ETH is witnessing a strong revival thanks to the massive development of DeFi as more and more ETH is locked in these dapps.
Someone bought a lot of ETH
Today, crypto economist and trader Alex Kruger took to Twitter to share a chart from the BitMEX exchange showing a huge increase in ETH trading volume over the past week.
This figure is 4 times larger than the previous volume in the second half of last year. Therefore, this trader concluded that someone bought a large amount of Ethereum.
The average $ ETH trading volume during the past week has been 4 times larger than the average volume for the second half of 2019. Somebody has been buying a lot of $ ETH. pic.twitter.com/haWJ4JO6W0
- Alex Krüger (@krugermacro) February 18, 2020
Now people start admiring ETH
Analyst Michael van de Poppe noted that Ethereum and other cryptocurrency projects, previously largely forgotten and often said by many to be dead, are currently on the verge of a resurgent wave.
Ethereum is one of them, and many people once again believe that ETH will quickly return to its previous golden age. This is happening - the analyst said - because the candles on the charts have turned green and prices are showing more and more positive sides.