The data of 10 indicators of Ethereum hit a record high, the next stop is "the sea of ​​stars"?

Editor's Note: This article comes fromVernacular Blockchain (ID: hellobtc), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Vernacular Blockchain (ID: hellobtc)

, reprinted by Odaily with authorization.

On January 4, 2020, Ethereum finally broke through the $1,000 mark again after a lapse of three years, and in the following week it reached a peak of $1,300, approaching its historical high.

Behind the simultaneous rise of secondary market prices and on-chain transaction fees, many indicators of Ethereum have actually reached historical highs. As a side proof of the development of the Ethereum network, it may help us to further understand the current status of Ethereum. The actual situation, and the distance that may be reached next.

1. The network utilization rate is full, and the "global settlement layer" goes further

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The 10 items of data in this part were released by Twitter user @0x_Lucas and translated by the author of this article. Screenshot of the original tweet:

2. The hash rate hits a new high, and Ethereum miners are still "full of money"

1. The network utilization rate is full, and the "global settlement layer" goes further

The most is to rely on the east wind of DeFi-whether it is loans or transactions, whether it is Aave or Uniswap, it is inseparable from the demand for the Ethereum network. It has obviously become the largest "settlement layer" in the entire blockchain network. It is a step closer to the goal of "global settlement layer".

3. Derivatives began to prosper, and the total open interest of options reached a new high

2. The hash rate hits a new high, and Ethereum miners are still "full of money"

Of course, even under the background of the new high hash rate, the miners are still full of money: at present, the average income of each block of Ethereum is about 8 ETH, and the income of some blocks exceeds 10 ETH, of which the system block reward is 2 ETH, and the remaining 6 ETH are fee income, which means that the fee income exceeds the block reward by 3 times, all of which shows the active transactions on the Ethereum chain (miners should also be grateful for this wave of DeFi).

4. The number of DeFi users is rising steadily

3. Derivatives began to prosper, and the total open interest of options reached a new high

It is rumored that CME will launch a futures contract for ETH this year, and the total open interest of Ethereum options in the market is also gradually rising, exceeding $1.5 billion.

4. The number of DeFi users is rising steadily

5. TVL (total lock-up volume) has reached a historical high

Everyone is saying that in 2020, there will be no significant increase of new users outside the circle, but in fact, if we look at the growth curve of DeFi users, we may find that we have not even completed the "self-education within the circle".

And the current DeFi users have exceeded 1 million users, and the next goal is 10 million!

6. DEX trading volume ushered in explosive growth

5. TVL (total lock-up volume) has reached a historical high

And look at this parabolic trend, the sky is the end.

7. Ethereum speeds up the siphoning of Bitcoin

6. DEX trading volume ushered in explosive growth

DEXs such as Uniswap, Curve, and Balancer undoubtedly gave us unexpected surprises in 2020, especially under the leadership of Uniswap, they have become "phenomenal opponents" challenging CEXAccording to the data, the current market share of DEX has risen to 15% of CEX, and the monthly trading volume has soared to more than 25 billion US dollars. The future is also worth looking forward to.7. Ethereum speeds up the siphoning of Bitcoin

At present, there are more than 150,000 bitcoins on Ethereum, worth more than 4.5 billion US dollars, accounting for 0.7% of the total BTC.

As before "

Accelerating the siphoning of Bitcoin, Ethereum is becoming an "absolute black hole" for encrypted assets

If this trend continues, the transfer of 1% of BTC to ETH will happen soon, and the speed at which Ethereum can devour other encrypted assets should also accelerate.

9. Ethereum + Stablecoin, a dominant player

8. Grayscale’s ETH trust holdings hit new highs

Just as Ethereum is becoming a black hole for crypto assets like Bitcoin, Grayscale’s Ethereum Trust is becoming a black hole for ETH.

As of the beginning of 2021, Grayscale's trust products have held about 2.5% of the total BTC and 2.3% of the ETH supply (about 2.5 million ETH), which further strengthens the scarcity of Ethereum.

In the past two years, stablecoins should be one of the projects with the strongest development momentum in cryptocurrencies, and Ethereum has also become the dominant player in stablecoins:

10. ETH in the deposit contract goes up all the way

After the deposit contract was launched, $1 billion of ETH has been deposited, accounting for about 1% of all ETH, which also shows from the side that the market is optimistic about the next stage of development of Ethereum, and this is just the beginning.

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Ethereum under the "Matthew Effect", what is the next stop?

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Source: cointelegraph

On January 5, 2020, V God published the latest related article on Rollup "Rollups Incomplete Guide", clearly pointing out that "Rollups is a powerful Layer 2 expansion paradigm, and it is expected to become a key expansion solution for Ethereum in the short and medium term. The cornerstone of Ethereum scaling".

In fact, since last year, under the active publicity of V God, Rollup has basically taken on the mission of Ethereum expansion in the short to medium term. Even when Rollup is not yet popular and Ethereum is so congested, people on Ethereum On the contrary, there are more and more applications, forming a typical "Matthew effect":

The popularity of DeFi and its related ecology remains high, but those "Ethereum killers" who once advertised with differentiated competition such as low handling fees are extremely lonely.

Moreover, Uniswap and Synthetix, the current leaders in DeFi, are also about to complete their new products based on Rollup, especially Synthetix, which has recently shined in the secondary market, has completed a key step of its OP test network not long ago.