Ether is the “gas” and currency of the Ethereum network. As a testament to the growing use of that network, the USD value of ether locked up in Ethereum-powered decentralized finance applications, or DeFi dApps, crossed an all-time high of $700 million on November 29th.
That milestone has many Ethereum proponents guessing: when $1 billion?
To be sure, crossing the $1 billion mark is an arbitrary threshold, but it is a round, psychological point for stakeholders to gauge Ethereum’s fledgling performance.
Moreover, for the reigning smart contracts platform it represents a watershed moment — validation by tangible, even if relatively modest adoption when Ethereum is rising but still very much so insurgent.
With detractors who have said Ethereum would never get this far and more yet…