The Ethereum currency, Ether (ETH), managed to cross the psychological barrier of USD 400 this Thursday, after staying above USD 390 for most of the day. Since 16:34 (UTC-4) it exceeded by For the second time in the month at $ 400, Ethereum followed a rapid rise to a local high of $ 433, then fluctuated above $ 420.
The last time the ETH price was above $ 430 was in early August 2018, amid the decline from its all-time high of $ 1,438, reached on January 13, 2018. At the time of writing, Ethereum’s currency is priced at $ 427, representing a 223% return from early in the year, according to CoinMarketCap.
Part of the steep ether boom this year, which has outperformed bitcoin, is due to to accelerated growth decentralized finance or DeFi. Most of the lending platforms like Maker or Compound, or so-called liquidity pools like Balancer and Uniswap, among others, are on Ethereum.
Just this Thursday, the total value locked on DeFi platforms exceeded $ 5 billion, according to DeFi Pulse, a month and a half after reaching 4,000 million. Too, this Thursday the long-awaited Curve Finance governance token was launched, Curve DAO. This liquidity pool grew 157% in locked value in one day, to USD 588 million, and surpassed Balancer and Uniswap.
Bitcoin (BTC), which remains in the vicinity of $ 11,700, tried unsuccessfully yesterday to break the resistance of $ 12,000. It rallied to $ 11,845 and then fell back toward levels near $ 11,700.
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