Ethereum (ETH) opened the curtain last week of January with its price hike reaching $ 1,454 early this morning, surpassing the all-time high (ATH) that was recorded in early 2018, $ 1,448 and last week's ATH of $ 1,439.
For information, ETH growth since the lowest level of March 2020 after the market downturn due to COVID-19 reached 1,200% compared to Bitcoin (BTC) only grew around 700%.
If you want to compare the current prices of BTC and ETH which are different with $ 32,000 and $ 1,400 respectively, of course BTC is still the crypto champion.
But analysts cannot deny that Ether will continue to grow, bringing profit to investors throughout 2021 due to several factors:
HIGH DEMAND AMONG DEVELOPERS
Ethereum is a leading platform in blockchain project development and unmanned application launches. Although it is clear that Ethereum is accompanied by some great competitors such as Tron, Polkadot, Cardano, Cosmos and Tezos, the Vitalik Buterin platform still ‘leads’ this field.
FAST GROWTH OF TRANSACTION RATE
Records by 2020 show that the total value of transactions on the Ethereum blockchain reached over $ 1 trillion. The rate surpasses the record for total payments on large platforms such as PayPal which has over 350 million users with an average of no more than $ 200 billion per quarter.
DEFI SECTOR DEVELOPMENT
The total value locked in decentralized finance (DeFi) since the beginning of 2020 has increased by almost 3,300% from $ 687 million to $ 32.2 billion. Ethereum is definitely the platform of choice for the establishment and launch of most new DeFi projects and stablecoins.
Perhaps 2020 managed to divert the attention of big investors to Bitcoin because of its nature as a protector of inflation during the outbreak of the COVID-19 epidemic. It seems that 2021 may be in favor of Etherum with its main advantages of flexible technology and a growing community.
