• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
ethereum crypto price taps $9k
Nexo

Ethereum Surges 14% Today, Here’s 3 Reasons Why

Trevor Smith by Trevor Smith
2 years ago
in Ethereum, News, News teaser
0
Advertisement

Ethereum price has surged in value over the past week, posting its largest gains in the last twenty-four hours. Several notable factors have contributed to this rise, which could have strong effects on the platform moving forward.


DEFI IS REDEFINING THE PLATFORM

Over the past year, decentralized finance (DeFi) has emerged as a major element of the blockchain space. DeFi includes any project that uses smart contracts to lend, hedge, or swap assets. Whereas there are many blockchain platforms capable of performing these functions, Ethereum has established a dominant position in the sector..

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Presently more than USD $745 million is locked up in DeFi, almost all of it on the Ethereum network. This is more than double the number from one year ago, and although it declined in March, it is once again growing. There is no doubt that investors are taking notice, and understand that this has a strong potential to move Ethereum into the mainstream financial markets.

Maker is by-far the most popular DeFi platform, which only adds to Ethereum’s strength. However, many more DeFi projects are emerging. Also, Chainlink is the most popular oracle network, which also operates on Ethereum and is becoming a crucial player in many DeFi projects.

ETHEREUM FUTURES HAVE SPIKED

As prices have recovered, so too have trading volumes. Most notably, Ethereum has seen a significant spike in futures trading over the past twenty-four hours. SkewAnalytics has just posted data on Twitter showing the close correlation between Ethereum’s present price gain and futures volume.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Futures volumes doubled vs average of last two weeks pic.twitter.com/Miy1tzb9Iu

— skew (@skewdotcom) April 7, 2020

OkEx is clearly leading the increase and was recently announced as the largest derivatives exchange by volume last month, indicating a strong interest for Ethereum trading in Asia.

It is worth noting that big jumps in futures volume generally leads to volatility, and a price correction could rapidly occur if too many investors bet long on Ethereum’s price.

SERENITY UPGRADE IS COMING UP

In July the #2 cryptocurrency is slated to undergo its largest upgrade to-date. Ethereum 2.0, named “Serenity,” will transition the platform into a proof-of-stake consensus architecture. It will also play a key role in Ethereum’s scaling solution, thus enabling vastly more transaction capability.

In February the development team held a Reddit AMA where they expressed great confidence in Serenity launching on time. Once active, Ethereum 2.0 is expected to radically transform the entire platform ecosystem and open the door to mass use on a global scale. It thus stands to reason that investors are taking advantage of the present price before what they expect will be a major jump in value.

What do you think is the reason for the latest Ethereum price surge? Add your thoughts below!


Images via Shutterstock, Twitter @skewdotcom @

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Trevor Smith

Trevor Smith

College professor, public speaker, and analyst of all things related to cryptocurrency and blockchain technology.

Related Posts

Crypto

Crypto Lender Voyager Digital Goes Bankrupt After Three Arrows Collapse

8 hours ago
meme coins

The Meme Coins That Dominate The Top Ethereum Whale Holdings

23 hours ago
Solana vs Ethereum

Summer Inside Crypto Winter: Solana Steals The Lead From Ethereum

1 day ago
bitcoin miners

Head To Head: Bitcoin Miner Revenues Surpass Ethereum But There’s More

2 days ago
Warba Bank

Warba Bank Becomes 1st Islamic Lender To Enter The Metaverse

2 days ago
GPU Prices Decline 57% Since Jan As Ethereum Mining Profits Go Down

GPU Prices Decline 57% Since Jan As Ethereum Mining Profits Go Down

3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.