As of late, the Ethereum price has been steadily climbing past $1,400 and its 24-hour trading volume has surged to an all-time high of $24 billion. This bullish trend in Ethereum has been fueled by its increasing popularity amongst institutions as well as investors, who are trading Ethereum to gain exposure to DeFi and take advantage of high DeFi yield farming rewards. In addition, many consider Ethereum to be the cryptocurrency that will benefit the most when mainstream adoption happens.
Looking forward, I think it is fair to expect Ethereum’s price to continue its upward trajectory as the DeFi boom continues and Ethereum is adopted by more institutional investors. That being said, Ethereum is still considered a volatile asset and it could suffer corrective dips due to profit-taking. These dips could be a great opportunity for short-term traders and long-term hodlers alike to accumulate more ETH at discounted prices. In sum, the Ethereum price is trending upwards and its 24-hour trading volume has skyrocketed. Therefore, I think it is a great time to buy the ETH dip.
