Michael Sonnenshein, managing director at Grayscale Investments, gave an interview to Bloomberg and expressed some thoughts on the recent development of Decentralized Finance (DeFi) and the recent transformation of Ethereum into an Asset Class.
Michael Sonnenshein underlined that 2020 has been the year of DeFi: many new DeFi projects have been launched; the number of users and transactions involved in DeFi space increased exponentially and the amount of capital locked in decentralized finance has surged.
Sonnenshein then explained that it was this growing hype about DeFi to get new investors involved with the DeFi blockchain by definition: Ethereum. This allowed Ethereum to increase demand and consolidate its price, turning Ether into an asset class, as happened with Bitcoin.
As for the future of Ethereum, he stated that the long-term prospect of Ethereum is even brighter thanks to the launch of ETH 2.0, which will put an end to the scalability problem.
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