Most DeFi platforms and NFT marketplaces are built on Ethereum. When more people use them, it increases network demand, which can affect the price of Ethereum.
Ethereum’s value is closely tied to how frequently its network is used by DeFi and NFT platforms. Increases in usage raise demand on the network, which can influence Ethereum’s price. Ethereum’s price is closely tied to on-chain activity on its network. As DeFi and NFT platforms attract more users, activity increases, raising demand for block space and network resources, which can influence ETH’s price trajectory.
Most DeFi platforms and NFT marketplaces operate on Ethereum, making network demand a key driver of value. Higher usage reflects growing demand for gas and infrastructure, potentially pushing Ethereum’s price higher. However, price movements depend on broader market conditions and other factors beyond on-chain activity. Monitoring DeFi and NFT activity can provide insights into possible price directions but should be considered alongside macro trends.
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