DeFi-Hype leads Ethereum to the top

Within the last 30 days, Bitcoin has processed approximately $3 billion via its block chain. Ethereum has transferred more than 7 billion – more than twice that – in the same period.

In recent years, the largest crypto currency by market capitalization has always dominated. A glance at the statistics of the last few years also proves the gigantic speed with which the transaction volume on the block chains of the top crypto currencies has multiplied. In 2016 Bitcoin processed 88 billion and Ethereum 7 billion US dollars. Just one year later, the volume rose to 685 billion (Bitcoin) and 360 billion US dollars (Ethereum). 2018 then followed the strongest year for Bitcoin to date (849 billion US dollars). Ethereum was only able to grow slightly compared to the previous year.

But this year, the picture is changing dramatically. While Bitcoin shows a slight increase in volume compared to 2019, DeFi generated a lot of traffic on the Ethereum Blockchain. According to calculations by analyst firm Messari, the transaction volume on the Ethereum Blockchain will exceed one trillion US dollars. That would be an absolute record. The reason for this is undoubtedly the immense transaction volume caused by the many new DeFi applications. The Ethereum Blockchain serves as an infrastructural basis for almost all major decentralized financial services. In the second quarter of 2020, several new ERC-20 tokens found their way onto the Ethereum Blockchain and ensured a lively exchange of transactions.