Ethereum Transaction Volumes Rise to 2017 Levels, ETH Price Soars above $500
Pinning the increasing demand on the rise of decentralized finance, other factors that could explain the rise in Ether prices in the last two weeks are developments around Eth2 and whether the transition will be timely. According to Defi Pulse, a site that tracks the number of coins under management by different open finance applications, over $14 billion worth of assets have been locked.
Then, at the back of ETH price rallying to $370, assets flowing into DeFi sharply rose indicating demand and shifting dynamics. “The whole idea of DeFi is, number one, it’s revolutionary, and I think at the end of the day could lead to massive disintermediation of the financial system and the traditional players.