$ETH

Record! 6 Million Ethereum were acquired at the same time as $1, 800-$2, 000 price range last Wednesday, making this first-time record price for Ethereum, which may provide some reassurance for Ethereum as prices are hovering near $1200. If ETH prices recover further, it may further reinvigorate investor confidence in Ethereum as well as encourage more people to participate in Decentralized Finance. The enormous amount of ETH being accumulated shows that investors are betting on Ethereum’s recovery and even less so on selling bitcoin immediately after its downtick. The momentum the ETH acquisition represents proves significant. Any increase in holders’ ETH may give increased liquidity into Ethereum as well as support DeFi protocols and technology. If Ethereum regains momentum and price remains in a bullish trend, this could lead to a recovery in the broader market. There fore, this appears to be another significant moment for Ethereum and DeFi.