CEX.IO company blog | Ether has risen in price to an all-time high

The ether exchange rate reached a historical high, exceeding $1,430. In one day, the rate is the second most populardigital currency has grown by more than 16%, and since the beginning of the year it has almost doubled. As of January 20, the ether rate is $ 1,350.

Yuri Mazur, head of the data analysis department of the international crypto broker CEX.IO Broker, shared his opinion with the journalist of Kommersant about the growing popularity of the second cryptocurrency.

One of the reasons for the growing popularity of ether may bebe smart contracts that were first implemented by the Ethereum team. They now power the vast majority of decentralized applications and almost the entire DeFi market.

In 2020, the broadcast was the most usedcryptocurrency for making transactions - approximately 1.1 million pieces per day. This can be a confirmation that ether is a leader in terms of quantitative indicators, which can also serve as one of the fundamental factors for investment attractiveness, because a larger number of transactions leads to an increase in miners' fees for processing and their confirmation.

The technological basis for the growth of ether will bea full-fledged transition of the cryptocurrency network to the new Beacon Chain blockchain, in which consensus technologies will be applied based on proof of stake and sharding - technologies for scaling data work.

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