Ethereum Cleared the Transactions Worth $1.5 Trillion
Ethereum (ETH) continues to demonstrate its tremendous promise in the crypto space, with a market capitalization of $265.54 billion and a price of $2,386.
Due to mass acceptance and the booming decentralized finance (DeFi) and non-fungible token (NFT) industries, the second-largest cryptocurrency has experienced a remarkable bull run.
Visa Inc., for example, revealed in March that it would use the Ethereum blockchain to settle USDC transactions.
Did you know CME Ether Futures hit ATH volumes?
According to data analytics company Skew, CME Ethereum futures saw record volumes on April 19, as open interest surpassed $360 million and daily volume surpassed $300 million.
The Ethereum network is in high demand, as shown by these record-breaking volumes. Ethereum’s supply crisis is getting worse, according to crypto analyst Joseph Young.
As a result of market forces, a price rise is usually triggered by high demand and a slack supply, as is the case with Ether.
Ethereum, along with other altcoins, has had an incredible start. Dogecoin (DOGE), for example, has recently reached the top ten despite its origins as a “joke currency” based on the “Doge” meme featuring a Shina Inu puppy.
DOGE has overcome all odds to emerge triumphant in the crypto market, thanks to the support of well-known figures such as Tesla CEO Elon Musk and the American rapper Snoop Dogg, and is currently ranked sixth with a price of $0.3215.