Hello!
Yes, you read it correctly. Today it is the first day that the Ethereum blockchain with ETH as a main token + their Stablecoins transfered more value than Bitcoin.
The 2 leading cryptocurrencies by marketcap are competing to be the leader of the value transfer, it seems that it is getting closer overtime and if this trend continues in the coming months ETH will be more used as a tool of transfering value than Bitcoin.
This is a huge accomplishment and it is a trend that has been shortening since last summer, approximately since August 2019.
According to CoinMetrics the value has reached $1.5 bilion today. It is far from the BTC peak at $3.3 bilion but it is a considerable ammount that has been steadly increasing last year from $0.3 bilion.
Here you can see a graph with all the data:
It is known that the Ethereum network has a high volume of development and a high volume of dApps with #DeFi being one of the most disruptives. #Defi also known as (Decentralized Finance) is the movement that leverages decentralized networks into trustless protocols for financial products.
Will the next Bull Run start with the DeFi movement?
It is definetely something that could happen sooner than later.
Enjoy! 😊
