It's official, ETH has reached its ATH.
But why?
In the past, a decline in BTC held by exchanges in Bitcoin has led to a price explosion, provided that demand remained high.
The same phenomenon can now also be observed with Ethereum. Investors withdrew more and more ethers from exchanges in recent months. Many of these investors are long-term oriented and use ETH for staking or within DeFi protocols. Actually, I did the same.
Another reason would be the announcement by the world's largest futures exchange, the Chicago Mercantile Exchange, that it plans to introduce Ether futures by February 8th.
Simply put, the futures make Ethereum a more attractive investment for institutional investors.
Last but not least, there is the DeFi sector.
This time the price increase is not based solely on speculation and hype, as during the Initial Coin Offering (ICO) boom in 2017 and 2018.
Since you need Ether to use DeFi applications, the success of many applications from Decentralized Finance naturally also benefits Ethereum.
Many well-known projects such as UniSwap (UNI), Compound (COMP), Aave (AAVE) and SushiSwap (SUSHI) recorded price increases in the double-digit range.
All the reasons are now known, I hope.
I have had a few things translated from German if you don't mind.
And now I want to know from you what use cases does Ethereum have?