Good news for Ethereum investors as over 90% of Ethereum's market supply is currently in profit. A feat that was only achieved during the bull run in 2017.
Research and market analysis carried out by Glassnode explained that ETH's value has increased over the past few weeks, exceeding 400USD at some point.
The co-founder of Ethhub.io Anthony Sassano believes that the phase of the market cycle is very bullish.
Kelvin Koh, the co-founder of the Spartan group, attributed the price movement of ETH to the forthcoming launch of ETH 2.0.
Additionally, a crypto site report revealed that decentralized finance holds about 4.32 billion USD of ETH. Decentralized finance enormous growth has played a massive role in the outstanding increment in the price of Ethereum.
Source: News.bitcoin
