While in the entire Crypto Space in the last few weeks, the euphoria has returned, just in time to benefit Ethereum as a second flagship behind Bitcoin is strong. The Ethereum rate rose since the 20. July,, the also marked in the Bitcoin exchange rate the turning point to 69%. The Asset could even beat its big brother BTC (+27%) to lengths. Currently, ETH scratch again with a few dollars to the $ 400 mark. So Ethereum is only just below the previous high for the year at USD 410 and an incredible 206% since the beginning of the year in the Plus. But how is this growth justified? In this article, we take a look behind the current developments at ETH Zurich. To do this, we look at some of the strong fundamentals and DeFi as a brand accelerator for the course. A lot of fun!
Ethereum network with strong data
When it comes to the Crypto-company Glassnode, is not only the Ethereum course currently on a high-altitude flight. The upward trend, the few in this Form have previously seen, seems to be due to strong fundamentals, well-founded.
So Glassnode yesterday released a Chart that shows that Ethereums “Aggregate Security Spend”, also “Themocap called” exceeded 7 billion USD. According to the company, the Thermocap of the total income that was generated by the network (block rewards, which were paid to the Less), and can be used as a measure of the true capital flows in Ethereum.
#Ethereum’s aggregates Security-Giving (“Thermocap”) just reached $7 trillion USD.
Thermocap is the total revenue generated by the network (block rewards paid to miners), and can be used as a measure of the true capital flow into Ethereum.
Chart: https://t.co/cDNlk95alQ pic.twitter.com/H8Jw7irzHr
— glassnode (@glassnode) August 5, 2020
This metric, however, is not the only one that makes the network of Ethereum excellent appearance. How Glassnode also reported yesterday, a new all-time high values even (reached 2 other Fundamental ATH).
This is the number of addresses that hold any amount of Coins. This value reached a new all-time high of 44.760.845. The other fundamental value is the number of addresses that hold the 0.1 ETH, or more. This value increased to an ATH in 3.202.065.
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What are the benefits to ETH accurately DeFi’s?
We summarize thus: the Ethereum course is clearly on the upswing, and the network can deliver strong fundamentals. Another reason why ETH Fans confident in the future be able to look at the developments that have taken in the last few weeks and months, just in case a ride.
Also, if, in retrospect, it is always difficult accurately to determine which factors for the price increases were responsible, is Decentralized Finance his part contributed to it. But why, exactly?
The Ethereum course is in the last instance, as the price for all other goods, determined by supply and demand. Who wants to invest in Defined projects, or would like to use, you must usually buy first, Ethereum, similar to the ICOs in the year 2017. This naturally increases the demand for ETH and thus driving potentially the course.
Here the decisive advantage for the Ethereum rate is also confirmed by Spencer Noon of DTC Capital:
My estimation of #DeFi, after I have spoken to in the last few weeks, with institutional investors, Fund managers, OTC Desks and FOs: The herd comes. Are you excited about DeFi, but new to it, so you first buy $ETH.
Should increase interest in DeFi so on, it could ensure the continuation of buying pressure and a positive impact on the Ethereum course. If you want to benefit from the future development of Ethereum, or you even feel uncomfortable as a Trader short-term movements to take, we can recommend you for this project according to their own Tests Plus500 as a platform. The operation is especially suitable for beginners in the Crypto area very well. Before, we promise you to much, see for you self!
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The comments in this article do not represent any trading recommendations or investment advice.