LATOKEN Review. Ethereum — Altcoin with Explosive Growth Potential?

Here’s another LATOKEN review, and we want to talk about Ethereum and name the fundamental factors that, in theory, might provoke the “explosive” growth of Ethereum (ETH).

Ethereum’s “London” hard fork

One of the key features can be called the recent change to the altcoin blockchain, resulting in a mechanism for burning digital coins being introduced. On August 5, the London update was released on the Ethereum network, which completely changed the mechanism for calculating transaction fees. As a result, some of the commissions that miners previously received as a reward are now burned.

Token burning is the destruction of a certain number of tokens to reduce their number in circulation. This method is used to combat inflation and increase the value of cryptocurrencies. All coin-burning operations are recorded on the blockchain as a transaction, so anyone can verify that the coins have been destroyed.

Do you want to know more about token burning? Then read the article “What is token burning, and why are developers destroying cryptocurrency?”

According to the ultrasound.money service, since the activation of the update, more than 134.8 thousand Ethereum worth $427,5 million have been burned in the altcoin network. The average burn rate per minute is 3.77 Ethereum.

The decline in net inflation

The second growth factor is the decline in net inflation in Ethereum. According to experts, at the moment, the net inflation of the altcoin in annual terms is 1.1%, while the same indicator for Bitcoin is 1.75%.

Growth of funds blocked in DeFi

Also, do not forget about the multiple growths of funds blocked in the decentralized finance (DeFi) sector. It is the third factor contributing to the rise in Ethereum’s price. On January 1 of this year, the volume of funds blocked in DeFi was $16 billion. On August 30, it was $82 billion (an increase of 412% since the beginning of the year), according to DeFi Pulse.

If you want to learn more about crypto projects, different tokens through LATOKEN Review, and tips on avoiding becoming a victim of a crypto scam, follow us on Medium, LATOKEN Blog, or LATOKEN VCTV channels.

About LATOKEN

LATOKEN is a fast-paced international crypto exchange and IEO platform with 1.3+ million users throughout the world.

LATOKEN brings commerce and banking to blockchain technology to automate transaction processing and save billions of working hours per year. Only one year after its launch, LATOKEN got 850,000+ downloads on Google Play and 1,200,000+ subscribers on social networks. Entrepreneurs and business owners who look for funding can also consider the LATOKEN IEO Launchpad. More than 300 digital assets and 500 crypto pairs are available for traders with the ability to connect using RESTful APIs or WebSocket.

What is more, LATOKEN has recently launched a P2P service for its users to improve the trader experience further. And the cherry on top, LATOKEN hosted the Blockchain Economic Forum last year. BEF Roadshows connect crypto investors with business people to build the next big things.

LATOKEN does not provide investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like many other assets, cryptocurrencies are subject to high market risk. Please trade with caution.

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