Ethereum Jumps on Defi Spike

ethereum rises nov 2020

Ethereum is nearing $450, rising from $400 yesterday on the back of a bullish bitcoin amid the election show. The deposit contract launch has given eth some boost too as now we watch how much eth is locked away into the new blockchain. Probably the minimum of 500,000 to begin with, but come next year it should get interesting as ethereans make decisions based on staking rewards, price actions, and based on their medium to long term calculations regarding their digital investments. In addition, decentralized finance (defi) is turning upwards too and somewhat bigley after being out of the picture since September: Uniswap has risen by some 50%. Still way below what we remember it, $7, but at least this thing is bouncing. As is Aave and Synthetix, both gaining close to 50%, with much of defi looking pretty green today. That should reflect on eth’s price due to pooled…

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