Last night, the price of ETH reached $ 2,000 for the first time. Since the beginning of the year, the cryptocurrency rate has risen by more than 168% amid a bull market rally, the development of Ethereum 2.0 and the boom in the DeFi industry.
The largest crypto assets continue to set price records. At the beginning of the month, ether crossed the $ 1,800 mark, and on February 20, at about 3:00 Moscow time, the second largest cryptocurrency in terms of capitalization exceeded $ 2,000. On January 1, ether was traded at $ 730, after which it began to grow rapidly and the price of ETH rose in two and a half months by 168%.
A source: Tradingview
ETH’s growth was driven by at least three factors: the boom in decentralized finance (DeFi) projects, the development of Ethereum 2.0, and the CME Group’s launch of ETH futures trading.
Additionally, institutional and retail investment in bitcoin has helped increase interest in cryptocurrencies in general. Since the beginning of the year, BTC has grown from $ 32,000 to $ 56,000, largely due to news of large investments from well-known companies such as Tesla. Bitcoin capitalization exceeded $ 1 trillion for the first time yesterday.
As a reminder, Bitwise has recently launched a fund that provides institutional investors with access to the DeFi industry. The fund index includes Compound, Uniswap, Maker and other projects.
The volume of trading in ETH futures on CME exceeded $ 160 million in the first week, and Vitalik Buterin published a plan for the first Ethereum 2.0 hard fork, which will include support for light clients and changes in the system of validator penalties.
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