Ethereum (ETH) crossed $400 today jumping more than 10% in 24 hours, briefly hitting $429. The last time Ethereum was above $400 was a week ago, on August 6, when it reached a high of $403.49.

Screen Shot 2020 08 13 at 4.17.26 PM
ETH surged Thursday

During the same 24-hour period, BTC was up 1.60% and LINK was up 7.32%.

 ETH’s trading volume increased from $12,408,772,745 on August 12, when it was at $391.02, to $17,784,047,349, when it was at $429.84 USD— a 10.43% increase in 24 hours. ETH has been on a tear in part because of the explosion in interest and use of DeFi, a mostly Ethereum-based trend. The last time ETH was above $429 was August 1, 2018.

The world has been gripped by DeFimania lately—especially today, with the surprise, possible launch of the highly anticipated governance token from Curve Finance. Late afternoon, news broke that an anonymous developer appears to have set the wheels in motion for its launch, which wasn't expected until later.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

Join 72,000+ readers

Add on Google
Add Decrypt as your preferred source to see more of our stories on Google.