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Ethereum seems to be the current leader in the crypto market, after recently reaching a new  All Time High (ATH) at $1,475 according to Binance. The main resistance, however, remains closer to the $1,500 level.

According to CoinMarketCap, Ethereum now has a market cap of $161 billion. As it stands, ETH is up over 17% in the past 7 day period, and up more than 6% in the last 24-hours.

According to the data by crypto analytics company, Glassnode, the number of addresses holding at least 0.1 ETH reached an all-time high of 3,756,147. Glassnode further reported that the number of ETH addresses in profit also reached an ATH of 51,973,513.929.

The recent ETH rally has had a massive effect on various DeFi projects. The most notable being: Aave, SushiSwap and Uniswap. These DeFi projects have all seen massive price increases over the past few weeks. According to data from Defi Pulse, the total value locked under DeFi reached an all-time high of $26.6 billion.

Circle CEO, Jeremy Allaire, believes that with the new Ethereum ATH, DeFi is set to see “explosive growth”.

Feature image by WorldSpectrum from Pixabay 

Andrew is a law student currently studying at UNISA, and Global Crypto's in-house reporter. Andrew discovered blockchain in his final year of school and since developed a keen interest in the subject. He appreciates a good cup of coffee. When he is not too busy with work or studies, he enjoys playing a good round of golf.