The price of ether has risen above $ 440 today, which is the best performance in the last 2 years. The positive dynamics is due to the growth of the market for derivatives and DeFi protocols.
Analysts note record high openinterest in futures contracts for ETH, which has remained stable over recent years and remains at the level of $1.5 billion. Interest from large investors supports the optimistic mood of traders, which is a good catalyst for growth.
In recent months, rapidly gainingpopularity of projects in the field of decentralizedfinance also indirectly stimulated the appreciation of the exchange rate. The growth in user activity gradually increased the demand for ether and gas to pay transaction fees, part of which is purchased with ETH.
Since commission fees on TuesdayEthereum rose to a record level, the price of ether increased by 12%. At the time of publication, ETH is trading at $437. Over the past month, its value has increased by 84%, and almost 400% – compared to the March low.
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