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BTC crossed ATHs last week
Yet ETH still sitting -50% below its previous record
If that has you down, I got you covered
Here are 10 Ethereum charts that already hit ATHs in 2020
Yet ETH still sitting -50% below its previous record
If that has you down, I got you covered
Here are 10 Ethereum charts that already hit ATHs in 2020
1. Utilization Rate
This is arguably one of the most fundamental metrics
It translates to the demand for blockspace and whether or not people are willing to use the ledger as a settlement layer
Good thing Etheruem is maxed out. There's too much demand to use the network
This is arguably one of the most fundamental metrics
It translates to the demand for blockspace and whether or not people are willing to use the ledger as a settlement layer
Good thing Etheruem is maxed out. There's too much demand to use the network
2. Hash Rate
Despite the upcoming transition to PoS, Ethereum's hash rate is hitting new highs.
Currently sitting at 270 TH/s, the network is as secure as ever
Miners look to get their last remaining ETH before their hardware is bricked with the eventual migration to Eth2
Despite the upcoming transition to PoS, Ethereum's hash rate is hitting new highs.
Currently sitting at 270 TH/s, the network is as secure as ever
Miners look to get their last remaining ETH before their hardware is bricked with the eventual migration to Eth2
3. ETH Open Interest
Open interest is the amount of total outstanding options. And this number is approaching $1B
While it's still relatively small in the grand scheme of things, the growth in options provides more tools for miners and others to hedge exposure to volatility
Open interest is the amount of total outstanding options. And this number is approaching $1B
While it's still relatively small in the grand scheme of things, the growth in options provides more tools for miners and others to hedge exposure to volatility
4. DeFi Users
After starting the year with ~100K users (i.e. unique wallets), the graph went fully parabolic due to the yield farming mania this past summer
We've now surpassed over 1M users
How long until 1B?
After starting the year with ~100K users (i.e. unique wallets), the graph went fully parabolic due to the yield farming mania this past summer
We've now surpassed over 1M users
How long until 1B?
5. Total Value Locked
Similarly, TVL reached new highs of $15B+ as capital poured into the space from the yield farming mania
Everyone was chasing astronomical yields
All you had to do was click a few buttons & you were earning magnitudes higher than anything in TradFi
Similarly, TVL reached new highs of $15B+ as capital poured into the space from the yield farming mania
Everyone was chasing astronomical yields
All you had to do was click a few buttons & you were earning magnitudes higher than anything in TradFi
6. DEX Volumes
DEXs like Uniswap, Curve, and Balancer were key players this year
The sector finally started to realize its potential and compete with centralized exchanges.
DEX market share rose to 15% of centralized exchanges and monthly volumes soared to over $25B
DEXs like Uniswap, Curve, and Balancer were key players this year
The sector finally started to realize its potential and compete with centralized exchanges.
DEX market share rose to 15% of centralized exchanges and monthly volumes soared to over $25B
7. BTC on Ethereum
There’s now over $3.3B BTC circulating Ethereum, representing 0.675% of all BTC in existence
People just couldn't sit idle on their BTC anymore. The yields on Ethereum were too good to resist.
This trend is prob not slowing down...1% of BTC supply soon?
There’s now over $3.3B BTC circulating Ethereum, representing 0.675% of all BTC in existence
People just couldn't sit idle on their BTC anymore. The yields on Ethereum were too good to resist.
This trend is prob not slowing down...1% of BTC supply soon?
8. ETH in Grayscale
Grayscale is becoming a blackhole for crypto assets
Not only do they hold ~2.5% of all BTC, but they've grown their ETH position to 2.3% of the supply or over ~2.5M ETH
Grayscale is becoming a blackhole for crypto assets
Not only do they hold ~2.5% of all BTC, but they've grown their ETH position to 2.3% of the supply or over ~2.5M ETH
9. Stablecoins on Ethereum
Stablecoins or 'crypto dollars" have flourished over the past two years
And Ethereum has become the dominant platform for these synthetic dollars
There's now nearly $20B circulating the Ethereum economy, up from ~$3B in Jan 2020
Stablecoins or 'crypto dollars" have flourished over the past two years
And Ethereum has become the dominant platform for these synthetic dollars
There's now nearly $20B circulating the Ethereum economy, up from ~$3B in Jan 2020
10. ETH in Deposit Contract
Last one is a bit of a cheat as it can only go up
But ETH reached unicorn status as $1B has been deposited into Eth2, roughly 1.5% of all ETH
And it's only getting started. There's tons of infrastructure coming online to support this new network
Last one is a bit of a cheat as it can only go up
But ETH reached unicorn status as $1B has been deposited into Eth2, roughly 1.5% of all ETH
And it's only getting started. There's tons of infrastructure coming online to support this new network
There’s no shortage of ways to cut it: Ethereum is growing
So it's only a matter of time before we're celebrating ATHs too
Just hang tight :)
Read the full piece on @BanklessHQ https://newsletter.banklesshq.com/p/10-ethereum-charts-that-hit-aths
So it's only a matter of time before we're celebrating ATHs too
Just hang tight :)
Read the full piece on @BanklessHQ https://newsletter.banklesshq.com/p/10-ethereum-charts-that-hit-aths
