The global crypto market is back in green again and Ethereum is leading the charge along with the hopes of millions of crypto investors.
Currently, the total cryptocurrency cap stands at $869.36 billion, which is nothing compared to the all-time high crypto cap of nearly 3 trillion. Bitcoin price rose by 0.86% in the last 24 hours, however, it paled in comparison to Ethereum.
Ethereum price showed the maximum gains. ETH appreciated by 2.45% with in the past 24 hours. In the crypto space, the DeFi space is presently worth $4.19 billion. The 24-hour volume of DeFi makes up for 10.34% of total crypto volume.
Ethereum is on the cusp of getting its famed Version 2 upgrade. And, this is the reason why it has become an intriguing proposition for investors. Currently, the Ethereum blockchain is home to some of the prized NFTs and DeFi contracts. However, the performance of ETH is bottlenecked by its slow transaction speed.
At present, Ethereum transactions per second is just 12 to 15 TPS. But with version to update, the transaction rate will rise to 100,000 TPS. Despite the current crypto winter, investors can expect to make huge gains if the move to version 2 goes as intended.