DeFi, stablecoins, and smart contracts largely drove ETH’s surge in on-chain volume. Bitcoin, on the other hand, focused on being a store of value, and the amount of transfers carried out on the network was often fewer but larger.
Currently, Ethereum’s entire ecosystem, including Layer 2 solutions, manages far more extensive economic activities. Despite the massive growth and large market coverage of ETH and BTC, Nomad still believes that both assets are early, especially ETH, which is just 10 years old.
ETH See Continued Accumulation From Investors
Moving on to price action, the current value of ETH is nearly the same as the Realized Price of the accumulation address, making this moment a pivotal one for the altcoin and its near-term future. At the time of writing, the ETH price was trading at $2,381, recording a nearly 1% rise in the past day.
