As the market appears to be moving out of its bear phase — Bitcoin is finally holding above the $4,000 mark — the push for a permanent increase of the price floor depends on the usability and fundamentals. For Ethereum, that means a strong network of dapps and Ethereum-utilizing platforms. Crypto investors can take heart, as it appears that the demand for Ethereum and other digital assets is steadily growing on some platforms.
Head of Digital Currency Research at TradeBlock, John Todaro, posted a tweet showcasing the demand for Ether on platforms such as Compound Finance, and pointed towards this demand rise of Ethereum on such platforms plus a potential drop in natural supply as instigators for a price rise. TradeBlock provides institutional trading tools for cryptocurrency.
The accompanying graph shows an increase in the amount of locked Ether since November.