especially regarding network enhancement and the eventual merger of Eth1 and Eth2, via Eth1.5—marking the end of mining.

In the recently concluded core developers meeting, the team is scheduling London for July 2021. At the same time, they won’t want to delay the merger.

As for London timelines, this is roughly what we are going for. We didn't want to set blocks on this call given that code is still not merged in clients and we are still waiting on an EIP, but the dates should be pretty fixed, and blocks should come during the next call. pic.twitter.com/sD5ZqtwvvA

— Tim Beiko | timbeiko.eth ☀️ (@TimBeiko) April 23, 2021

Accordingly, some EIPs—like 2677—won’t be included in the upcoming hard fork.

Meanwhile, EIP 3403—previously said to be a security risk would be replaced with a new proposal next week.

The ultimate goal will be to reduce Gas fees and improve user experience.

DeFi Lending Went Parabolic in Q1 2021

Nothing is stopping DeFi at the moment. From lending, trading, insurance, and so much more, the sub-sector is a marvel by itself.

However, new details from Messari show that DeFi lending in Q1 2021 went parabolic.

The lending sector went parabolic during the first quarter of 2021.

DeFi’s most popular lending platforms reached $25 billion, the highest the sector has ever seen, including

— Messari (@MessariCrypto) April 23, 2021

DeFi users flocked to dApps like Aave, Maker, and Compound, explaining their respective tokens shot to the moon in Q1 2021.

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