[Taklimakan Blog] Ethereum and Polkadot Compete for Supremacy
Since the beginning of the year, ETH has renewed its all-time high at $1,750, and other network indicators have increased along with the price.
Ethereum has updated not only the price record
Ethereum, the second-largest digital asset in the world by market capitalization, is having a good month. The cryptocurrency has updated its historical maximum several times and in the first week of the festival reached the $1,750 mark.
Ethereum continued to rise even as bitcoin began a correction. Experts attribute this to a boom in the decentralized finance segment.
Many DeFi tokens, including Aave, UniSwap, SushiSwap, and Maker, saw phenomenal growth in January. The DeFi Economy’s Total Locked Value (TVL) rose more than 40% in January, from less than $20 billion to over $27 billion.
According to CryptoQuant, at the end of November, ETH stocks on exchanges plummeted from 22.33 million to 20.8 million coins. This means that currently, only 18.1% of Ethereum supply is circulating on exchanges.