13/08/2021 Coinbase says Ethereum volume tops Bitcoin as DeFi, NFTs gain popularity

Ethereum accounted for 26% of Coinbase volume in second quarter

Ethereum was the most traded cryptocurrency on the Coinbase exchange during the three months through June, as investors explored the world of decentralized finance.

Ticker Security Last Change Change %
COIN COINBASE GLOBAL, INC. 256.50 -21.90 -7.87%
 

Ethereum, the second-largest cryptocurrency by market capitalization, was responsible for 26% of the trading volume on Coinbase, compared to 24% for Bitcoin. A year ago, Bitcoin commanded 57% of total volume on the platform versus 15% for Ethereum. 

Total trading volume during the second quarter was $462 billion, up 1,550% from $28 billion a year ago. 

"Bitcoin may be a great store of wealth but most of the innovation that's happening in the crypto space right now is happening on the Ethereum blockchain," said Mati Greenspan, CEO of Quantum Economics, a Tel Aviv-based project aimed at helping people understand financial markets.

The Ethereum blockchain is used for both decentralized finance and non-fungible tokens, two applications that have recently taken the crypto world by storm.

Decentralized finance, or DeFi, does not rely on banks or other financial intermediaries to offer financial instruments, and instead uses the blockchain, most commonly Ethereum. 

A non-fungible token, or NFT, is a unit of data stored on the blockchain that says a digital asset is unique and cannot be replicated. This includes art, music and other types of digital files.

The interest in DeFi and NFTs has helped boost Ethereum’s price by 344% this year to $3,240 a token, giving the cryptocurrency a market capitalization of $380 billion, according to CoinMarketCap.com.

Bitcoin’s price, meanwhile, has climbed 58% this year to $46,490 a coin. Its market cap was more than $871 billion. 

Arts

https://www.foxbusiness.com/markets/coinbase-ethereum-volume-bitcoin-defi-nft-popularity

Interesting NFTs
CryptoPunk 5577
By C352B5
The Switch
The Switch is a unique, ā€œone of oneā€ NFT that demonstrates the evolution of artwork in the digital realm. The Switch is developed to change form at a specific point of time in the future, known by Pak. The evolution is determined and rendered immutable by smart contracts, or self-executing code on the Ethereum blockchain.
#51552
By OthersideDeployer
The Scion
A young figure caught in a moment of distraction, aware only ephemerally of his unconscious being, as it engages in psychological and psychedelic layer spaces. His right arm casually cradles a moray eel; the figure is comfortable but not truly aware of the potentials for danger in such negligence. His shirt reads ā€œBelloā€ in Pokemon style font, harkening back to a childhood straddling the millennial threshold. To his right side, out of the unconscious deep, shrouded alien heads propagate as a fractal totem, each new iteration a more sophisticated rendering of emotional masking over the cold mystery of the greys. As the scion of the Budgie-Sattva, the young man, in his distraction, is also simultaneously aware of higher levels of self discovery. To his left a psychological topology sets beneath the oracle side of an 8 ball ,hovering; its message a purest concept of acceptance. The ā€œScionā€ lettering is in 80ā€™s HeMan style bold declaration. The lower right side of the painting is like a hybrid of melon, feathers, and seeds. The crystals in the background bring light; conducted, refracted, reflected, and dispersed, to balance the dark shadow of the figureā€™s physical body. The aura of the scion succeeds in layers to point, with a finger, and the crown chakra, toward a center of a mandala existing as nigh pure application of strokes, in essence painterly abstraction, but also revealing hints of the Aura of migraine, and the bi-hemispherical nature of the brainā€“noting concerns of the possibility of inherited mental disease. Yet the flourish of chakra as it sets against that center is robust, active, coherent, and reveling against all fear. Fundamentally, the piece speaks to the activation of oneā€™s potential to begin to ā€œKnow Thyselfā€, and find greater awareness out of the enigmas of the mindā€“as an inculcated seed given to the rich soil of oneā€™s own birthright.
#90008
By OthersideDeployer