Ethereum was recently in the spotlight when Binance reported that institutions are buying ETH and XRP.
Not too long ago, it’s been revealed that new numbers coming from Binance are showing a massive part of institutional players are buying ETH and XRP at an increasing pace.
Institutions are buying ETH
According to the report, back in 2019, “as BTC moved sideways, sell flows for small-cap altcoins were dominant. Large-cap altcoins like ETH and XRP, on the other hand, were in demand and saw a higher than usual amount of buy flows.”
Now, the crypto market is all red, but as Brad Garlinghouse said more than once, not only the digital assets’ prices are what matters in the crypto market.
There are more important things to look for, such as adoption, use cases, developments, and more.
More people are using apps that integrate Ethereum’s blockchain tech
It’s been revealed that the number of people who are using apps that integrate ETH’s blockchain tech is on the rise, according to the latest reports.
Last year, it’s been revealed that a total of 1.28 million new users engaged with DApps that are built on Ethereum, according to the latest data from Dapps.com, with 128,000 returning users.
More users of DeFi services built on Ethereum
This report also highlights a sharp growth in the number of people who are using decentralized financial services built on the Ethereum network.
“Nearly half of active Ethereum dapp users have used DeFi dapps in 2019. 70% of the volume generated by the native ETH token was the use of decentralized exchanges and financial services, such as lending and etc.”
it’s been revealed that gambling apps are still the most popular use for DApps, and there are more than 900 new apps built for gambling and other high-risk apps.
We recommend that you check out the complete report in order to learn more details.