Ethereum, the second largest cryptocurrency after Bitcoin by total market value, continues to set records.
After breaking the previous record related to the Ethereum price reaching a new record, surpassing what was recorded in January 2018, and the increase in the value of funds closed in the decentralized financing protocols DeFi and reaching record numbers.
Ethereum continues to hit these records and this time around it has not closed below the $ 1,000 level since January 4, 2021.
Ivan Van Nass, one of the Ethereum researchers, noted, using data from Messari, that the 26 consecutive days are a milestone in the history of Ethereum.
He wrote on Twitter:
As of this year, the price of Ethereum has closed above $ 1,000 on 26 consecutive days.
We only saw this in 2018 (in 2018 Ethereum remained above the $ 1,000 level for only 15 days).
This means a new record in the price of Ethereum and not closing it below the level of $ 1000.
This time, the Ethereum numbers appear to be based on something more than just speculation and price speculation, given the expansion of decentralized applications used on the Ethereum blockchain.
This can be measured in a number of ways, one of which is volume.
During the bullish trend in Ethereum in January 2018, the volume of trading on the network ranged between $ 1 billion and $ 4 billion.
Today, trading volume has reached more than 11.7 billion dollars.
On January 30, 2018, $ 77 million in digital currencies were seized in DeFi’s decentralized financing protocols, according to “DeFi Pulse.”
Today, that number has reached $ 27.29 billion, which is an increase of 354 times in a three-year period.
“DappRadar” reported that the decentralized trading platform “Uniswap” reached 313600 users last month.
This platform did not exist until November 2018.