According to Coinbase's first Half Review report, ethereum's total trading volume between January and June totaled $1.4 trillion, That's up 1,461 percent from $92 billion in the first half of 2020. Trading volume in bitcoin, the largest cryptocurrency, rose 489% to $2.1 trillion over the same period.
In addition, ethereum has outperformed bitcoin, the S&P 500 and gold, rising 210% in the six months ended June 30. Bitcoin is up 20%, the S&P 500 is up 14%, and gold is down 6.7%.
The report cited the breakout of the Ethereum-based DeFi market, users' optimism about Ethereum becoming a earning asset after the conversion of the proof-of-pos mechanism, and the deflationary effect of the IP-1559 upgrade as reasons for the rise in ethereum prices. (coindesk)