Decidedly, this is almost starting to be the unmissable event on Monday: ETH continues to ignite! Only a week after passing the $ 3,000 mark, Ethereum is off the hook after surging dramatically over the weekend.
Road to 5K ?
It’s safe to say that 2021 so far appears to be the year of Ethereum. Indeed, the smart contract blockchain has seen its DeFi ecosystem continue to develop to reach new proportions.
At the same time, it also took advantage of the visibility offered by NFTs, to a wider and newer audience when it comes to blockchain. Artist Beepl’s $ 69 million sale seems to be the perfect example.
Just a week after breaking the $ 3,000 mark, ETH’s price has now passed $ 4,000 this morning and is now hovering around $ 4,100.
This should come as no surprise when you compare network metrics.
Indeed, the Ethereum network sees the number of transactions carried out daily increasing day by day. Thus, the network has just beaten a new record with more than 1.5 million daily transactions, an increase of 50% since January 1, 2021.
All these transactions obviously have one goal: to take part in the various protocols that make up DeFi. A theory that is verified thanks to the data of CryptoFee. Thus, Ethereum, eight DeFi protocols as well as Bitcoin form the top 10 of the most cost-consuming protocols.
Unsurprisingly, the giant Uniswap is responsible for consuming a large part of the fees, because they are extremely busy. This is in second position, ahead of Bitcoin, and could well continue to rise following the release of V3 of its protocol.