Ethereum spent 26 days over $ 1,000. This is an important milestone for Ethereum.
Ethereum’s price is slightly below its all-time high. The price remained high throughout the month as the network advanced with the increased use of decentralized finance (DeFi) applications.
On January 4, Ethereum’s price closed at $ 1,042. It closed at $ 1,380 on January 29. It never went below $ 1,000 in the meantime.
Using data from Messari, these 26 consecutive days are a milestone, as noted by Ethereum researcher Evan Van Ness.
Ethereum had closed from January 6, 2018 to January 21, over $ 1,000. It peaked this level again from January 24, 2018 until February 1. By December of that year, the price had fallen to double digits.
This time around, the numbers seem to be built on more than price speculation, given the expanding applications used in the Ethereum blockchain, namely DeFi applications.
During Ethereum’s bull run in January 2018, the transaction volume on the network varied between $ 1 billion and $ 4 billion. Today’s volume was $ 11.7 billion.
Second, on January 30, 2018, the $ 77 million token, measured by DeFi Pulse, was locked into DeFi protocols. Today, this figure has reached 27.29 billion dollars. This means a 354-fold increase in three years.
And DappRadar reported that the most used dapp, the decentralized exchange Uniswap, reached more than 313,600 users last month.