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Waiting le staking sur Ethereum (ETH) 2.0, it mine on the original version of the network: miners have 1 million daily reasons for digging more and more. Ethereum is maybe a scam to believe Adam Back but it is a scam with consolidating fundamentals and a DeFi that has not finished boosting its course.
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ETH: 1 million more than Bitcoin
Data published by Etherscan and Glassnode indicate that the hash rate of the network Ethereum is currently at its highest level for 20 months.
The more bullish traders suggest that this is a possible indicator of an uptrend in the price of theETH.
The hash rate is currently approaching 200,000,000 GH / s, a value that is close to the rates seen in 2018.
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The demand forETH has increased with constant speed since June 2020; Ethereum also records an increase in the use of DeFi platforms, in particular Uniswap and new protocols – this growth in DeFi leads to network congestion.
Transaction fees hit record levels to surpass those of Bitcoin (BTC) : the market data provider affiliated with Kraken, Cryptowatch, noted in a tweet that the daily difference between the transaction fees on Ethereum and Bitcoin, amounted to $ 1 million.
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Source : Image via Twitter
The DeFi behind the hashrate explosion equation
The increase in hashrate and transaction fees is a bullish indicator of the volume of activity on the blockchain ETH.
This increase is admittedly mainly linked to the growth of the DeFi sector, but the data indicates that this increase is also due to a consolidation of the fundamentals ofEthereum.
Congestion periods are usually accompanied by a form of competition between users who attach higher fees to their transactions, to ensure their processing: this increase in transaction fees increases the incomes of miners, sufficient motivation to push them to mine moreETH, hence this explosion in the hash rate on the network – solved equation.
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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
The global economic crisis is here and yet the cryptos seem to not care: Bitcoin continues to rise towards $ 20,000 ‘around USD 12,000 to be more precise), the number of Chainlink (LINK) addresses in profit has reached 100% and, Ethereum has not finished demonstrating its strength. We are still at the original ETH and the network is already recording excellent results: in 2.0 mode, do we have to expect an Ethereum that is twice as efficient?
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Litecoin, welcome in the Silver Age
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