Ethereum (ETH)

Ethereum, launched in 2015, introduced the concept of smart contracts and decentralized applications (dApps). It is the backbone of many blockchain projects and the DeFi (Decentralized Finance) ecosystem. During this bullish phase, Ethereum has also seen substantial gains, fueled by several key developments:

DeFi Boom: The explosive growth of DeFi platforms, which rely heavily on Ethereum's network, has increased demand for ETH. Users need ETH to pay for transactions and interact with these platforms.

Ethereum 2.0 Upgrade: The ongoing transition to Ethereum 2.0, which aims to improve scalability and reduce energy consumption through a shift from Proof of Work (PoW) to Proof of Stake (PoS), has generated positive sentiment.

NFT Market: The popularity of non-fungible tokens (NFTs), most of which are based on Ethereum, has driven further interest and investment in ETH.$ETH