CEX.IO company blog | Why is the rate of Ethereum growing and what will happen next?

The Ethereum rate exceeded $1,800, which is almost 15% higher than the value on February 8. Asset capitalization increased from$ 184 to $ 207 billion. On February 12, the Ethereum rate is $ 1,791.

Yuri Mazur, head of the data analysis department of the international crypto broker CEX.IO Broker, shared his opinion with the crypto publication BeInCrypto on what drove the growth of Ethereum and what awaits it next.

The main factor of growth was the achievement of newa record for the level of liquidity in DeFi protocols, about 90% of which operate on Ethereum smart contracts. This rapid growth has spurred demand for Ether, which in the long term promises significant income from staking on the Ethereum 2.0 network.

Based on the assumption that the marketAs decentralized finance (DeFi) continues to grow, we believe that demand for ether will remain quite high. In this regard, we expect to see ETH rise to $ 1,900 by the end of March.

Ethereum may consolidate higher in Q3the level of $ 2,000. Much here will depend on how bitcoin behaves, approaching the current maximum: it breaks through the resistance and continues to grow or corrects again.

Read the full material here.

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