ETH reaches new heights as DeFi usage significantly increases while Ethereum blockchain settles more on-chain transaction volume than Bitcoin on a daily basis.
Ethereum’s ETH/USD pair hit a new all-time high (ATH) on January 19, topping trading around $1,440 for the first time since the world’s second largest cryptocurrency’s launch in 2015.
Although ETH’s USD pair has broken a new ATH, it’s important to note that ETH/BTC pairs are still far from peak levels, with 0.14 BTC recorded as all time high in January 2018, and the current ETH/BTC price sits at a moderate 0.031 BTC.
As BTC has consolidated around $36,000 over recent days after its rally above $42,000, many see ETH as the next big market mover. The sequence of BTC first, to ETH second in terms of hike in price during bull markets are usually followed by significant rise among other promising altcoins.
Nonetheless, ETH has had an impressive ride over recent weeks and days, rising to a market cap above $161 billion. The growth in price, on-chain transaction volume, trading volume and overall popularity is primarily driven by increased usage and popularity of DeFi (decentralized finance) platforms such as Uniswap, Compound, Sushiswap and many others.
Ethereum’s main advantage is still not superior tech, but first mover advantage as the first smart contract and Dapp protocol in the world. This advantage has led to dozens if not hundreds of quality projects and platforms being built on top of Ethereum, using ETH for gas, liquidity and transfers.
That being said, most do not know that Ethereum now settles more USD value transactions on a daily basis than Bitcoin does. Ethereum processes around $12.3 billion compared with Bitcoin’s $9.3 billion. Yes, ETH now settles $3 billion more than BTC daily, which in itself is a remarkable fact that might have some foretelling of Etheruem’s future usage as a currency.
Although Ethereum today often experiences congestion and at times very high gas fees to conduct transactions, the next version of Ethereum, known as ETH 2.0, has currently launched its Phase 0 with larger than expected staking by validators into the new ETH 2.0 network testnet. The successful launch of the staking phase ETH 2.0 has also contributed in the positive sentiment around Ethereum’s future impact in the industry and beyond.
Ethereum dapps such as Uniswap and countless other dapps are accessible in Klever Browser, through which millions of Klever users can seamlessly enter, transact and interact with DeFi platform directly from their Klever app. Check out our video tutorial below on how to access Ethereum Dapps in Klever Browser:
How To Access ETH Dapps in Klever?
1. Launch Klever App
2. Go To Klever Browser
3. Select Your Ethereum Account
4. Input Ethereum Dapp Link in Klever Browser.
5. Done! Enjoy Your ETH Dapp in Klever.
The Ethereum blockchain and ETH itself are central components of the Klever ecosystem. There are dozens of ETH-based tokens in Klever Swap in addition to Ethereum Dapp Browser Support, and the Klever team runs several Ethereum nodes to smoothly and securely conduct these operations on top of Ethereum.
Director of Communications at Klever.io