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Home Markets Cryptos

Ethereum on rampage, breaks above its 2 year high

Olumide Adesina by Olumide Adesina
January 19, 2021
in Cryptos, Spotlight
Ethereum, cryptocurrency, Crypto: Large investors transfer over 700,000 Ethers
Share on FacebookShare on TwitterShare on Linkedin

The world’s utility crypto is fired up on all cylinders on the basis it just ascended past its 2 years high.

At the time of drafting this report, Ethereum traded at $1,415 with a daily trading volume of $35.3 billion. Ethereum is up 13.95% for the day.

What you should know: Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control or interference from a third party.

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  • Ethereum 2.0 is an upgrade to the Ethereum network that helps in improving the network’s scalability.
    Through the implementation of several, efficiency, enhancements, scalability, and speed the Ethereum network becomes better without compromising its decentralization and security.

What this means: Key reasons attributed to the remarkable rise of Ethereum include the rise of many #DeFi projects running on the #Ethereum network as seen in 2020, #Ethereum flipped Bitcoin in terms of network fees.

  • Users spent almost $600M in fees on the Ethereum network last year – 83% more than on Bitcoin.

In 2020, #Ethereum flipped #Bitcoin in terms of network fees.

Users spent almost $600M in fees on the Ethereum network last year – 83% more than on Bitcoin.

Data: @glassnode pic.twitter.com/SMSHbkFHuC

— Rafael Schultze-Kraft (@n3ocortex) January 9, 2021


Follow us for Breaking News and Market Intelligence.
Tags: Ethereum
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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