ETH up 10% in 24 hours, crosses $400 yet again

ETH sees it's highest price since the end of the boom, in August, 2018. Chalk it up to DeFi Madness?

1 min read

Aug 13, 2020

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.

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.

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